How did Richard Branson make his first million?
Richard Branson made his first million through his company, Virgin Records, a mail-order record business and a record shop. His big break came when he launched Virgin Records as a record label and signed Mike Oldfield, whose album Tubular Bells became a huge success in 1973. The album sold millions of copies, making Branson a millionaire.
He founded Virgin Records in 1972, operating out of a church basement. He started by selling discounted records via mail order and later opened a record store on London’s Oxford Street.
By diversifying , Branson built Virgin into a globally recognized brand. Branson eventually expanded into various other industries like airlines, telecom, and media.
He is one of the most fun-loving and adventurous billionaires in the world. He’s attempted various record-breaking feats, including being the first to cross the Atlantic in a hot air balloon and trying to circumnavigate the globe by balloon.
Branson owns Necker Island, a luxurious private island in the British Virgin Islands. It’s a popular getaway for celebrities and high-profile events, available for rent.
At the age of 16, he left school to start his first business student magazine, which covered a wide range of youth culture music and news. It featured interviews with British celebrities like Mick Jagger and John Lennon turning into an even more successful recording studio and then record label Virgin Music.
Under the Virgin brand, Branson has launched over 400 companies, including ventures in music, airlines, telecommunications, health, fitness, and even cola.
Branson is dyslexic and has spoken openly about how it affected him during his school years. However, he believes it’s helped him develop strengths in other areas, such as problem-solving and delegation.
Branson has written several best-selling books, including his autobiography “Losing My Virginity”, which details his entrepreneurial journey and adventures.
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