Challenges in the Life of Richard Branson in a Detailed Timeline

A closer look at the defining struggles that shaped Richard Branson's life and career.

Richard Branson is a prominent English business magnate best known for co-founding the Virgin Group in 1970. He is known for his adventurous spirit, risk-taking approach to business, and diverse portfolio of ventures. Branson's Virgin Group encompasses various sectors, including airlines, telecommunications, media, and even space tourism with Virgin Galactic. He is also a well-known philanthropist, involved in various charitable initiatives. His personality is also tied to his success, given he is charismatic and a media personality. As of 2016, he controlled five companies within Virgin Group.

Sections (6)

Full Timeline Early Life & Education Career & Achievements Success & Recognition Challenges & Struggles Controversies & Scandals

1971: Questioned Regarding Export Stock

In 1971, Richard Branson was questioned in connection with selling records declared as export stock, leading to a settlement involving unpaid purchase tax and a fine.

1985: First Attempt at Fastest Atlantic Crossing by Ship

In 1985, Richard Branson attempted the fastest Atlantic Ocean crossing by ship in the Virgin Atlantic Challenger, but the boat capsized in British waters, requiring a Royal Navy helicopter rescue.

1991: Unsuccessful Bid for ITV Franchises

In 1991, Richard Branson, in a consortium with David Frost, made an unsuccessful bid for three ITV franchises under the CPV-TV name.

1992: Sale of Virgin Label to EMI

In 1992, Richard Branson sold the Virgin label to EMI for £500 million to keep his airline company afloat.

1995: First Attempt to Circumnavigate the Globe by Balloon

In 1995, Richard Branson began several attempts to circumnavigate the globe by balloon, in collaboration with Per Lindstrand, Vladimir Dzhanibekov, Larry Newman and Steve Fossett.

1998: Record-Breaking Flight from Morocco to Hawaii

In late 1998, Richard Branson, Per Lindstrand and Steve Fossett made a record-breaking flight from Morocco to Hawaii, but were unable to complete a global circumnavigation by balloon.

March 1999: Failure to Circumnavigate the Globe

In March 1999, Richard Branson failed to circumnavigate the globe by balloon before Bertrand Piccard and Brian Jones in Breitling Orbiter 3.

October 2007: Virgin Group's bid for Northern Rock

In October 2007, Richard Branson's Virgin Group made an offer to acquire Northern Rock, proposing to rename it Virgin Money with Branson personally owning 30% of the company. The bid faced opposition, partly due to Branson's past tax evasion conviction.

June 2008: Plans for NHS patient referrals to Virgin services abandoned

In June 2008, plans were abandoned where GPs could be paid for referring National Health Service (NHS) patients to private Virgin services after the BMA warned the plan would "damage clinical objectivity".

September 2008: Unsuccessful Atlantic Ocean Record Attempt

In September 2008, Richard Branson and his children attempted an eastbound record crossing of the Atlantic Ocean in the sloop Virgin Money. The attempt was unsuccessful due to severe weather conditions, including a 'monster wave' that damaged the boat.

September 2008: Plans to take over NHS practice in Swindon abandoned

In late September 2008, plans for Virgin to take over a National Health Service (NHS) practice in Swindon were abandoned.

August 2012: Loss of InterCity West Coast Franchise

In August 2012, the InterCity West Coast franchise was awarded to FirstGroup, leading Richard Branson to express concerns about the tender process and question FirstGroup's business plan.

May 2018: Termination of Virgin Trains East Coast Contract Announced

In May 2018, it was announced that the contract for Virgin Trains East Coast would be terminated early due to the line's underperformance.

June 2018: Virgin Trains East Coast Ceases Operations

On June 23, 2018, Virgin Trains East Coast (VTEC) ceased operations, with the services taken over by the government-owned London North Eastern Railway.

September 2018: Fourth Virgin Strive Challenge

In September 2018, Richard Branson participated in his fourth Virgin Strive Challenge, traveling over 2,000 km from Cagliari to Mont Blanc using human and sail power to raise funds for Big Change.

March 2020: Criticism for Unpaid Leave Request During COVID-19 Pandemic

In March 2020, during the COVID-19 pandemic, Richard Branson and Virgin faced criticism for asking staff to take eight weeks' unpaid leave amidst a dramatic decline in international air travel.

May 2020: Virgin Atlantic Layoffs and Fleet Reduction

On May 5, 2020, Virgin Atlantic announced it would lay off 3000 staff, reduce the fleet size to 35 by summer 2022, retire the Boeing 747-400s, and cease operations from Gatwick Airport due to the COVID-19 pandemic.

2022: Virgin Atlantic Fleet Reduction Completed

By the summer of 2022, Virgin Atlantic completed its fleet reduction to 35 aircraft as announced in May 2020, in response to the COVID-19 pandemic.

September 2023: Branson's Decision Against Further Investment in Virgin Galactic

In September 2023, Richard Branson announced that he would not invest additional funds into Virgin Galactic due to the company's financial losses and the limited financial resources of his business empire.