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Billionaire Branson Sells $300 Million Stake in Virgin Galactic

  • He’s offloaded more than $1 billion since virus crisis began
  • Proceeds will help support travel and leisure businesses
Richard Branson
Richard BransonPhotographer: Michael Nagle/Bloomberg

Richard Branson sold another $300 million in Virgin Galactic Holdings Inc. stock, tapping his biggest listed asset again to prop up a business empire that’s been suffering during the coronavirus pandemic.

The billionaire offloaded 15.6 million shares -- about 6% of the space-travel company -- through a company he controls, leaving him with an 11.9% interest, according to a regulatory filing.