james bond
Gold Member
- Oct 17, 2015
- 13,407
- 1,802
- 170
This guy needs to wallow in his filth and go bankrupt.
"As Forbes pointed out at the time, Mr Fuller’s estimation of Branson’s net worth assumes the £3.8 billion is a cash asset that can gain interest sitting in a bank account. Branson’s net worth is compiled from a network of public and private investments. His current cash pile sits at £520 million ($600 million).
Branson responded to this in his letter: “I’ve seen lots of comments about my net worth–but that is calculated on the value of Virgin businesses around the world before this crisis, not sitting as cash in a bank account ready to withdraw. Over the years significant profits have never been taken out of the Virgin Group, instead they have been reinvested in building businesses that create value and opportunities. The challenge right now is that there is no money coming in and lots going out.”
Last month, Branson moved to protect the futures of his 70,000 employees announcing a $250 million rescue package. A spokesperson for Branson confirmed that the $250 million would come from “Richard and Virgin group” and would not be paid by Virgin Atlantic."
...
"Tax Trouble
On claims that Branson does not pay U.K. income and capital gains tax on his investment success, Branson uses the letter to address, “comments about my home.” Adding, “Joan and I did not leave Britain for tax reasons but for our love of the beautiful British Virgin Islands and in particular Necker Island, which I bought when I was 29 years old, as an uninhabited island on the edges of the BVI. "
...
"Government Money
Branson also gives the clearest indication yet that Virgin Atlantic desperately needs government money to survive this pandemic warning that “hundreds of thousands more jobs will be lost” across the sector.
He adds, “we will do everything we can to keep the airline going–but we will need government support to achieve that in the face of the severe uncertainty surrounding travel today and not knowing how long the planes will be grounded for."
www.forbes.com
Hands up. This is a stickup!
"As Forbes pointed out at the time, Mr Fuller’s estimation of Branson’s net worth assumes the £3.8 billion is a cash asset that can gain interest sitting in a bank account. Branson’s net worth is compiled from a network of public and private investments. His current cash pile sits at £520 million ($600 million).
Branson responded to this in his letter: “I’ve seen lots of comments about my net worth–but that is calculated on the value of Virgin businesses around the world before this crisis, not sitting as cash in a bank account ready to withdraw. Over the years significant profits have never been taken out of the Virgin Group, instead they have been reinvested in building businesses that create value and opportunities. The challenge right now is that there is no money coming in and lots going out.”
Last month, Branson moved to protect the futures of his 70,000 employees announcing a $250 million rescue package. A spokesperson for Branson confirmed that the $250 million would come from “Richard and Virgin group” and would not be paid by Virgin Atlantic."
...
"Tax Trouble
On claims that Branson does not pay U.K. income and capital gains tax on his investment success, Branson uses the letter to address, “comments about my home.” Adding, “Joan and I did not leave Britain for tax reasons but for our love of the beautiful British Virgin Islands and in particular Necker Island, which I bought when I was 29 years old, as an uninhabited island on the edges of the BVI. "
...
"Government Money
Branson also gives the clearest indication yet that Virgin Atlantic desperately needs government money to survive this pandemic warning that “hundreds of thousands more jobs will be lost” across the sector.
He adds, “we will do everything we can to keep the airline going–but we will need government support to achieve that in the face of the severe uncertainty surrounding travel today and not knowing how long the planes will be grounded for."
Billionaire Branson Asks For Government Money To Save Virgin Atlantic, Claims He âDid Not Leave Britain For Tax Reasonsâ
In an open letter to “the Virgin family” Branson thanks his 70,000 staff and addresses “comments” on his “net worth” and the need for government money to support the businesses they work for.
www.forbes.com
Hands up. This is a stickup!
