Over $182million Lost by Billionaire, Richard Branson, in Two Days as He Chills in Space
- Virgin Atlantic boss, Richard Branson, left for space three days days, and his fortune is already dwindling here on earth
- The company's stock depreciated on Tuesday, affecting the wealth of the British billionaire which now stands at $5.2 billion
- The Virgin Galactic founder lost $182 million during the day after the capital market closed with Atlantic stock down
The wealth of Richard Branson, the founder of Virgin Atlantic, dwindled on Tuesday two days after he travelled out of earth to visit space as the first billionaire to do so.
Branson's fortune declined by 3.38% after trading ended on his company's stock at the New York Stock Exchange. Some shareholders had sold their stakes.
The British billionaire lost a staggering $182 million in one day, with his total net worth settling at $5.2 billion as at July 13, 2021, according to Forbes.
Source: Facebook
What caused the fall of Branson's wealth
This is after the company and Branson had gained from the space travel which created a surge in their investment on Monday, enabling its stock to open at $40.34 per share on Tuesday, but closed at $36.51.
The decline in share price sink Branson's wealth as he roams around space. This shows investors are not easily convinced that the new achievement by the company's subsidiary, Virgin Galactic, used to visit space, will have a long run positive impact on the stock.
Jeff Bezos told to remain in space
In related news, Legit.ng had previously reported that Amazon founder, Jeff Bezos, has been told to remain in space if he eventually travels.
Bezos is planning to leave earth on July 20, 2021, nine days after Branson left for space. The richest person on earth will be going with his brother and an anonymous person.
Since Bezos made his intention known last month, a petition has been drafted against his return to earth, and over 150,000 people have signed.
Source: Legit.ng
