It became known that the founder of the aerospace company Virgin Galactic Richard Branson (Richard Branson) again sold part of his shares in the company to keep it afloat. The sale of 15.6 million shares of Virgin Galactic is reported, which is approximately 6% of the company's total securities. After the sale, the British retained about 11.9% of the shares of the aerospace company.
According to reports, the proceeds from the sale of $ 300 million will be spent on maintaining Virgin Galactic, as well as on the development of new and existing Branson businesses. At the moment, the 71-year-old billionaire remains the largest shareholder in the company and has a stake in the amount of about $ 600 million.
Richard Branson created the Virgin brand in 1970 when he was in the retail business, mailing out purchases to customers. Since then, the brand has become associated with more than 40 companies around the world, ranging from the soft drink manufacturer to the British bank Virgin Money UK. In 2021, Virgin Galactic shares lost about 20% in value, mainly due to delays in the start of regular tourist flights into space. However, since the company went public in 2019, its stock is up more than 60%.
Since the onset of the coronavirus crisis, Branson has reportedly sold over $ 1 billion in Virgin Galactic shares in August and sold $ 150 million in shares four months earlier. In the first half of 2020, Branson also sold about $ 300 million in securities.
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