Get all your news in one place.
100's of premium titles.
One app.
Start reading
Evening Standard
Evening Standard
Business
Simon Hunt

Richard Branson’s wealth drops $100 million after failed Virgin Orbit launch

Richard Branson Virgin Orbit New York Wall Street

Sir Richard Branson (Virgin Trains/PA)

(Picture: PA Media)

Sir Richard Branson has seen $106 million (£87 million) wiped from his wealth today after shares in his rocket venture tumbled, adding salt to the wound after the firm’s failed attempt at its first ever launch from UK soil last night.

New York-listed Virgin Orbit shares fell 21% in the opening minutes of trade on Wall Street, shaving $141 million from its market cap. Branson controls a 75% stake in the company, according to filings with the US securities regulator.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Does your sleep tracker get it right? A Pittsburgh neuroscientist weighs in
On a typical night, I go to bed wearing a tracking watch on one wrist and another type of tracker on the other wrist. Then I compare their sleep findings while I drink my morning coffee.
The Conversation
The Conversation
There's A Reason Taxi Cabs Are Almost Always Yellow
Yellow taxis are easy to spot in traffic, but the color's history goes far beyond simple visibility.
Motor1
Motor1
How ‘technoference’ can disrupt parent-child connections
Have you ever been telling someone a story when their phone lights up, and their eyes flicker toward their device?
The Conversation
The Conversation
Holding Lightning by Emily Lordi review – an intimate portrait of Whitney Houston
An empathetic biography of the the singer recasts her tumultuous later career as a triumph of self-expression
The Guardian - UK
The Guardian - UK
Brian May says Queen are retiring from live tours: ‘Maybe 50 years is enough’
Rock guitarist suggested creating an interactive experience for fans similar to the ‘Abba Voyage’ show
The Independent UK
The Independent UK
"Lanterns" finds its power in fear
To fulfill his destiny, John Stewart embraces what he was trained to reject — and so should we
Salon
Salon
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play