Richard Branson is free to sell up to half his stake in his space tourism venture — potentially raising close to $1bn — after a little-noticed filing by Virgin Galactic lifted constraints on investors.
The entrepreneur has come under fire for seeking state help for Virgin Group’s airlines businesses, which have been hammered by the Covid-19 pandemic.
But even as other parts of the empire have been paralysed, Virgin Galactic’s market value has almost doubled from $2.3bn at its initial public offering six months ago to more than $4.4bn, lifting the value of Virgin Group’s stake close to $2bn.
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