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Sir Richard Branson is an English business magnate, investor, manager and philanthropist who founded the Virgin group of more than 400 companies.
Richard Branson was born in London 18 July 1950. Suffering from dyslexia, Branson did not excel at studies; he was more interested in extracurricular activities, such as football and cricket. At the age of 15, he had started to try his first business ventures, which included trying to grow trees and another raising budgerigars.
After quitting school he began his first successful business. He started a magazine about youth culture, called The Student. It was produced by students, for students and was launched in 1966. Branson was able to attract significant advertisement from firms wishing to tap the student market.
Branson had a keen business sense and he set up a mail order record company, called Virgin to complement the student magazine. Branson later said he got into business out of accident – not to make money.
With modest profits from his magazine and mail order business, he was able to get a record shop on Oxford Street, London. Virgin experienced good growth.
As the record business expanded, Branson created his own record label – Virgin Music in 1972. The, Branson to signed up some of the top bands of the era, including Culture Club, the Rolling Stones, Genesis, and controversial bands such as the Sex Pistols.
In 1984, Branson branched out into his biggest business venture – forming Virgin Atlantic Airways, and started competing in a market dominated by big national carriers, such as British Airways. At times this rivalry was intense, with Virgin accusing British Airways of dirty tricks in poaching customers. However, in 1992, Branson had to sell Virgin records to EMI for £500m.
Other big business ventures of the Virgin group include Virgin Mobile in 1999 and entering into British railways with Virgin Trains in 1993. In 2007, he created Virgin Money. Less successful ventures include Virgin cola, and Virgin vodka.