
Richard Branson’s Virgin Orbit Staring at Bankruptcy This Week in Absence of Deal
Sources familiar with the matter said that if Virgin Orbit fails to strike a deal this week, it’s preparing for restructuring in the case of insolvency.
British business magnate, investor, author and philanthropist.
Sir Richard Charles Nicholas Branson is a British business magnate, investor, author and philanthropist. He founded the Virgin Group in the 1970s, which controls more than 400 companies in various fields.
Branson expressed his desire to become an entrepreneur at a young age. His first business venture, at the age of 16, was a magazine called Student. In 1970, he set up a mail-order record business. He opened a chain of record stores, Virgin Records – later known as Virgin Megastores – in 1972. Branson’s Virgin brand grew rapidly during the 1980s, as he started Virgin Atlantic airline and expanded the Virgin Records music label. In 2004, he founded spaceflight corporation Virgin Galactic, based at Mojave Air and Space Port, noted for the SpaceShipTwo suborbital spaceplane designed for space tourism.
In March 2000, Branson was knighted at Buckingham Palace for “services to entrepreneurship”. For his work in retail, music and transport (with interests in land, air, sea and space travel), his taste for adventure, and for his humanitarian work, he has become a prominent global figure. In 2007, he was placed in the Time 100 Most Influential People in The World list.
In April 2020, Forbes listed Branson’s estimated net worth at US$4.4 billion.
Virgin Group Ltd.
Jul 18th, 1950
British
Stowe School
Scaitcliffe School
978
$3.0 B
Virgin Group Ltd. - Founder
Sources familiar with the matter said that if Virgin Orbit fails to strike a deal this week, it’s preparing for restructuring in the case of insolvency.
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As per the permission granted by the UK Civil Aviation Authority, Virgin Orbit can operate its flight from the Spaceport Cornwall in southwest England.
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