Branson loses more than $1-billion as Virgin Galactic plummets

Hanno Labuschagne

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Branson loses more than $1-billion as Virgin Galactic plummets

Wearing a black suit and harness, Richard Branson once leaped from the roof of a Las Vegas casino to launch one of his ventures.

His fortune headed in the same direction this week.

The value of the British billionaire’s stake in Virgin Galactic Holdings Inc. has fallen about $1.1 billion since the company reported widening losses in the fourth quarter from a year earlier. The firm’s shares tumbled 24% to close at $21.97 in New York and have plunged 35% since Tuesday.

[Bloomberg]
 

whatwhat

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People invested in ZAR equities experienced the same nose dive in value this month.
 
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