Editing Richard Branson (section)

=== 2001–2007: Entry into space travel and Virgin Media ===
[[File:Richard Branson 2001.jpg|thumb|upright|left|Branson in 2001]]
On 25 September 2004, Branson announced the signing of a deal under which a new [[space tourism]] company, [[Virgin Galactic]], will license the technology behind [[SpaceShipOne]]—funded by [[Microsoft]] co-founder [[Paul Allen]] and designed by aeronautical engineer [[Burt Rutan]]—to take paying passengers into [[suborbital]] [[outer space]]. Virgin Galactic plans to make flights available to the public with tickets priced at US$200,000 using the [[Scaled Composites White Knight Two]].<ref name=sn20131111>
{{cite news |last=Klotz|first=Irene |title=Profile : Sir Richard Branson, Founder, Virgin Galactic |url=http://www.spacenews.com/article/features/38109profile-sir-richard-branson-founder-virgin-galactic |archive-url=https://archive.today/20131127123945/http://www.spacenews.com/article/features/38109profile-sir-richard-branson-founder-virgin-galactic |url-status=dead |archive-date=27 November 2013 |access-date=27 November 2013 |newspaper=Space News |date=11 November 2013 }}</ref> The spacecraft, [[SpaceShipTwo]], is manufactured by [[The Spaceship Company]], which was founded by Branson and Rutan and is now solely owned by Virgin Galactic. In 2013, Branson said that he planned to take his two children, 31-year-old Holly and 28-year-old Sam, on a trip to outer space when they ride the SpaceShipTwo rocket plane on its first public flight, then planned for 2014.<ref>{{cite web|last=Boyle|first=Alan|title=First family of space: Richard Branson and kids will blaze new trail|url=http://www.nbcnews.com/science/first-family-space-richard-branson-kids-will-blaze-new-trail-8C11566225|work=NBC News|date=9 November 2013 |access-date=4 December 2013|archive-url=https://web.archive.org/web/20131203203834/http://www.nbcnews.com/science/first-family-space-richard-branson-kids-will-blaze-new-trail-8C11566225|archive-date=3 December 2013|url-status=live}}</ref> As part of his promotion of the firm, Branson has added a variation of the Virgin Galactic livery to his personal business jet, the [[Dassault Falcon 900EX]] "Galactic Girl" (G-GALX).<ref>{{cite web |url= http://gadling.com/2008/08/04/sir-richard-bransons-private-jet/ |title= Sir Richard Branson's Private Jet |date= 4 August 2008 |first= Grant |last= Martin |publisher= Gadling |access-date= 10 December 2015 |archive-url= https://web.archive.org/web/20151211093429/http://gadling.com/2008/08/04/sir-richard-bransons-private-jet/ |archive-date= 11 December 2015 |url-status=live }}</ref><ref>{{cite web |title= Windows Seat |url= http://www.traveldaily.com.au/photos/window-seat-2/194910 |date= 29 January 2011 |work= Window Seat |access-date= 10 December 2015 |archive-url= https://web.archive.org/web/20151211112204/http://www.traveldaily.com.au/photos/window-seat-2/194910 |archive-date= 11 December 2015 |url-status=live }}</ref>

He was ninth in [[Sunday Times Rich List|''The Sunday Times'' Rich List 2006]] of the wealthiest people or families in the UK, worth slightly more than £3&nbsp;billion. Branson wrote in his autobiography of the decision to start an airline.

{{blockquote|My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them ... from the perspective of wanting to live life to the full, I felt that I had to attempt it.|sign=|source=}}

In 2006, through a merger with [[SN Brussels Airlines]], Virgin Airlines formed [[Brussels Airlines]], while retaining its separate listing.<ref>{{cite news|url=https://www.independent.co.uk/news/business/news/virgin-express-creates-brussels-airline-566542.html|title=Virgin Express creates Brussels airline|date=17 March 2004|work=The Independent|access-date=4 May 2018|archive-url=https://web.archive.org/web/20180504233912/https://www.independent.co.uk/news/business/news/virgin-express-creates-brussels-airline-566542.html|archive-date=4 May 2018|url-status=live}}</ref> It also started a national airline based in Nigeria, called [[Virgin Nigeria]], which ceased operations in 2009.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/world/africa/8089858.stm|title=Virgin to sell Nigerian airline|date=8 June 2009|access-date=4 May 2018}}</ref> Another airline, [[Virgin America]], began flying out of [[San Francisco International Airport]] in August 2007.<ref>{{cite web|title=Scenes from Virgin America's inaugural flight (Aug. 8, 2007)|url=https://www.usatoday.com/picture-gallery/travel/flights/2017/08/18/scenes-from-virgin-americas-inaugural-flight-aug-8-2007/104710286/|access-date=22 October 2021|website=www.usatoday.com}}</ref><ref>{{cite web|date=9 August 2007|title=Virgin America touches down for service from San Francisco|url=https://www.eastbaytimes.com/2007/08/09/virgin-america-touches-down-for-service-from-san-francisco/|access-date=22 October 2021|website=East Bay Times}}</ref>

Branson's next venture with the Virgin group was [[Virgin Fuels]], which was set up to respond to [[global warming]] and exploit the recent spike in fuel costs by offering a revolutionary, cheaper fuel for automobiles and, in the near future, aircraft. Branson has stated that he was formerly a [[global warming sceptic]] and was influenced in his decision by a breakfast meeting with [[Al Gore]].<ref>{{cite web |url=https://abcnews.go.com/GMA/story?id=2477400 |title=Breakfast With Al Gore Persuades Branson to Pledge Billions to Global Warming |work=ABC News |date=22 September 2006 |access-date=14 September 2010 |archive-url=https://web.archive.org/web/20101021033349/https://abcnews.go.com/GMA/story?id=2477400 |archive-date=21 October 2010 |url-status=live}}</ref>

On 21 September 2006, Branson pledged to invest the profits of Virgin Atlantic and Virgin Trains in research for environmentally-friendly fuels. The investment is estimated to be worth $3&nbsp;billion.<ref>{{cite web | url=http://www.thefirstpost.co.uk/index.php?menuID=1&subID=770 | title=Come fly with me, come give it away | access-date=23 September 2006 | url-status=dead | archive-url=https://web.archive.org/web/20120229152134/http://www.theweek.co.uk/index.php?menuID=1&subID=770 | archive-date=29 February 2012 }}</ref><ref>{{cite web
 |url         = http://renewableenergyaccess.com/rea/news/story?id=46071
 |title       = Virgin Group to Invest $3&nbsp;Billion in Renewable Energy
 |access-date  = 12 October 2006
|url-status     = usurped
 |archive-url  = https://web.archive.org/web/20120203043509/http://www.renewableenergyworld.com/rea/home
 |archive-date = 3 February 2012
}}</ref>

On 4 July 2006, Branson sold his [[Virgin Mobile]] company to UK cable TV, broadband, and telephone company NTL:Telewest for £900&nbsp;million. A new company was launched with much fanfare and publicity on 8 February 2007, under the name [[Virgin Media]]. The decision to merge his Virgin Media Company with NTL was made in order to integrate compatible areas of the two businesses. Whilst Branson had owned three-quarters of Virgin Mobile, he would now get paid £8.5&nbsp;million per annum for the use of the Virgin brand name. He does not own any part of Virgin Media.<ref name="Perry">{{cite news| last = Fryer| first = Pat| title = Uma Thurman to promote Virgin Media| publisher = earthtimes.org| date = 23 January 2007| url = http://www.earthtimes.org/articles/show/23001.html| access-date = 2 February 2007| archive-url = https://web.archive.org/web/20071010095924/http://www.earthtimes.org/articles/show/23001.html| archive-date = 10 October 2007| url-status=live}}</ref>

In 2006, Branson formed [[Virgin Comics]] and Virgin Animation, an entertainment company focused on creating new stories and characters for a global audience. The company was founded with author [[Deepak Chopra]], filmmaker [[Shekhar Kapur]], and entrepreneurs [[Sharad Devarajan]] and [[Gotham Chopra]].<ref>{{cite web|url=https://www.theguardian.com/media/2006/jan/07/pressandpublishing.virginrichardbranson|title=Branson launches Virgin Comics with India appeal|last=Teather|first=David|date=7 January 2006|website=The Guardian|access-date=4 May 2018|archive-url=https://web.archive.org/web/20180505070503/https://www.theguardian.com/media/2006/jan/07/pressandpublishing.virginrichardbranson|archive-date=5 May 2018|url-status=live}}</ref> Branson also launched the [[Virgin Health Bank]] on 1 February 2007, offering parents-to-be the opportunity to store their baby's [[umbilical cord]] blood [[stem cells]] in private and public stem-cell banks.

In June 2006, a tip-off from Virgin Atlantic led both UK and US competition authorities to investigate price-fixing attempts between Virgin Atlantic and British Airways. In August 2007, British Airways was fined £271&nbsp;million over the allegations. Virgin Atlantic was given immunity for tipping off the authorities and received no fine—a controversial decision the Office of Fair Trading defended as being in the public interest.<ref>{{cite news |first=Ruth |last=Sunderland |location=London |url=https://www.theguardian.com/airlines/story/0,,2141647,00.html |title=OFT defends 'snitch' policy |date=5 August 2007|access-date=14 September 2010}}</ref>

[[File:Alberto Hazan and Richard Branson 2007.jpg|thumb|right|Branson with Alberto Hazan in June 2007 helping launch [[Virgin Radio Italia]]]]
On 9 February 2007, Branson announced the setting up of a new global science and technology prize—The [[Virgin Earth Challenge]]—in the belief that history has shown that prizes of this nature encourage technological advancements for the good of mankind. The Virgin Earth Challenge was to award $25&nbsp;million to the individual or group who are able to demonstrate a commercially viable design that will result in the net removal of anthropogenic, atmospheric [[greenhouse gas]]es each year for at least ten years without countervailing harmful effects. This removal must have long-term effects and contribute materially to the stability of the Earth's climate. Branson also announced that he would be joined in the adjudication of the prize by a panel of five judges, all world authorities in their respective fields: [[Al Gore]], [[Sir Crispin Tickell]], [[Tim Flannery]], [[James E. Hansen]], and [[James Lovelock]].

In July 2007, Branson purchased his Australian home, [[Makepeace Island]], in [[Noosa]].<ref>{{cite news|title=Sir Richard Branson's paradise island|url=http://www.cnngo.com/sydney/visit/richard-bransons-paradise-island-rent-269659|publisher=CNN|date=20 July 2011|access-date=23 May 2012|archive-url=https://web.archive.org/web/20120615192531/http://www.cnngo.com/sydney/visit/richard-bransons-paradise-island-rent-269659|archive-date=15 June 2012|url-status=dead}}</ref> In August 2007, Branson announced that he had bought a 20-per cent stake in Malaysia's [[AirAsia X]].<ref>{{cite news | url=https://www.telegraph.co.uk/finance/markets/2813816/Virgin-Group-buys-AirAsia-X-stake.html | work=The Daily Telegraph | location=London | title=Virgin Group buys AirAsia X stake | first=Emma | last=Thelwell | date=10 August 2007 | access-date=22 May 2010 | archive-url=https://web.archive.org/web/20100519152533/http://www.telegraph.co.uk/finance/markets/2813816/Virgin-Group-buys-AirAsia-X-stake.html | archive-date=19 May 2010 | url-status=live }}</ref>

On 13 October 2007, Branson's Virgin Group sought to add [[Northern Rock]] to its empire after submitting an offer that would result in Branson personally owning 30% of the company and changing the company's name from Northern Rock to [[Virgin Money (brand)|Virgin Money]].<ref>{{cite news|last1=Teather|first1=David|last2=Finch|first2=Julia|last3=Wearden|first3=Graeme|url=http://money.guardian.co.uk/news_/story/0,,2190411,00.html|title=Branson dangles offer for Northern Rock|work=The Guardian|date=13 October 2007|access-date=14 September 2010|archive-url=https://web.archive.org/web/20080119121420/http://money.guardian.co.uk/news_/story/0,,2190411,00.html|archive-date=19 January 2008|url-status=live}}</ref> The ''[[Daily Mail]]'' ran a campaign against his bid; [[Vince Cable]], financial spokesperson for the [[Liberal Democrats (UK)|Liberal Democrats]], suggested in the [[House of Commons of the United Kingdom|House of Commons]] that Branson's criminal conviction for tax evasion might be felt by some as a good enough reason not to trust him with public money.<ref>{{cite news |first=Phillip |last=Inman |url=https://www.theguardian.com/business/2007/dec/13/northernrock.creditcrunch |title=Northern Rock bidder threatens to pull out unless takeover date set, Business |work=The Guardian |location=UK |date=12 December 2007 |access-date=14 September 2010 |archive-url=https://web.archive.org/web/20131220210351/http://www.theguardian.com/business/2007/dec/13/northernrock.creditcrunch |archive-date=20 December 2013 |url-status=live}}</ref>

In September 2023, Branson declared his decision against injecting additional funds into Virgin Galactic, his space travel company experiencing financial losses. He highlighted that his business empire no longer possesses extensive financial resources, indicating constraints on further investment.<ref>{{cite web |title=Richard Branson rules out further investment in Virgin Galactic |url=https://www.ft.com/content/9fbf47ef-cc9d-4f20-bbf9-24e2d11d4a83 |access-date=18 December 2023 |website=Financial Times|date=2 December 2023 |last1=Hollinger |first1=Peggy |last2=Georgiadis |first2=Philip }}</ref>