on Richard Branson's last day at school
his headmaster told him that he would
either end up in prison
or become a millionaire spoilers both
predictions would in fact come true
as of January 2018 Richard Branson
enjoys a net worth of 5.1 billion
dollars Branson's of big character and
so too is his story too big to fit into
a short video so let's cut to the chase
well Richard Branson did it the
old-fashioned way hard work super
effective branding and empire building
he'd be right a lot of entrepreneurs
today build the business with an exit
strategy in mind to sell it for big
returns before moving on to another
venture not so with Branson his one big
sale of Virgin Records in 1992 for 1
billion dollars left him in tears and
aching to return to the music business
which he eventually did in 1996 with his
new record label d2 Branson instead
diversified added-on industry after
unrelated industry to the Virgin brand
from music records to Airlines to
finance to trains to publishing the
Virgin Empire grows in an extensive but
successful manner just like its founder
so where did it all begin at the age of
16 his first business venture was a
magazine called student here's a fun
fact the business operated out of a
church crypt for some time during its
early days everyone worked fast to avoid
being the last to leave at night student
magazine advertised and sold the most
popular records at the time via mail
order noticing how well that aspect of
the business was doing Branson and his
team decided to focus their efforts on
mail order records by 1970 one of
Branson's first employees suggested that
because they were all new at business
why not use the name virgin it's duck
the mail order business suffered because
of a major postal strike can you pay so
in 1971 the first virgin record shop
complete with listening booths and
beanbag chairs for customer comforts
opened in London unfortunately his
businesses were still not making money
risen had an idea he would sell records
in purging stores which had been
declared export stock thus saving 33
percent v80 a bridge net business and a
virgin at crime Branson was soon caught
by UK customs and arrested for not
paying duty
unban loads of records he spent a night
in jail before his parents posted bail
he avoided going to court by agreeing to
pay a fine plus any duties owed
incentives come in all shapes and sizes
admitted Branson but avoiding prison was
most persuasive incentive I've ever had
the music label Virgin Records was
founded in 1972 and when his first
artist Mike Oldfield sold over 5 million
copies of tubular Bell Branson became a
millionaire for the first time you see
both predictions came true the record
company would go on to sign iconic acts
such as The Sex Pistols and virgin group
would grow into an equally well-known
brand comprising investments in over 400
companies knighted in 2000 Sir Richard
Branson is regarded as one of the world
fund billionaires his world
record-breaking games are well known and
documented in 1985 he had to be rescued
by the British Royal Air Force when his
boat capsized in an Atlantic Ocean
record attempt however some of his other
piece have been more successful in 1991
Branson crossed the Pacific from Japan
to Arctic Canada with a record-breaking
speed of 245 miles per hour a big fan of
reading like many other successful
billionaires such as Warren Buffett in
Elon Musk he founded virgin comics in
2006 saying that it will give a whole
new generation of young creative
thinkers a voice with this launch he
brought back Damned air pilot of the
future Griffin himself is keen to follow
in the footsteps of this 1950 space hero
with Virgin Galactic a space flight
company the ultimate aim is to provide
sub-orbital launches for space science
missions and spaceflight for fair paying
space tourists Branson himself hopes to
be on one of the first flight biofuels
with jet aircraft is another of his
passions virgin has been exploring
different methods using sugarcane and
algae to develop aviation fuel Branson
is aware that any breakthrough which
provides a viable cheaper fuel would be
a gold mine both commercially and for
the planet Branson is a complex
character full of contradictions a
maverick willing to buck the law turned
respected businessman a man who projects
a social conscience yet lives as a tax
exile on Necker Island ironically in the
British Virgin Islands a former climate
change skeptic turned environmentalist
and biofuel investor a business epitaph
for Branson could well be
one of his most famous quotes you don't
learn by following the rules you learn
by doing and by falling over thanks for
watching this video we look forward to
making a video on your billion-dollar
success story one day don't forget to
click the subscribe button to see how
other billionaires got to where they are
today
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