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.
