Editor’s note: This article was first published in June 2014. Figures such as Richard Branson’s number of companies, his net worth, his age and the value of Necker Island are from that year, and the Bournemouth sea monster was then his latest stunt.
For some strange and curious reason, Richard Branson does not attract as much interest as other businesspeople who appear in the financial media and who, frankly, cannot hold a candle to this entrepreneur, who lives up to the expression “self-made man”.
Since founding his first company, in the record business, in 1970, Richard Branson has created more than 400 companies, exploring practically every industry we can imagine: airlines, mobile phone companies, hotels, banks, gyms and even space tourism. Along the way he has built a net worth of roughly 5 billion dollars, which puts him on the Forbes list as one of the 400 richest men in the world.
It must be fun to be Richard Branson, says Business Insider writer Madeline Stone. Branson is one of those entrepreneurs who constantly strives to outdo himself, not only in business but in his personal life, which is full of exciting challenges. In fact, Richard Branson’s advice includes constantly setting yourself challenges and enjoying life to the full.
Where does Richard Branson come from?
Branson was born on 18 July 1950 in London. Although his father was a lawyer, he says his family was modest and struggled to make ends meet. He is one of the millionaires who were born with dyslexia, a condition that was hard to detect back then, so he was not a good student. His headmaster said Branson was the kind of person who would end up either in prison or a millionaire.
Richard Branson’s first business
His first business was a magazine called Student, in 1968, when Branson was still a teenager. Although the magazine did not make him much money, the reason he created it would later drive his success. Branson stands out for creating businesses where he has spotted a need, or where the industry serving that need falls short and he believes he can offer a better service than what exists, and make it profitable as an entrepreneur.
From that magazine onwards, this premise would drive the creation of his more than 400 companies.
His first idea to become a profitable business was selling records by mail order in 1970. That company would later become Virgin Records, Branson’s first big success, signing musicians of the stature of the Rolling Stones and the Sex Pistols. It made Branson a millionaire at the age of 23.
Make your presence felt
This may be Richard Branson’s second premise: discretion is not his strong point. You can spot Branson’s presence a mile off, especially when he is promoting a new company or product.
In 1989 he got married on his private island and, according to reports, made a grand entrance by jumping out of a helicopter.
In 2000 the Prince of Wales knighted him for his services to entrepreneurship. That is why he is now Sir Richard Branson.
Branson is known for the crazy stunts he pulls when launching a company. In 2007 he jumped off a Las Vegas casino to launch Virgin America, he has danced with hippies and he has even dressed up as a flight attendant. In the case of the flight attendant outfit, he says it was because he lost a bet with the CEO of AirAsia Group. And we have to admit Branson made a very fetching stewardess 🙂
Where does Richard Branson run his companies from?
Branson’s philosophy is to hire the best people so that the business is in good hands. So he runs his companies either from his private boat or from Necker Island, an island in the British Virgin Islands that he bought for 180,000 dollars in the 1970s and that is now valued at more than 60 million.
He says his office is there, and that is where he usually holds business meetings. People must be delighted to meet Branson at his “office”.
However, Branson’s decision to make the Virgin Islands his usual residence has drawn a lot of criticism, with accusations that he uses the territory for tax reasons. Branson says he lives there because he loves the islands and has the quality of life he always dreamed of, and because it is a strategic location for doing business.
Branson’s challenges
At 63, Branson still has unusual energy. In 1987 he became the first man to cross the Atlantic Ocean in a balloon. He later made several attempts to fly around the world in a balloon, but failed. He says it is still on his to-do list.
In 2010 he ran the London Marathon in 5 hours and 2 minutes. Whenever he gets the chance, he takes part in cycling races, rock climbing, mountaineering and scuba diving. Set Branson a challenge and he will give it a go.
Curiosities
Every year Richard Branson gets a free Range Rover as a thank-you for talking publicly about how he survived a serious accident in one of these cars.
One of his most awkward moments came when a photo of him carrying a naked model on his back went around the world. When the gossip press tried to stir up trouble with his wife, she simply shrugged it off as typical Richard.
Branson’s latest
Branson’s latest stunt came a few days ago, when holidaymakers on the beaches of Bournemouth were surprised by the appearance of a kind of sea monster. Only by getting close to the statue could you see that it was a technologically connected sea creature, holding a mobile phone and a television. It even bore a certain resemblance to Richard Branson. It was his way of saying that Virgin has made a strong entrance into the new era of mobile technology.
It really must be fun to be Richard Branson. He is an example of how to live intensely, a life full of passion, enjoying every moment. Above all, he is one of those entrepreneurs who motivate others to organise their company well, so that having your own business is not a burden but a great liberation to do everything you are passionate about, including doing business on your private island.
Further reading
- Richard Branson: relax this summer, but stay open to big ideas
- Richard Branson: 6 business lessons from sporting success
Featured image: Steve Jurvetson, CC BY 2.0, via Flickr.
