Rich $$ Branson, Biz Hero #5A

from Biography.com 11/12 enhanced by Peter/CXO Wiz4.biz

Overview. Born July 18, 1950, in Surrey, England, Richard Charles Nicholas Branson struggled in school and dropped out at age 16, a decision that ultimately lead to the creation of Virgin Records. His entrepreneurial projects started in the music industry and expanded into other sectors making Branson a billionaire. His Virgin Group now holds more than 200 companies, including the recent Virgin Galactic, a space tourism company. Branson is also known for his adventurous spirit and sporting achievements such as crossing oceans in a hot-air-balloon.

Early Life: Born Richard Charles Nicholas Branson on July 18, 1950 in Surrey, England. His father, Edward, was as a Barrister (high-level Lawyer). His mother, Eve, was employed as a Flight Attendant. Richard struggled with Dyslexia (a learning disability that impairs comprehension accuracy in being able to read and manifests in difficulty with hearing, writing & short-term memory.

Schooling: Because of his Dyslexia, he had a hard time with school. He nearly failed out of the all-boys Scaitcliffe School, which he attended until the age of 13. He then transferred to a boarding Stowe School. Still struggling, Branson dropped out at the age of 16 to start a youth-culture magazine called Student. The publication, run by students, for students, sold $8,000 worth of advertising in its first edition, which was launched in 1966. The first run of 50,000 copies was disseminated for free, after Branson covered the costs with advertising.

Music Business: By 1969, Branson was living in a London commune, surrounded by the British music and drug scene. It was during this time that Branson had the idea to begin a mail-order record company called Virgin to help fund his magazine efforts. The company performed modestly, but made Branson enough, that he was able to expand his business venture, adding a record shop in Oxford Street, London. With the success of the record shop, the high school drop-out was able to build a recording studio in 1972 in Oxfordshire, England.

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