Richard Branson sale props up empire

The proceeds will support Branson's travel and leisure businesses, and help develop new and existing ventures

15 August 2021 - 00:19 By Agency Staff

Richard Branson has sold about $300m in Virgin Galactic stock, tapping his biggest listed asset again to prop up his business empire during the pandemic.

The billionaire sold almost 10.5-million shares, about 4% of the space-travel company, through a company he controls, leaving him with an 18% stake, according to a regulatory filing. The proceeds will support Branson's travel and leisure businesses, and help develop new and existing ventures, a Virgin Group representative said. Branson remains Virgin Galactic's biggest shareholder...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.



Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.