by Christopher Freeburn | February 6, 2013 11:53 am
[1]Liberty Global‘s (NASDAQ:LBTYA[2]) purchase of Virgin Media (NASDAQ:VMED[3]) will add about $316 million[4] 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[5]. Including debt, the transaction has a total value of $23.3 billion.
In December, Delta Air Lines (NYSE:DAL[6]) paid $360 million for a 49% stake in Branson’s Virgin Atlantic airline[7].
Source URL: https://investorplace.com/2013/02/how-much-richard-branson-makes-from-virgin-medias-purchase/
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