Beautiful Virgin Islands

Tuesday, Jun 03, 2025

Sir Richard Branson thought 'we were going to lose everything' in pandemic

Sir Richard Branson thought 'we were going to lose everything' in pandemic

Sir Richard Branson has said he feared he was going to lose his entire business empire during the pandemic.

The British businessman said he found a media backlash "painful" after the Virgin Group asked the UK government for a loan to save the company.

Given his personal wealth and home on a Caribbean island, he was criticised for asking for a bailout when airline Virgin Atlantic hit trouble.

Sir Richard told the BBC he personally lost around £1.5bn during the pandemic.

The struggles to save his businesses left him "a little depressed" for a couple of months, he said. "I'd never experienced that before in my life."


Worst case scenario


He explained: "We had 50, 60 planes all on the ground, and the health clubs all closed, the hotels all closed. And the worst [case] would have been 60,000 people out on the streets."

The support the company requested was, he said, "not gifts from government, but underwriting loans so the cost to the airline... was not prohibitive."

The government refused his request for a reported £500m bailout, however. A private rescue deal eventually saw the Virgin Group inject £200m, with an additional £1bn provided by investors and creditors.

"There was a time when I thought we were going to lose everything," Sir Richard said. "We sold shares in companies that were public and that was one way we managed to find money."

Sir Richard, pictured with burlesque artist Dita Von Teese in 2010, said people would feel "uncomfortable" with such photoshoots today


In a wide-ranging interview with the BBC's Amol Rajan, Sir Richard also discussed his marketing campaigns and publicity stunts of the past - often involving glamorous women, who he sometimes threw over his shoulder.

Asked if those stunts now made him wince, he replied: "It would make me wince if I felt the women were uncomfortable at all.

"I don't think that I ever made anybody feel uncomfortable. In those days, it made them smile... But today obviously, I think people would feel uncomfortable with something like that.

"So it's changed and I fully accept that. And I've changed alongside everybody else."

Sir Richard Branson travelled to space in 2021 in his Virgin Galactic commercial space plane


In 2021, Sir Richard achieved a lifelong ambition and reached the edge of space in his Virgin Galactic commercial space plane. "It was one of those most extraordinary days, every aspect of it", he said.

He defended space exploration as a worthwhile investment, when asked whether launching rockets should be a priority for the ultra-rich, or is compatible with tackling climate change - a cause to which he has devoted extensive effort and money.

"Communication between people is being transformed because of space travel and satellites up there," he said. "Monitoring things like the depredation of rainforests and illegal fishing... [there are] all these kinds of benefits that come from space travel."

However, his satellite launch rocket company Virgin Orbit filed for bankruptcy in the US last month after failing to secure new investment.


Succession planning


In recent years, Sir Richard has also campaigned to promote awareness of dyslexia, a term rarely used and even less understood when he dropped out of school at 15. He revealed that, shortly after being sent to boarding school aged seven, he was beaten so badly - "for being stupid" - that he bled.

"It was... pretty horrendous in those days. And yes, as a dyslexic, I thought I must be stupid because they had never heard of [it]. The word dyslexic didn't exist."

As well as dyslexia, Sir Richard thinks he probably has attention deficit disorder, and acknowledged he does get bored easily.

At the age of 72, the businessman still heads the Virgin Group - but admitted he does have thoughts about succession planning.

"We have serious discussions as a family about how the company can transform hopefully thousands people's lives in the years to come and hopefully in the centuries to come," he said.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×