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Fortune
Fortune
Steve Mollman

Richard Branson called Hyperloop One ‘ridiculously exciting’ five years ago. Now it’s shutting down

(Credit: Tom Dulat/Getty Images for CNBC)

When Richard Branson threw his weight behind Hyperloop One in 2017, the world took notice. The billionaire’s Virgin Group invested in the transportation startup, which promised to zip passengers and cargo between cities at aviation speeds through tubes. Later, Branson even became chairman of Virgin Hyperloop, as it was rebranded for a time.

"The reason I became chairman of this company, I found this ridiculously exciting," Branson told CNBC in 2018. "I think if we can build Virgin Hyperloops in a number of different countries, connecting countries, that will bring the world much closer."

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