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Branson Looks to Caribbean Island to Help Save Virgin Empire

  • Billionaire plans to use hideway to raise cash for businesses
  • U.K., Australia lukewarm to his pleas for government bailouts
Necker Island
Necker IslandPhotographer: Marka/Universal Images Group Editorial via Getty Images
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Necker Island has been Richard Branson’s personal fiefdom for 40 years. But as his Virgin-branded businesses are battered by the coronavirus crisis, the billionaire is turning to his Caribbean hideaway for cash.

Branson wrote to staff Monday saying he plans to “raise as much money against the island as possible” as the pandemic lays waste to industries where Virgin competes, including airlines, hotels and cruises.