Richard Charles Nicholas Branson, popularly known as Richard Branson was born on 18th July 1950 in Blackheath, London, England. After completing his school, one of his teachers told him that he will either become a billionaire or will spend most of his life in prison. His teacher’s guess was right and at present, his net worth is close to five billion dollars and he is internationally popular as the king of Virgin Empire.
Apart from Virgin Records, he also works on stocks and he is an active investor. According to Forbes, he is the seventh richest billionaire in the whole United Kingdom. Starting from the name of the company to the business, tactics that he uses are innovative and they have fetched him due recognition. He and his friends are new to business and their business tactics are fresh; hence Branson suggested the name “Virgin” when they were planning to start a music recording company.
From the music series, he expanded the Virgin Empire to several sectors which include but not limited to Film and TV production, Airways, Railways, Communication and Animation etc. Though all this seems fine, very few are aware s about the struggles he faced in creating the gigantic Virgin Empire. While he started selling the music records, the market for music records was dull and he used marketing strategies like giving discounts, redeeming points for repeated customer’s etc. to make his business successful.
Once the Virgin Records became stable, he gave opportunities to so many bands and some of them also became controversial. After he expanded his business to Airways, Virgin Atlantic gave stiff competition to already well-established British Airways. British Airways involved in some unethical practices and Branson won the legal case against it and distributed the money he got in the form of compensation to the Virgin Atlantic employees. At present, he is concentrating on renewable energy sources and offering scholarships to researchers who are working on economically viable alternative energy sources.