by Christopher Freeburn | February 6, 2013 11:53 am
Liberty Global‘s (NASDAQ:LBTYA) purchase of Virgin Media (NASDAQ:VMED) will add about $316 million to British billionaire Richard Branson’s already considerable fortune.
Branson formed Virgin Media in 2006 through the combination of Virgin Mobile U.K., NTL and Telewest. He amassed a $5 billion fortune through a corporate empire launched from a London music shop, Bloomberg noted.
Virgin Media will be acquired for about $16 billion in cash and stock. Including debt, the transaction has a total value of $23.3 billion.
In December, Delta Air Lines (NYSE:DAL) paid $360 million for a 49% stake in Branson’s Virgin Atlantic airline.
Source URL: http://investorplace.com/2013/02/how-much-richard-branson-makes-from-virgin-medias-purchase/
Short URL: http://invstplc.com/1nvD1Zs
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.