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☆ Richard Branson shares the simple mindset that's key to his success: 'I don't ever think of myself as a businessperson'
▼ + stars: | 2024-05-03 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

Richard Branson doesn't think of himself as a businessman — and he believes that helped him build Virgin Group into what it is today. "I don't ever think of myself as a businessperson, or even really an entrepreneur," Branson tells CNBC Make It. "I just see myself as somebody that loves to create things that I can be proud of." "There's many things that we've done that we wouldn't have done if we'd listened to accountants," says Branson. Perhaps ironically, the strategy has proved lucrative for Branson, whose current net worth is estimated at $2.5 billion, according to Forbes.

Persons: Richard Branson doesn't, —, Branson, we'd Organizations: Virgin Group, CNBC, Virgin Atlantic, Virgin Galactic, Branson, Forbes Locations: Branson

☆ Richard Branson says money isn't a good way to measure success: Focus on this 1 word instead, it's 'all that really matters'
▼ + stars: | 2024-05-01 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Richard Branson doesn't want to be defined by his money. Specifically, he finds it "quite insulting" when he is introduced as "the billionaire Richard Branson," rather than as the co-founder of Virgin Group, he tells CNBC Make It. "Maybe in America, 'billionaire' is a sign of success, but that rankles me," says Branson. "Your reputation is [whether] your team of people who work with you are proud of what they've created," Branson says. Financial success has often followed, but Branson is adamant that money has never been his chief motivating force.

Persons: Richard Branson doesn't, Richard Branson, Forbes —, they've, Branson, — Organizations: Virgin Group, CNBC, Branson, Virgin Atlantic, Virgin Mobile Locations: America, Branson, Vietnam

☆ Richard Branson says this decision helped build his $2.5B net worth: 'I don't think I would have gone to space' otherwise
▼ + stars: | 2024-04-29 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

He's referring to selling record label Virgin Records to Thorn EMI for nearly $1 billion in 1992. Branson needed the money to focus on a newer venture, Virgin Atlantic. CNBC Make It: How did you make the decision to sell Virgin Records? What I decided was: If I sold Virgin Records, all the people's jobs would be secure. I could then use that money to build and protect Virgin Atlantic.

Persons: Richard Branson, He's, —, Branson, Richard, Virgin, We'd, Janet Jackson Organizations: CNBC, Virgin Records, Thorn EMI, Virgin Atlantic, British Airways, Virgin Group, Forbes, Virgin Locations: London, Branson

☆ Richard Branson and Oppenheimer's grandson urge action to stop AI and climate 'catastrophe'
▼ + stars: | 2024-02-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Richard Branson believes the environmental costs of space travel will "come down even further." Dozens of high-profile figures in business and politics are calling on world leaders to address the existential risks of artificial intelligence and the climate crisis. Virgin Group founder Richard Branson, along with former United Nations General Secretary Ban Ki-moon, and Charles Oppenheimer — the grandson of American physicist J. Robert Oppenheimer — signed an open letter urging action against the escalating dangers of the climate crisis, pandemics, nuclear weapons, and ungoverned AI. Signatories called for urgent multilateral action, including through financing the transition away from fossil fuels, signing an equitable pandemic treaty, restarting nuclear arms talks, and building global governance needed to make AI a force for good. The letter was released on Thursday by The Elders, a nongovernmental organization that was launched by former South African President Nelson Mandela and Branson to address global human rights issues and advocate for world peace.

Persons: Richard Branson, Ban, Charles Oppenheimer —, J, Robert Oppenheimer —, Nelson Mandela, Branson, MIT cosmologist Max Tegmark, Jaan Tallinn Organizations: Virgin Group, United Nations, Elders, South, Life Institute, MIT, Skype

☆ Bill Gates and Jeff Bezos-backed startup discovers large-scale copper deposit in Zambia
▼ + stars: | 2024-02-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

KoBold Metals, a California-based metals exploration company backed by billionaires including Bill Gates and Jeff Bezos, said that it has discovered a vast copper deposit in Zambia. A spokesperson for KoBold Metals told CNBC on Monday that the company believes its Mingomba copper project in Zambia "will be one of the world's biggest high-grade large copper mines." "It is Kakula-scale in size and grade," KoBold Metals President Josh Goldman said in a statement shared on the firm's social media site X. Ivanhoe Mines, a Canadian mining company founded by billionaire magnate Robert Friedland, owns nearly 40% of the Kamoa-Kakula copper mine. KoBold Metals says it uses artificial intelligence to create a "Google Maps" of the Earth's crust to help find new deposits of copper, lithium, cobalt and nickel.

Persons: Bill Gates, Jeff Bezos, Josh Goldman, Robert Friedland, Andreessen Horowitz, Ray Dalio, Virgin Group's Richard Branson, Alibaba's Jack Ma Organizations: KoBold Metals, CNBC, Democratic, Ivanhoe Mines, KoBold, BHP, Breakthrough Energy, Bridgewater Associates Locations: Victoria, Zambia, Zimbabwe, Livingstone, California, Democratic Republic of the Congo, Canadian, Norwegian

☆ Virgin Galactic: Richard Branson won’t invest more money in the space tourism company he founded
▼ + stars: | 2023-12-04 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

CNN —Shares of Virgin Galactic, the space tourism venture founded by Richard Branson, are plunging after the British billionaire said he has no plans to invest more money in the company as he says it has “sufficient funds” already. ET market open on Monday, Virgin Galactic stock was down 16%, trading at less than $2 per share. Virgin Galactic has had a landmark year, flying its first customers to the edge of space after years of waiting. Branson had previously sold off a large chunk of his personal investment in Virgin Galactic, ditching about $1 billion worth of stock between 2020 and 2021. Branson added in his comments to the Financial Times that he remains excited about Virgin Galactic and noted the company has “really proved itself and the technology.”

Persons: Richard Branson, Branson, hasn’t, ”, Virgin Galactic’s, Michael Colglazier’s Organizations: CNN —, Virgin Galactic, Financial Times, — Virgin, Galactic, Times, Virgin, Virgin Group, Virgin Galactic’s, VSS Unity, VSS Locations: Virgin

☆ Tony Fernandes: AirAsia CEO criticized after posting shirtless massage photo on LinkedIn
▼ + stars: | 2023-10-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —AirAsia boss Tony Fernandes has created a firestorm on social media after sharing a photo of himself receiving a massage topless during a management meeting. In his post, the business mogul said he’d had “a stressful week,” so a colleague suggested he get a massage. “Got to love Indonesia and AirAsia culture that I can have a massage and do a management meeting,” Fernandes wrote. The post was deleted days later after a wave of criticism, with many LinkedIn users saying his behavior was unprofessional. AirAsia Group rebranded to Capital A last year, in efforts to show how AirAsia was becoming “more than just an airline,” according to a company statement at the time.

Persons: Tony Fernandes, he’d, “, ” Fernandes, Fernandes, ”, Richard Branson of Organizations: Hong Kong CNN — AirAsia, Malaysian, LinkedIn, AirAsia, CNN, Bloomberg, relaunching AirAsia, Capital, ”, Virgin Group, Warner Music, AirAsia Group Locations: Hong Kong, Indonesia, Richard Branson of Asia, United Kingdom, Asia, Malaysian, Malaysia

The only other U.S. high-speed line is Amtrak's Acela service between Boston and Washington, D.C., which began in 2000. Brightline began planning in 2012. A 2018 partnership with Richard Branson's Virgin Group to rebrand Brightline as Virgin Trains USA quickly soured. According to the lawsuit, Brightline says Virgin “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic." He said Brightline’s accommodations “compare really well to some of the best trains” he’s taken in Europe, where high-speed rail between cities is common.

Persons: Florida's Brightline, It's, Mike Reininger, John Renne, Brightline, ” Renne, Richard Branson's, Virgin “, hasn’t, Eric Flowers, ”, ” Brightline, Reininger, ” Reininger, Robert Barr, You’ve, Barr Organizations: MIAMI, Fortress Investment, West Palm Beach, D.C, Amtrak, Florida Atlantic University's Center for Urban, Environmental Solutions, Miami -, Richard Branson's Virgin Group, Virgin Trains USA, Virgin, Orlando Locations: United States, Miami, Orlando, West Palm, Southern California, Las Vegas, Boston, Washington, Florida, Tampa, Jacksonville, Miami - Orlando, London, U.S, West, County, We’re, Vero, Brightline’s Miami, South, Florida’s, Europe

☆ Virgin Voyages raises $550 mln in Ares Management-led fundraise
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

The Virgin Voyages Scarlet Lady cruise liner sits docked at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson Acquire Licensing RightsSept 8 (Reuters) - Virgin Voyages, the cruise brand from Richard Branson's Virgin Group, said on Friday it has raised $550 million in fresh capital to expand into new international markets. The funding was led by Ares Management (ARES.N) with participation from existing investors, including British conglomerate Virgin Group and venture capital firm Bain Capital. Launched at the end of 2021, Virgin Voyages operates three ships servicing the Caribbean and the Mediterranean. It plans to operate in Australia and New Zealand by the end of the year.

Persons: Simon Dawson, Richard Branson's, Tom McAlpin, Nirmal Saverimuttu, Manya Saini, Arun Koyyur Organizations: REUTERS, Richard Branson's Virgin Group, Ares Management, Virgin Group, Bain Capital, Virgin Voyages, Caribbean, Thomson Locations: Dover Port, Dover, Britain, British, Australia, New Zealand, Bengaluru

☆ A Russian oligarch who slammed Putin's invasion of Ukraine got taken off UK's sanctions list after he got Richard Branson to back him
▼ + stars: | 2023-07-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The UK on Wednesday lifted sanctions against Russian oligarch Oleg Tinkov. Virgin Group founder Richard Branson endorsed Tinkov's appeal against the sanctions. The UK on Wednesday lifted sanctions against Russian oligarch Oleg Tinkov, the British foreign office announced Thursday. The Russian businessman has been an outspoken critic of Russian President Vladimir Putin's war in Ukraine. Tinkov's appeal against the UK's sanctions was endorsed by Richard Branson, the founder of the Virgin Group empire, The Times media outlet reported on Monday.

Persons: Oleg Tinkov, Tinkov, Richard Branson, Vladimir Putin's, Branson, Tinkov hasn't, Corker Binning, David Corker Organizations: Virgin Group, Service, Bank, New York Times, Times, US, EU, Forbes, Tinkoff Bank Locations: Ukraine, Wall, Silicon, Russia, British, Russian, Cyprus, Tinkov

☆ Branson, Virgin Group reputations at centre of $250 mln London court clash
▼ + stars: | 2023-07-03 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, July 3 (Reuters) - British billionaire Richard Branson severely damaged Virgin Group's reputation by residing in a tax haven while UK-based airline Virgin Atlantic sought a government bailout during the pandemic, according to internal Virgin emails cited in a $250 million London lawsuit on Monday. The emails were cited by lawyers for U.S. train operator Brightline, which is being sued by the Virgin Group after cancelling a deal to use the Virgin brand in 2020, just over 18 months after it was signed. Under the deal Brightline operated a rail line in Florida using the name Virgin Trains USA. Brightline's lawyers cited internal Virgin Group emails describing group founder Branson being based in the British Virgin Islands for tax purposes as "a reputation killer", while one email from an external public relations adviser said: "Richard needs to show he's not a ruthless, tax-evading billionaire." In an April 2020 email, Virgin Group CEO Josh Bayliss referred to Branson's tax residency in relation to the request for a bailout, saying: "Richard cannot escape the criticism.

Persons: Richard Branson, Brightline, Branson, Richard, Josh Bayliss, Daniel Toledano, Virgin Atlantic's, Brightline's, Nigel Tozzi, Sam Tobin, Susan Fenton Organizations: Virgin Atlantic, U.S, Virgin Group, Virgin, Virgin Trains, British Virgin Islands, Real Madrid, Thomson Locations: Florida, British Virgin, Britain, United States, Barcelona, Bay

Some billionaires rocketed into space as Branson and Amazon founder Jeff Bezos have. Other rich travelers journeyed on a submersible to explore the wreckage of the ocean liner Titanic. For $250,000 to $300,000 a trip, Kent sometimes fields unusual requests including helping a Saudi prince fulfill his dream of flying a plane onto and off of an aircraft carrier. The experience was so demanding that Ackman's father expressed concern about the intended trip, not for his son but for another fund manager who had signed up to go. One person familiar with that excursion said it probably wouldn't happen again, in part because it was such a potentially risky undertaking.

Persons: Eric Gaillard, Richard Branson, Branson, Jeff Bezos, ”, Alexandre Cymbalista, Geoffrey Kent, Kent, Goldman Sachs, Monica Heslington, Goldman, Melissa Biggs Bradley, Massimo Bottura, Bill Ackman, Whitney Tilson, Tilson, Ackman, Svea Herbst, Bayliss, Tatiana Bautzer, Julia Harte, Nupur Anand, Paritosh Bansal, Anna Driver Organizations: REUTERS, Twitter, Virgin Galactic, Virgin Group, Amazon, Wall Street, Abercrombie, Kent, Credit Suisse, SPECIAL, Goldman, Art Basel, Rubell Museum, Bank of America, Indagare, Ferrari, Navy, Svea, Thomson Locations: Nice, France, New York City, Branson, safaris, Botswana, Kent, Saudi, Africa, Miami, Art Basel, Modena, Italian, Mongolia, California

☆ Mothers may know best when it comes to money
▼ + stars: | 2023-05-10 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

For Mother's Day, we asked a few business leaders about the best money advice they ever got from their moms. Founder & chief investment officer, Ariel Investments"My mom was Deputy Solicitor General, and was a pioneer in serving on corporate boards. "When I started Ariel in 1983, when I was 24, my mom gave me whatever liquid cash she had. We can't always control how much money we make, but we can control maximizing the value of the things we already have." "The best financial advice my mom gave me was to be financially minded at a young age.

A Virgin Australia spokesperson confirmed the contents of the internal email. A Bain Capital spokesperson declined to comment. "I can also confirm the IPO planning is well advanced," Cotton said in the email to staff seen by Reuters. Virgin Australia Chief Executive Jayne Hrdlicka said on Monday that she would take several weeks of leave to spend time with family after the death of her husband from cancer. Bain Capital bought Virgin Australia in 2020 after it was placed in voluntary administration, the closest Australian equivalent to Chapter 11 bankruptcy.

☆ Billionaire Richard Branson defends space travel, argues it can benefit planet
▼ + stars: | 2023-05-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

Richard Branson on board Virgin Galactic's VSS Unity in July 2021. The billionaire believes the environmental costs of space travel are set to "come down even further." British billionaire Richard Branson believes space travel can be beneficial for the planet, arguing that trips like the one he undertook in 2021 open doors and cut red tape. During his interview with the BBC, Branson described space travel as being "incredibly important" for the Earth and made the case for it to continue. "Communication between people is being transformed because of space travel and satellites up there," he said.

☆ Russia’s war on Ukraine redrew the map of the sky – but not for Chinese airlines
▼ + stars: | 2023-04-25 | by ( Xiaofei Xu | ) edition.cnn.com time to read: +7 min

He told the newspaper that airlines flying over Russia were indirectly helping the Kremlin’s war effort. Safety implicationsVirgin's Richard Branson has called for a ban on Chinese airlines flying to Europe via Russian airspace. CNN has reached out to the three main state-owned Chinese airlines – Air China, China Eastern and China Southern – for comments. For now, Chinese airlines have yet to return to full pre-pandemic capacities. But as Chinese airlines gradually return to normal and the war in Ukraine continues to rage on, European airlines could potentially face more fierce challenges on routes between Europe and East or Southeast Asia, creating some interesting choices for passengers.

☆ Branson's Virgin Orbit files Chapter 11 bankruptcy plan
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Richard Branson, founder of Virgin Group, poses for a photograph on board of his new cruise liner, the Scarlet Lady at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon DawsonApril 19 (Reuters) - Richard Branson's Virgin Orbit Holdings Inc and its subsidiaries in the United States filed a Chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday. Earlier this month, Virgin Orbit filed for Chapter 11 bankruptcy protection after the satellite launch company struggled to secure long-term funding following a failed launch in January. "We expect the filing of the plan and disclosure statement will help us to efficiently conclude the Chapter 11 process once we have completed the sale of the company," Dan Hart, chief executive of Virgin Orbit said in the statement. The company is seeking the sale of its assets, after laying off roughly 85% of its 750 employees.

REUTERS/Henry NichollsApril 8 (Reuters) - As the fortunes of Richard Branson's Virgin Orbit were crashing to Earth last month, a little-known investor called Matthew Brown appeared offering a $200 million rescue. Virgin Group, which owns 75% of Virgin Orbit, also declined to comment for this article. The group is providing financing to Virgin Orbit as the satellite launch company seeks a buyer in bankruptcy. Asked about this, Brown told Reuters he structured deals to protect investor confidentiality with a preference for "laying low below the radar." Virgin Orbit filed for bankruptcy on Tuesday.

☆ Richard Branson's Virgin Orbit rocket firm files for bankruptcy
▼ + stars: | 2023-04-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Richard Branson's Virgin Orbit rocket firm has filed for Chapter 11 bankruptcy. Virgin Investments, another of Branson's firms, provided $31.6 million in fresh funds to Virgin Orbit while it seeks a new buyer, according to the company statement. Branson and the Virgin Group have supported Virgin Orbit over the long term, investing more than $1 billion in the Company — including $60 million since November 2022, according to a company spokesperson. "However, this significant funding was not enough to counter the strong headwinds and liquidity challenges Virgin Orbit continues to face," the spokesperson added. Founded by Branson in 2017, Virgin Orbit went public in a SPAC merger in 2021.

☆ Branson's Virgin Orbit files for bankruptcy, to seek buyer
▼ + stars: | 2023-04-04 | by ( Joey Roulette | ) www.reuters.com time to read: +4 min

Virgin Orbit went public in 2021 through a blank-check deal, raising $255 million less than expected. Spun off from Branson's space tourism firm Virgin Galactic in 2017, Virgin Orbit air-launches rockets from beneath a modified Boeing (BA.N) 747 plane to send satellites into orbit. Virgin Orbit's strategy has been that launching small rockets from a 747 in flight would allow for short-notice launches from anywhere. Virgin Investments, a unit of Virgin Group, will provide $31.6 million in new money to Virgin Orbit through debtor-in-possession financing to fund operations while it looks for a buyer in bankruptcy, the companies said. Virgin Orbit's bankruptcy filing showed its largest creditor as London-based Arqit Ltd, which was owed almost $10 million for services and as a customer deposit.

☆ What went wrong at Virgin Orbit? 4 red flags signaled trouble for Richard Branson's satellite launch firm.
▼ + stars: | 2023-04-04 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

Richard Branson's Virgin Orbit struggled to make a comeback after a failed launch in January. Unlike SpaceX, Virgin Orbit blasts its LauncherOne rocket into space with the help of a modified Virgin Atlantic Boeing 747 called Cosmic Girl. This funding "was not enough to counter the strong headwinds and liquidity challenges Virgin Orbit continues to face," the spokesperson added. Ultimately, Virgin Orbit has been unable to reach the rate of launches needed to meet the required revenue, per CNBC. Funding issuesSince the failed UK launch, Virgin Orbit has attempted to rake in funding from investors, per reports.

☆ Bill Gates took a 'test ride' in an autonomous vehicle, and says they'll save you money—take a look
▼ + stars: | 2023-03-31 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Bill Gates says totally driverless cars, without need for even a steering wheel, are "coming sooner rather than later." He also posted a video of his experience:The car's technology was built by British startup Wayve, which partners with Microsoft on its artificial intelligence-based autonomous driving software. Wayve sits among a bevy of tech and auto industry competitors: The likes of Ford, GM, Tesla, Alphabet and China's Baidu have invested billions of dollars toward developing their own driverless vehicle technology. U.S. consumers will likely only gain access to fully self-driving vehicles following a complete overhaul of the nation's driving infrastructure and laws, he added. Last year, U.S. regulators cleared the way for autonomous cars built without steering wheels or even pedals — a first step.

☆ Virgin Orbit to lay off about 85% of staff
▼ + stars: | 2023-03-30 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

March 30 (Reuters) - Rocket maker Virgin Orbit Holdings(VORB.O) on Thursday said it was laying off about 85% of staff because it had not been able to raise new investment. Shares of the company, which is controlled by Richard Branson's Virgin Group, fell 38% in after hours trade. About 675 employees will lose their jobs, and the company expects to take related charges of about $15 million, Virgin Orbit said in a regulatory filing. Virgin Orbit went public in 2021 through a blank-check deal, where it raised $255 million less than expected. A small group of employees returned to work on March 23 to focus on rocket engine work, an email to staff said at the time.

☆ Virgin Orbit, Richard Branson's rocket company, to lay off 85% of staff
▼ + stars: | 2023-03-30 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

CNN —Virgin Orbit — the rocket company founded by British billionaire Richard Branson — is laying off the vast majority of its workforce as company leadership struggles to secure additional funding. Virgin Orbit spokespeople declined to comment beyond the filing. Virgin Orbit was founded in 2017 after spinning off from its sister company, Virgin Galactic, which is focused on using supersonic planes to vault high-paying tourists on joy rides to the edge of space. Virgin Orbit, on the other hand, has been developing an air-launched rocket, dubbed LauncherOne, for hauling small satellites to orbit. Virgin Orbit announced it was going public — via a reverse merger agreement called a SPAC — in the fall of 2021.

☆ Virgin Orbit extends unpaid pause as Brown deal collapses, 'dynamic' talks continue
▼ + stars: | 2023-03-27 | by ( Michael Sheetz | ) www.cnbc.com time to read: +4 min

Virgin Orbit launches its LauncherOne rocket from the spaceport in Cornwall, marking the first ever orbital launch from the UK. (Photo by Matthew Horwood/Getty Images)Virgin Orbit is again extending its unpaid pause in operations to continue pursuing a lifeline investment, CEO Dan Hart told employees in a company-wide email. But discussions between Virgin Orbit and the Texas-based investor stalled and broke down late last week, a person familiar told CNBC. Virgin Orbit was spun out of Branson's Virgin Galactic in 2017 and counts the billionaire as its largest stakeholder, with 75% ownership. Mubadala, the Emirati sovereign wealth fund, holds the second-largest stake in Virgin Orbit, at 18%.

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