Richard Branson Net Worth

Richard Branson is a renowned entrepreneur behind the “Virgin” brand name. Virgin Group Ltd owns Virgin Atlantic and Virgin Galactic, among other companies. 

Richard Branson was born in Shamley Green, Surrey, England, on July 18, 1950. His interest in business ventures began at 16 with a magazine called Student. Then, in the late 1960s, the magazine started to fail. So Branson, with a team of 20 employees, launched the Virgin brand.

In the 1970s, Virgin Records was established as a mail-order record business and opened multiple record stores. The Virgin brand kept growing over the years, and by 1980 Branson started Virgin Atlantic airline. The airline began with a single aircraft, but with time he raised enough money from selling records at Virgin Records to fund the airline. 

The British billionaire earned his first million dollars at Virgin Records by signing Mike Oldfield, whose album “Tubular Bells” sold over 5 million copies. The record label signed other artists like Ozzy Osbourne and The Rolling Stone. Virgin Music had branches in Japan, Germany, and France.

From the 1990s, Virgin Group Ltd diversified into space tourism with Virgin Galactic, wireless phones with Virgin Mobile, rail travel with Virgin Rail Group, Virgin Comics, and Virgin Animation Private Limited.

The Prince Of Whales knighted Richard Branson in March 2000 for his services to entrepreneurship. The appreciation was for his works with music, retail, sea, space, and travel, in addition to his humanitarian work. 

What Is Richard Branson Net Worth?

In 2022, Richard Branson’s net Worth is $4 billion, while Bloomberg estimates it at $5.65 billion. 

Most of his wealth has ties to the Virgin Group Ltd, a franchise with over 40 businesses, earning him $211.5 million annually. 

Richard Branson’s Career

Here is a breakdown of Richard Branson’s entrepreneurial career:

• The 1980s – In the 1980s, Branson launched Virgin Records, and he leased the studio to artists. He signed contracts with UB40, Paula Abdul, the Rolling Stones, XTC, and Japan. Virgin Records contributed to Richard Branson’s net worth, and he invested the money in other companies. Virgin Atlantic, Virgin Cargo, and Virgin Holidays were born.  
• The 1990s – In the 1990s, Branson ventured into telecommunication and railways and launched the Virgin Blue airline in Australia. The Virgin Rail Group was one of the private British railers. In the years, there was tension between British Airways and Virgin Atlantic. The British airline gave Branson £500,000 and another £110,000 to his airline. In addition, they paid a legal fee of up to £3 million. 
• The 2000s – In 2004, Branson joined forces with Burt Rutan and launched Virgin Galactic, a licensed tourist spacecraft. He also started Virgin Comics and Virgin animation. In 2007, Branson began the Virgin Health Bank, offering parents a bank to store their baby’s umbilical cord blood stem cells. The same year, he opened Virgin Earth Challenge, which awarded groups or individuals vocal in matters concerning Earth’s climate.

Other Ventures 

Richard Branson had other ventures like Virgin Unite to combat HIV/AIDS. Branson also showed interest in Formula One and hotels with Virgin Hotels.

The entrepreneur has also tried 3D robotics and opened clinics under Virgin Healthcare, offering medical services. Also, Branson launched “Foodpreneur,” a food and drink startup.  

Property 

Branson purchased Necker Island, a 74-acre private island in the British Virgin Islands, for $180,000 in 1978. The island is now a luxurious resort with a helipad and a luxury yacht. In addition, he also owns a chain of hotels, like Moskito Island, The Lodge, Ulusaba, Son Bunyola, Mont Rochelle, and Mahali Mzuri.

He has a collection of antique and unique cars comprising Humber Super Snipe, Aquada, Fisker Karma, and Range Rover Astronaut Edition. In addition to his car collection, Branson also owns jets and yachts. 

Philanthropy 

Branson has launched numerous charitable and humanitarian initiatives. For instance, in 1999, he formed the International Centre for Missing and Exploited Children (ICMEC) to help find missing children. In addition, in 2006, he made a $3 billion pledge to eco-friendly fuel research. 

In 2013, Branson founded Virgin Startup, a startup loans organization providing loans to entrepreneurs aged 18-30 in the UK. In partnership with Taddy Blecher, they founded the CIDA City Campus in Johannesburg, South Africa. Also, Branson joined efforts with the African Wildlife Foundation to fight wildlife poaching and trafficking.    

Richard Branson Life Facts

• Branson got an honorary degree of Doctor of Technology at Loughborough University in 1993.
• Branson has made record-breaking attempts on the Virgin Atlantic Challenger for the fastest Atlantic Ocean crossing by ship. The shot failed; the boat capsized and had to be rescued by an RAF helicopter. 
• In 2016, Alaska Air acquired his company, Virgin America Airlines, through a vote that he lost. 
• He crossed the Pacific from Japan to Arctic Canada in a hot air balloon. 
• On July 11, 2021, Branson took part in a flight test drive for Virgin Galactic.
• He has appeared in some movies and TV series, like Casino Royale, The Rebel Billionaire, and Around the World in 80 Days. 
• Branson received a Citizen of the Year Award from the United Nations Correspondents Association (UNCA).
• Branson has published several autobiographies, like Losing My Virginity, Had Fun, How I’ve Survived and Made a Fortune Doing Business My Way, and Everything I Know About Leadership. 

What’s Next for Richard Branson?

Virgin Galactic achieved commercial space tourism by sending a whole crew, including Richard Branson. The company aims to  “welcome the dawn of a new space age” by building spaceports worldwide and giving tourists rides to space. Richard is, however, not in charge as he took a step back to focus on his charitable foundations. 

Richard Branson FAQs