Richard Branson net worth

Sir Richard Branson is an English entrepreneur, investor, philanthropist, and author. Most notably, he’s the man behind Virgin Group, which he founded in the 1970s. The group controls over 400 companies in fields such as transportation, technology and space exploration.

 

Richard’s first entrepreneur endeavour began at age 16, where he ran a magazine called Student. Virgin Records, which was a chain of record stores, was his first Virgin Group company. 

 

Branson was knighted for services to entrepreneurship in 2000, making him a Sir. Branson was named in the Time 100 Most Influential People in The World list due to his humanitarian work, huge PR presence and entrepreneurial prowess.

 

Branson often gets involved with television and film too, with a staggering 208 credits to his name on IMDB for Self, and 11 acting credits. Shark Tank, Superman Returns, Late Show with David Letterman, Ellen and so on.

 

Branson is also known for his incredible 30-hectare island that he owns, named Necker Island, which is part of the British Virgin Islands north of Virgin Gorda. $180,000 in 1978 is what Brandon paid for the island, which has certainly seen a vast increase in value since. The island has been well documented on TV, and lies only a few kilometers from Mosquito island, which is an island owned by Branson.

 

Being clued in to the importance of his image, Branson has made several world records breaking attempts. In 1985, he attempted to cross the Atlantic Ocean in record time, which failed. Though in 1986, he succeeded in his Virgin Atlantic Challenger II, with the help of Daniel McCarthy. He also broke many other records, such as crossing the pacific from Japan to Canada in a hot air balloon.

 

How rich is Rich?

Branson is estimated by Forbes to have a Net Worth of $3.4bn, which places him 545th on the rich list, and 17th on the UK’s rich list. His real-time net worth however is estimated to be as high as $4.5bn as of the 13th of August 2020. 

 

Branson invests in a multitude of different companies. He has investments in money transfer company Transferwise (even larger company than OFX), all the way to Virgin Galactic, which aims to put ordinary people into space for $250,000.

 

Many of his ventures are joint, often opting to partner with already-influential market players. For example, Virgin Trains was launched in 1977, but was 49% owned by Stagecoach, which was a successful transport group that already had expertise in the field. Virgin Active, which has 122 health clubs in the UK, is 49% owned by CDC, a private equity firm. Though Richard relishes his image as an entrepreneur over a businessman, he doesn’t sit on the board of any of the Virgin companies.

 

Branson’s current difficulties

Branson has been known for taking bold risks, but he’s currently undergoing his biggest challenge yet. Much of his Virgin Group is in the travel industry, which operates hotels, airlines, trains, holiday planning and so on.

 

Of course, Coronavirus has brought this industry to an abrupt halt and many travel companies are going bankrupt or close to it, including Virgin Atlantic, which filed for US bankruptcy protection. This is essentially a race to a $1.5bn plan to rescue it from the worst crisis that aviation has ever seen.

 

The airline is still operating but believes it won’t be profitable again until 2022. Virgin Australia, a sister company, is undergoing restructuring under their new owner.

 

Richard Branson had already asked the UK government for a £500 million taxpayer bailout to prevent the collapse of Virgin Atlantic. This sparked controversy, with other high profile entrepreneurs denouncing his actions. Duncan Bannatyne Tweeted “I have gone to the Bank NOT the UK tax payer. The bank”, claiming a viable business will get money from the bank.

 

If we wind back to March, when the UK first entered lockdown, Branson was attacked in Parliament when he suggested that Virgin Atlantic staff take 8 weeks unpaid leave during the pandemic, to which MPs claimed he should pay his own way out of the crisis.

 

The Future Of Branson

Being 70 years of age, Richard shows very few signs of slowing down. Despite being in his most challenging period, he seems to be fighting tooth and nail. Moving forward, we are seeing Branson put his Necker Island up for collateral along with some other possessions to help save Virgin Atlantic and secure a loan.

 

Hopefully, Branson’s high-energy innovation and vision makes not only his travel companies work during this pandemic, but is conducive to a world that can safely deal with these issues, or even attempt to solve them.

How to Properly Ensure Financial Means for Purchasing a New Car?

A car is a big purchase. Most people don’t have the money to go out and buy a new car. Unless you’re one of the lucky few who won the lottery, you’ll need to save up for a while before buying your dream car. This article will discuss some tips on ensuring financial means for purchasing a new car properly.

 

Research Financing Options

The first step to buying a new car is figuring out how you’re going to finance it. There are many different financing options available, so you should research all of your options before deciding which one is best for you. You may be able to get a loan from a bank or credit union, or you could use a car loan calculator to figure out how much money you can afford to borrow.

Whatever option you choose, read the terms and conditions carefully before signing anything. You don’t want to end up with a car payment that’s more than you can afford. If possible, try to save up some money for a down payment. It will help reduce the amount of money you have to borrow and help you get a lower interest rate.

Shop Around for the Best Deal

When shopping for a new car, it’s important to compare prices. Don’t just go to the first dealership you see. Shop around and find the best deal possible. You can use online tools to get an idea of what the car is worth. It will help you negotiate a better price when buying your car.

 

If you’re unsure which car to buy, visit different dealerships and test drive a few other models. You’ll be able to get a feel for which one is right for you. One thing to note, according to this BMW dealer in Pembroke Pines, is that you need to go for a fast, easy, and transparent car experience. And don’t hesitate to negotiate for a reasonable price. Many dealers are willing to lower their prices if they know they’re going to make a sale.

Consider Getting a Loan or Leasing

If you’re not quite ready to buy a new car, you can consider getting a loan or leasing. A loan will allow you to purchase a vehicle that’s within your budget, and you can usually make smaller monthly payments than you would if you were leasing. Leasing is another option that can be cheaper than buying a car outright. You’ll need to decide how many miles you want to put on the car each year, and you’ll also have to pay attention to the lease agreement term. Be sure to ask about termination fees before signing anything. Whatever option you choose, ensure you understand the terms and conditions before signing anything. It’s important to know what you’re getting into so that you don’t end up with a car payment that’s more than you can afford.

Check Your Credit Score

Before you start shopping for a new car, it’s essential to check your credit score. It will help you determine what type of financing options are available. If you find that your credit score is low, you can do things to improve it. You may need to pay off some of your debts or make some improvements to your credit history. Ensuring your credit score is in good shape will help you get the best interest rate possible on your car loan.

Figure Out Your Budget

Before shopping for a new car, figure out what you can afford. You’ll need to know how much money you have available for a down payment and how much your monthly payments will be.

You can use a budget calculator to help you figure this out. Or, you can talk to a banker or credit union about financing options.

If possible, try to save up some money for a down payment. It will help reduce the amount of money you have to borrow and help you get a lower interest rate.

When figuring out your budget, don’t forget about car insurance and maintenance costs. These can add up quickly, so make sure you factor them in when deciding how much money you can afford to spend.

Apply for a Car Loan

 

If you don’t have the money to buy a new car outright, you may need to apply for a car loan. It is a process where you borrow money from a bank or credit union to purchase a car.

When applying for a car loan, be sure to compare interest rates. The lower the interest rate, the less money you’ll end up paying in total.

It’s also important to know your monthly payments to determine if the loan is affordable for you. Some banks and credit unions offer pre-approval so that you know how much money you can borrow before you start shopping for cars.

 

There are many things to consider when purchasing a new car. By following these tips, you’ll be able to get into the perfect car for you without breaking the bank.

 

How To Find The Top Crypto Lending Platform

One of the best ways that a person can get ahead financially is by taking advantage of a Crypto lending platform. This can be a great way for someone to get ahead and make sure that they have enough funds to do what they need in life, without going into debt or going too far into their savings. Taking out a loan can add extra income and help a person get what they need and want alike. A crypto loan is just like any other type of secured or unsecured loan that you might think of, but it is carried out using cryptocurrency instead of fiat currency. This means that you can use either a stablecoin or a token that is converted into a cryptocurrency in order to get the loan. However, in order to get a loan perfectly suited to you, you should take a look at what it takes to find the best platform for your cryptocurrency loans.

1. Interest Rates And Fees

Before you start looking for the best crypto lending platform, you should check out how much it is going to cost. You need to make sure that you are getting a fair deal on the interest rates that are charged if you want to get the loan in an effective way. Looking up the latest Celsius interest rates, or the rates of any other reputable crypto lending platform is always a good first step. A lot of cryptocurrencies charge higher than average interest rates, but there are always lower rates available when you know where to look. One of the things that can turn people off of crypto lending is hidden fees. Some companies charge random fees in order to borrow money, but others keep everything simple and easy for you. You should make sure that you are not getting charged any type of fees that you do not know about, or cannot justify. This will make sure you pay the lowest rates possible.

2. Reputation And Reliability

Along with low-interest rates, you should also check up on the reputation of the company that is offering your loan. When looking for the best crypto exchange you want to keep an eye out for companies that are well-known, reliable, and have a good history. You should make sure the company you are thinking about using has been around for at least a few years if possible. This is because it can take time to build up a reputation in the crypto world, so there’s no point in getting involved with a company that is brand new. You also want to make sure the company has survived bear markets, market crashes, and other industry events in order to show that they are reliable when it matters most. You can usually find out how long they have been in business before you sign up by checking out their website.

3. Types Of Loans And Loan Options

When you choose to take out a crypto loan, you can always get different options on how you want to get paid back. You can get secured, unsecured, long-term loans, short-term loans, and anywhere in between if you know where to look. Lending platforms are not all the same when it comes to what they offer their users, so you should check out your options before signing up for anything. These crypto lending platforms will be able to offer you the loans you need, but they will also be able to offer you the flexibility that you want. The loan type will also depend on whether it’s a centralized finance platform or a decentralized finance platform you’re looking into. In the first case, it’s probable that the lander’s assets and the borrower’s collateral will become the platform’s ownership during the duration of the loan. With these kinds of platforms, you often can’t take out a loan anonymously either. On the other hand, a decentralized platform might set up conditions that allow for complete automation of the process, but the amount of money you’d be able to borrow could be much lower.

4. Fund Security And Transparency

One of the things that makes cryptocurrency lending so interesting is the security features that are built into this process. A lot of companies will ensure their users’ funds are extremely safe by doing everything they can to keep things anonymous and secure. You should make sure that you are aware of the security features that come with your loan when you sign up for a crypto lending platform in order to make sure everything is protected in the way it should be. Features like multi-sig wallets, cold storage, hardware wallets, and other techniques are all great ways to ensure your account is not hacked or compromised in any way. If the platform you’re looking into does not have these features, then you should consider finding one that does. Like any other loan provider out there, crypto lending companies are also bound by internal protocols and regulations that go along with them. If this information is not outlined on their site then you should consider looking somewhere else for your loan.

5. Optimizing Your Loan Experience

If you are not totally sure what your experience with a crypto lending platform will be like, then you should look for reviews from other people who have previous experience with the company first. You can find these by looking up the platform and finding out where other users and customers talked about their experiences so you know what to expect. In the past, people have been charged high-interest rates for taking out a loan using cryptocurrencies, so you want to make sure this doesn’t happen to you. It would be wise to look at several different platforms before making your decision so that you can compare them and get the best deal possible. This also goes for fees that might come with the loan you take out or how much money you can borrow. You should also check to see if there’s a way for you to get your money back early before signing up if this is something that interests you.

When choosing a crypto lending platform, you should always make sure that you know the ins and outs of what they have to offer. This means knowing about their security features, fund protection protocols, along with being able to access your money whenever you want. If these kinds of options are not available then it might be time for you to go elsewhere, and find a platform you can really trust.

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