United Kingdom
United States
Asia Pacific
Branson sells USD300 million stake in Virgin Galactic
Virgin Galactic founder Sir Richard Branson has offloaded more of his ownership stake in the space tourism business to help prop up other brands including Virgin Atlantic.
Branson, via his Virgin Investments group, sold 10.4 million shares worth about $300 million.
"The Virgin Group continues to be the largest single shareholder in Virgin Galacti. intends to use the net proceeds from this sale to support its portfolio of global leisure, holiday and travel businesses that continue to be affected by the impact of the Covid-19 pandemic," Virgin Group said in a statement.
It is Branson’s third sale of stock since Virgin Galactic went public in 2019.
Through the share sales he is thought to have recoupled nearly $1 billion of his initial investment.
He sold $505 million worth in May 2020 and $150 million a year later.
Virgin Atlantic itself could go public soon according to recent reports.
The airline said it is hopeful the US will allow travel from the UK by next month.
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference
Insights from James Ferrara on Inteletravel’s Growth and Future
Tricia Handley-Hughes on Inteletravel’s Growth and Challenges
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel
Turkish Airlines flight in emergency landing after pilot dies
BA pilot dies during layover
Boy falls to death on cruise ship