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Richard Branson

Business angel?

Mark Brassington explores the myths and realities of one of the world’s most flamboyant businessmen

The Virgin Galactic space tourism plan appears to be stuck in the sidings — it is now several years overdue after having been expected to be operational by 2009, and many customers have asked for their fares to be refunded. The programme also received adverse publicity after a pilot was killed when SpaceShipTwo crashed on a test flight in 2014. But to many, the 7-year delay of Virgin’s space programme pales into insignificance when compared to its late-running trains — a recent article in the Birmingham Post revealed that Virgin Trains receives more complaints than any other UK railway company. Yet Richard Branson is still one of the most successful and wellknown business figures of the last 50 years. He has acquired personal wealth of over £3 billion, been knighted, founded over 400 companies and appeared in the Bond film Casino Royale.

Most (though not all) of his ventures have been successful, but rarely does he invest his own money, relying instead on governments and rich middle-eastern investors. He acquired nearly £400 million from such sources for Virgin Galactic.

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Segmentation in the sportswear market

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