‘Sad’ billionaire Richard Branson says there was ‘nothing he could do’ to stop Alaska Airlines from buying Virgin America because he’s British… but he’ll pocket a cool $786 million in the deal
- The head of Virgin Group said that he felt ‘sadness’ after Virgin America was bought by Alaska Airlines under a $2.6 billion deal (£1.8 billion)
- The $786 (£550 million) million payout is equivalent to one seventh of Sir Richard’s entire $5.1 billion (£3.7 billion) fortune
- The takeover means that in just 18 months Sir Richard’s stake has more than doubled in value
Sir Richard Branson has complained about having to sell his US airline – even though it will make him more than $786 million (£550 million).
The head of Virgin Group said that he felt ‘sadness’ after Virgin America was bought by Alaska Airlines under a $2.6 billion deal (£1.8 billion).
The companies put the transaction’s value at about $4 billion, since Alaska will also be taking on Virgin America’s debt and aircraft operating leases.
Billionaire Richard Branson ‘feels sadness’ over selling his airline https://t.co/qUCKBSg8DS pic.twitter.com/et9bGsO7aJ
— Will Corry (@slievemore) April 5, 2016
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