Hyperdrive
Billionaire Richard Branson’s Space Empire Teeters as Virgin Orbit Flops
- Entrepreneur is a face of the industry alongside Bezos, Musk
- Launch company filed for bankruptcy following cash shortage
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Billionaire Richard Branson’s space empire is getting a bruising reality check.
Virgin Orbit Holdings Inc., the satellite-launch firm that only a few months ago was poised to play a major role in Britain’s space program, filed for bankruptcy Tuesday after cash dried up. That dragged down the stock of Branson’s other space company, Virgin Galactic Holdings Inc., whose shares hit the lowest level this year.