Billionaire Branson Sits Out Virgin Orbit’s Costly Flameout
- Launch provider is seeking capital as billionaire stays quiet
- Stock suffers steepest drop ever, closing Monday down 33%
Richard Branson
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Richard Branson was long a force to be reckoned with in the booming private space business.
The British serial entrepreneur beat fellow billionaire Jeff Bezos to the first cosmic tourist trip with his Virgin Galactic venture. Branson’s second space foray, Virgin Orbit, strapped rockets under the wing of a jumbo jet to launch satellites on their flight path, complete with mission monikers like “Start Me Up” that reflect his distinctive blend of business and bravado.