They are visionaries 6 chapter 3 about richard

 They are visionaries.
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Chapter 3: About Richard Branson
3.1 Synopsis
Born on July 18, 1950, in Surrey, England, Richard Branson struggled in school and dropped out
at age 16—a decision that ultimately lead to the creation of Virgin Records. His entrepreneurial
projects started in the music industry and expanded into other sectors making Branson a
billionaire. His Virgin Group holds more than 200 companies, including the recent Virgin
Galactic, a space-tourism company. Branson is also known for his adventurous spirit and
sporting achievements, including crossing oceans in a hot air balloon.
3.2 Early Life
Richard Charles Nicholas Branson was born on July 18, 1950, in Surrey, England. His father,
Edward James Branson, worked as a barrister. His mother, Eve Branson, was employed as a
flight attendant. Richard, who struggled with dyslexia, had a hard time with educational
institutions. He nearly failed out of the all-boys Scaitcliffe School, which he attended until the
age of 13. He then transferred to Stowe School, a boarding school in Stowe, Buckinghamshire,
England.
Still struggling, Branson dropped out at the age of 16 to start a youth-culture magazine
called Student . The publication, run by students, for students, sold $8,000 worth of advertising in
its first edition, which was launched in 1966. The first run of 50,000 copies was disseminated for
free, after Branson covered the costs with advertising.
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By 1969, Branson was living in a London commune, surrounded by the British music and drug
scene. It was during this time that Branson had the idea to begin a mail-order record company
called Virgin to help fund his magazine efforts. The company performed modestly, but made
Branson enough that he was able to expand his business venture, adding a record shop in Oxford
Street, London. With the success of the record shop, the high school drop-out was able to build a
recording studio in 1972 in Oxfordshire, England.
3.3 Virgin Records
His first artist on the Virgin Records label, Mike Oldfield, recorded his single "Tubular Bells" in
1973 with the help of Branson's team. The song was an instant smash, staying on the UK charts
for 247 weeks. Using the momentum of Oldfield's success, Branson then signed other aspiring
musical groups to label, including the Sex Pistols. Artists such as the Culture Club, the Rolling
Stones, and Genesis would follow, helping to make Virgin Music one of the top six record
companies in the world.
3.4 Business Expansion
Branson expanded his entrepreneurial efforts yet again, this time to include the travel company
the Voyager Group in 1980, the airline Virgin Atlantic in 1984, and a series of Virgin Megastores.
But Branson's success was not always predictable. By 1992, Virgin was suddenly struggling to
stay financially afloat. The company was sold later that year to THORN EMI for $1 billion.
Branson was crushed by the loss, reportedly crying after the contract was signed, but remained
determined to stay in the music business. In 1993, he founded the station Virgin Radio, and
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several years later he started a second record company, V2. Founded in 1996, V2 now includes
artists such as Powder Finger and Tom Jones.