RICHARD BRANSON, ONE OF BRITAIN'S BEST-KNOWN BILLIONAIRES BY PUTTING HIS VIRGIN TRAIN BRAND ON AN ARRAY OF BUSINESSES, is now at the epicenter of the meltdown in those industries due to the economic repercussions of the Coronavirus pandemic.
Mr. Branson said he planned to borrow money against his private island to save jobs at his portfolio companies. "Over the five decades I have been in business, this is the most challenging time we have ever faced," he wrote in a letter to his employees.
Mr. Branson has started more than 400 companies, including over 60 current businesses. Some of those companies include Virgin Australia and recently rebrandedhigh-speed passenger rail Virgin Trains USA (formerly Brightline).
Read more here.
Original article was written by Benjamin Katz and Alistair Macdonald of The Wall Street Journal.
Photo: Sim Dawson/Reuters