How Much Richard Branson Makes From Virgin Media’s Purchase

Liberty Global‘s (NASDAQ:LBTYA) purchase of Virgin Media (NASDAQ:VMEDwill 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.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC