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 and the co-founder of the Virgin Group in 1970. Known for his adventurous spirit and flamboyant personality, Branson has built a diverse empire encompassing various sectors, including airlines, music, telecommunications, and space tourism. He is celebrated for his unconventional business strategies, risk-taking ventures, and commitment to social and environmental causes. Branson's entrepreneurial journey exemplifies innovation and disruption, making him a globally recognized figure in the business world.

Sections (6)

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

1971: Tax Evasion Conviction

In 1971, Richard Branson was convicted for tax evasion and briefly jailed for fraudulently obtaining export documents for records to be sold on the domestic market to avoid paying Purchase Tax.

1971: Questioned in connection with selling of records

In 1971, Richard Branson was questioned in connection with the selling of records declared as export stock and later agreed to repay unpaid purchase tax and a fine.

1985: First Attempt at Fastest Atlantic Ocean Crossing

In 1985, Richard Branson attempted the fastest Atlantic Ocean crossing by ship in the Virgin Atlantic Challenger, which capsized in British waters, leading to 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: Sold 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 started his attempts to circumnavigate the globe by balloon along with Per Lindstrand, Vladimir Dzhanibekov, Larry Newman and Steve Fossett.

1998: Record-Breaking Flight from Morocco to Hawaii

In late 1998, Branson, along with others, made a record-breaking flight from Morocco to Hawaii by balloon, but were unable to complete a global flight.

March 1999: Failed to Circumnavigate the Globe by Balloon Before Breitling Orbiter 3

In March 1999, despite multiple attempts between 1995 and 1998, Branson and his team were unable to complete a global flight before Bertrand Piccard and Brian Jones in Breitling Orbiter 3.

October 2007: Virgin Group's Bid for Northern Rock

In October 2007, Virgin Group sought to acquire Northern Rock, offering Branson 30% ownership and a name change to Virgin Money. The bid faced opposition due to Branson's past tax evasion conviction.

June 2008: Plans to Pay GPs for Referring NHS Patients to Virgin Services Abandoned

In June 2008, plans to compensate general practitioners for referring National Health Service patients to private Virgin services were discontinued. The BMA cautioned that this scheme could undermine 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 under sail in the Virgin Money sloop. The attempt was unsuccessful due to a 'monster wave' that destroyed the spinnaker and damaged the mainsail. The sloop eventually continued to St. George's, Bermuda.

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.

2009: Virgin Nigeria ceased operations

In 2006, Virgin Nigeria had been started, but it ceased operations in 2009.

August 2012: InterCity West Coast Franchise Awarded to FirstGroup

In August 2012, the re-tendered InterCity West Coast franchise was awarded to FirstGroup, prompting concerns from Branson regarding the tender process and the validity of FirstGroup's business plan.

2014: Criticism for failure to meet pledge

As of 2014, Naomi Klein criticised Branson for contributing "well under $300 million", far below his originally stated goal. She also stated that Virgin airlines' greenhouse gas emissions increased considerably in the years following his pledge.

May 2018: Early Termination of Virgin Trains East Coast Contract Announced

In May 2018, due to the line's underperformance relative to expectations, it was announced that the government would prematurely terminate the Virgin Trains East Coast contract.

September 2018: Branson Participates in Virgin Strive Challenge

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

March 2020: Criticism During COVID-19 Pandemic

In March 2020, during the COVID-19 pandemic, Branson and Virgin faced criticism for asking staff to take unpaid leave. Branson offered Necker Island as collateral for a loan to save Virgin Atlantic.

May 2020: Virgin Atlantic Announces Layoffs and Fleet Reduction

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

2022: Fleet Size Reduced to 35

By the summer of 2022, Virgin Atlantic reduced the fleet size to 35 aircrafts as part of the measures taken during the COVID-19 pandemic.

September 2023: Branson Halts Further Investment in Virgin Galactic

In September 2023, Richard Branson announced his decision to cease injecting additional funds into Virgin Galactic due to financial constraints within his business empire.