Richard Branson Splits Up $1.7 Billion Stake in Virgin Galactic

Richard Branson has broken out assets of the firm that held his stake in Virgin Galactic Holdings Inc., giving the British billionaire greater control of his most valuable listed holding.

Shares in the space-travel company worth about $1.7 billion were distributed to a firm Branson controls and to Aabar Space, an Abu Dhabi investment company, according to a regulatory filing. Branson previously held his stake in Virgin Galactic through a company called Vieco 10, with his Virgin Group controlling 81% of the firm and the balance held by Aabar Space.