Branson Weighs Selling More Virgin Galactic Shares to Aid Empire
This article is for subscribers only.
Richard Branson is considering selling another chunk of his stake in Virgin Galactic Holdings Inc., a move that could provide about $200 million to support his broader Virgin business empire.
Holding company Vieco 10 may sell as many as 12.5 million shares in the space-travel firm, according to a regulatory filing Tuesday. Branson’s Virgin Group is the majority owner of Vieco 10, with the balance held by Aabar Space, an Abu Dhabi investment company. The British billionaire’s Virgin Galactic stake is worth around $1 billion, his biggest holding in a listed business. He sold 25 million shares last month worth more than $300 million.