GLM is proud to present Sir Richard Branson with the GLM 2012 Entrepreneurship Award.
Born July 18, 1950, in Surrey, England, Sir Richard Charles Nicholas Branson struggled in school and dropped out at age 16, a decision that ultimately lead to the creation of Virgin Records. His entrepreneurial projects started in the music industry and expanded into other sectors making Branson a billionaire. His Virgin Group holds more than 200 companies, including the recent Virgin Galactic, a space tourism company. Branson is also known for his adventurous spirit and sporting achievements such as crossing oceans in a hot-air-balloon.
Branson has had his share of ups and downs, but has never let his surroundings dictate his level of success. A true believer in the statement life is what you make He nearly failed out of the all-boys Scaitcliffe School, which he attended until the age of 13. He then transferred to Stowe School, a boarding school in Stowe, Buckinghamshire, England. Still struggling, Branson dropped out at the age of 16 to start a youth-culture magazine called Student. The publication, run by students, for students, sold $8,000 worth of advertising in its first edition, which was launched in 1966. The first run of 50,000 copies was disseminated for free, after Branson covered the costs with advertising.
In 1969 Branson had the idea to begin a mail-order record company called Virgin to help fund his magazine efforts. The company performed modestly, but made Branson enough that he was able to expand his business venture, adding a record shop in Oxford Street, London. With the success of the record shop, the high school drop-out was able to build a recording studio in 1972 in Oxfordshire, England.
Branson expanded his entrepreneurial efforts yet again, this time to include the travel company the Voyager Group in 1980, the airline Virgin Atlantic in 1984, and a series of Virgin Megastores. In 1993, he founded the station Virgin Radio, and several years later he started a second record company, V2. Founded in 1996. He was knighted in 1999 for his contribution to entrepreneurship, and in 2009 he landed at No. 261 on Forbes’ World Billionaires list with his $2.5 billion in self-made fortune, which includes two private islands.
Branson’s Virgin Group now holds more than 200 companies in over 30 countries including the United Kingdom, the U.S., Australia, Canada, Asia, Europe and South Africa. He has expanded his businesses to include a train company, a luxury game preserve, a mobile phone company, and a space tourism company, Virgin Galactic.
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