Fabrib
Forumer storico
Billionaire Richard Branson is pleading for government support for his airlines, and has offered up his private island in the Caribbean as collateral on loans.
Branson, who has an estimated net worth of $5.86 billion, according to Bloomberg News, said he doesn’t have the necessary cash on hand to bail out his airlines himself, saying his wealth “is calculated on the value of Virgin businesses around the world before this crisis, not sitting as cash in a bank account ready to withdraw.” He said Virgin has already committed $250 million to shore up its businesses amid the pandemic, and he has been allocating cash from the Virgin Group and his personal wealth to try to preserve as many jobs as possible.
Branson, who has an estimated net worth of $5.86 billion, according to Bloomberg News, said he doesn’t have the necessary cash on hand to bail out his airlines himself, saying his wealth “is calculated on the value of Virgin businesses around the world before this crisis, not sitting as cash in a bank account ready to withdraw.” He said Virgin has already committed $250 million to shore up its businesses amid the pandemic, and he has been allocating cash from the Virgin Group and his personal wealth to try to preserve as many jobs as possible.