The company is now worth $750 billion and is swiftly approaching a valuation of $1 trillion, according to CNN Money.
Richard Branson serves as another great example of an entrepreneur who started a business with little cash to start.
The self-made billionaire began his first foray into business with the launch of a student magazine. He recalls having about £300, no employees and working out of a telephone box at the start, according to a Virgin blog post.
His magazine covered pop culture and music and became a success after he persuaded Mick Jagger to give him an interview. From there, the entrepreneur continued his business in the music scene by founding a mail-order record company. A year later, he opened a shop in London called Virgin Records.
Branson now owns over 60 companies that bear the Virgin name, resulting in his current net worth of $5.1 billion dollars, according to Forbes.
The entrepreneur admits that starting a business is tough. “Most people who set off in business without financial backing fail at some time in their lives,” Branson tells Big Think. “I’ve only just stayed at the right side of that dividing line.”
Yet the billionaire still urges people to take a chance. In an interview with Fortune, Branson gives this advice to burgeoning entrepreneurs: “I’m a great believer in just getting out there and trying,” he says. “Screw it, just do it.”
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See also:
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