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The Shy Billionaire In Space

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Space is virgin territory, yet, for Sir Richard Branson.

But even that, he appears set to conquer commercially with his company Virgin Galactic this year.

One of the greatest business minds on earth, Branson is in the space race.

In a CNN interview mid-February, commenting on South African billionaire Elon Musk’s recent SpaceX test-launch of the Falcon Heavy rocket, Branson said: “I was a little bit jealous,” and called Musk’s feat “extraordinary”.

The British tycoon, known for his profound love for adventure and sport, admitted in the interview that Virgin Galactic is hoping to put people in space in the coming months.

He also hints about it on his blog: “The team are working tirelessly, and each flight brings us one step closer to commercial service in New Mexico’s Spaceport America.”

“One of our biggest investments has been the space companies, which we have already invested $1 billion to set up,” he says in FORBES’ 100th anniversary issue in 2017.

And should Branson – worth $5 billion according to FORBES – be one of the first space tourists to look down on earth, he would no doubt marvel at the continent he often visits – Africa.

In his new autobiography, Finding My Virginity, launched last year, you find multiple mentions of Africa, and memories and images of the people and places he keeps returning to on the continent.

Nelson Mandela, Archbishop Desmond Tutu, Graça Machel… are revered in these pages.

Branson tells FORBES AFRICA, in an exclusive interview in November last year when in Johannesburg for Virgin Atlantic’s ‘Business is an Adventure’ event, that “almost since the day Nelson Mandela left prison, I got very involved in Africa”.

READ MORE: Lessons And Ideas By The 100 Greatest Living Business Minds

Almost three decades on, he continues to be.

On the continent, Virgin’s biggest presence is in South Africa.

Worldwide, Branson owes his fortune to diverse businesses bearing the Virgin name. The son of a barrister and flight attendant, he started almost 50 years ago with a mail-order record business. He was a school drop-out, but never looked back.

He founded the Virgin Group, which now has interests in mobile telephony, financial services, travel, hospitality, holidays and health, among others.

He created his music label Virgin Records in 1972, signing on artistes such as Mike Oldfield, Janet Jackson, The Rolling Stones and the Spice Girls.

A disruptor in the aviation industry, Branson started Virgin Atlantic in 1984, and the airline has been flying between London Heathrow and South Africa for the last 21 years, and Nigeria for over 16 years.

Richard Branson (Photo by Kelly Sullivan/Getty Images)

In his new book, he says he is often asked the question: “How do you go about becoming a millionaire?” And his answer has been the same: “Start as a billionaire and launch a new airline.” He recounts the first 15 years of Virgin Atlantic as “a topsy-turvy tale of excitement, innovation and survival”.

Branson famously lives on Necker Island, a British Virgin Islands retreat, which, according to FORBES, he bought for $180,000 in 1978. Tutu has been a visitor: there is an endearing 2006 image of Branson planting a kiss on him with the azure sea in the background.

Far from Necker, at the ‘Business is an Adventure’ event in South Africa in November, Branson, the man who never wears ties, is in a pale blue shirt and khaki chinos. He enters, waving his hands in the air simulating the wings of an aeroplane. And on stage, much to the audience’s delight, rips off fellow panelist and Discovery Group CEO Adrian Gore’s tie, saying: “I believe the workplace should be comfortable, it should be relaxing.”

He recounts his entrepreneurial experiences, and pulls out a little black book to note down everything he learns from the people he meets.

“A notebook you can refer back to, especially if people share pearls of wisdom,” he quips.

And he has found enough wisdom in Africa.

Along with British pop musician Peter Gabriel, Branson was instrumental in starting The Elders, formally launched by Mandela in Johannesburg in 2007. An independent group of global leaders working together for peace and human rights, it also includes stalwarts Tutu, Kofi Annan and Ban Ki-moon.

In 2005, the billionaire also started the Branson Centre of Entrepreneurship in South Africa to “address a critical need for entrepreneurs, at a time when there were few organizations offering free, practical business training and mentoring to start-up businesses”.

The physical center in Johannesburg is now closed as they “review their entrepreneur support strategy”, but has over 12 years supported more than 4,300 entrepreneurs.

READ MORE: The Man Pouring Millions Into A Rich Slice Of Africa

Tracey Webster, who headed the Branson Centre of Entrepreneurship in Johannesburg for almost three years from 2011, vividly recalls her interactions with Branson.

“He is shy and unbelievably humble,” she says. “He is smart about getting everyone else to do the talking – he’s so charming and gracious about giving others the platform; he just has a way in which he promotes people on the ground.”

Webster, who is currently CEO of Enterpriseroom in South Africa, says the most important leadership lesson she received from Branson was “to respect absolutely every single human you came in contact with”.

“He taught me to be a listener rather than a talker,” says Webster, of the shy, introverted man millions look up to.

Richard Branson Archbishop Desmond Tutu The Elders

Richard Branson with Archbishop Desmond Tutu (Picture courtesy of The Elders)

‘Africans Are Natural Entrepreneurs’

In our interview with Sir Richard Branson, we let him do the talking, about his new ventures in Africa, his work for the communities around his businesses, his take on wildlife, and that moment he almost fell off the stage in South Africa.

You have a special affinity for Africa. Why, and what is on the cards for you on the continent?

Almost since the day Nelson Mandela left prison, I got very involved in Africa and one of the first things we did was put up a statue to [South Africa’s anti-apartheid activist] Steve Biko in East London [in South Africa’s Eastern Cape]. That was an incredible event with Nelson Mandela presiding over it. I have told quite a few of these stories in my latest book.

I have done quite a few things with Mandela, and Desmond Tutu, and Graça Michael and Kofi Annan, for things like The Elders and so on.

We are building a mobile phone company or financial services company, [then there’s] Virgin Active, Virgin Insurance…

But I suppose the thing I love the most is the bush. I spend a few days in Ulusaba [the reserve Branson owns], which was voted the best game lodge in Africa last year. And we love working on protecting species and wildlife. We also draw circles around any of our properties and try to help the communities within those circles, so quite a lot of our time and energy is spent on [work], for example, near Ulusaba, we set up quite a big clinic to make sure the people got anti-retroviral drugs, malaria tablets and TB tablets and were helped in other ways. We set up orphanages and small schools and so on.

Around our Virgin Active health clubs, we are doing similar things. Not for companies to draw circles around themselves, but to help the communities within those circles. Hopefully, one day all the circles will join up and most of the problems will be solved.

Richard Branson Nelson Mandela The Elders

Richard Branson with Nelson Mandela on the creation of The Elders (Picture courtesy of The Elders)

Your most abiding memory of Mandela?

I was at his funeral and invited by the family to join them by the graveyard. The coffin had been put in. And then I saw one of his grandsons falling into the hole and I thought ‘why is everybody not reacting, everybody just looks very calm about it’ and I saw another grandson jump down in and I assumed he was going to rescue the first one and then another grandson jumped in and I had to turn to somebody on my left and ask, ‘are they okay’ and he said ‘oh, they are just putting personalized gifts on the coffin to send Madiba on his way’. Anyway, I felt pretty foolish after that.

When we did the original Steve Biko statue in East London, there was just myself and Peter Gabriel there who weren’t local. There must have been a 100,000 people in the crowd and Madiba was standing on a small stage with the other main African leaders. He was president at the time, and he made this incredible and impassionate speech trying to unite the country and all the people on stage. The politician in him was coming out as well as the philanthropist he had become and when he finished, I went up on stage and whispered to him and he then gestured Peter forward who then took the microphone from Mandela and sang the song Biko with all the 100,000 in the audience singing along with him. It was the most wonderful moment. And then the crowd rushed to the stage and the whole stage started collapsing and we only just got Mandela and everybody off just in time before the whole thing collapsed.

After all your visits here, what are your lessons for Africa’s youth?

Because of the Branson School of Entrepreneurship, I got to know lots of wonderful young people over the years, and I think Africans are natural entrepreneurs and need help and need encouragement. This morning [November 10], I was at this wonderful center, the GEN 22 On Sloane [a start-up campus in Johannesburg], where they are going to have a few hundred entrepreneurs working there and in fact, [we] may end up doing something there as well.

We spend a lot of time encouraging entrepreneurship in the UK as well and managed to encourage the government to start something – start-up loans – which is loans to help budding businesspeople. Britain is the only country doing it. And what we are trying to do is to encourage Africa to do the same thing… The other thing the government could do is to get out of business completely themselves, as best they can, and break up any businesses the government is doing into small units and get entrepreneurs to run them. And I think governments have got to encourage competition… and the most important role governments can play is break up monopolies in order to enable thousands and thousands of new jobs to be created by new businesses being started.

The fourth industrial revolution, AI, robotics… where do you see Africa headed? Do you have any investments in these sectors?

One area of AI that we are working with in Africa is with a wonderful foundation and they are trying to get 50,000 women in African villages to have an iPad each; they are not trained as doctors or fully-trained as nurses, but using that iPad, through the fact that thousands and thousands of women have used this iPad and every time they make an answer, it gets better and better and better, they can actually act almost as good as a doctor or a nurse by just asking questions and getting answers and then prescribing malaria tablets, or TB tablets, and even anti-retroviral drugs and so on. Obviously, with serious cases, they’ll refer them to a surgeon or doctor, but again, the tablet will show that. So that actually will create 50,000 jobs and definitely save a lot of lives.

If it works, it will cost about a dollar a person, for a pretty good health service. And that should be happening, they have already trained up to 7,000 and the idea is to go up to 50,000.

You own a wine estate in Cape Town, is that something you see your future in?

Well, we need to be able to party as well and relax after all the hard work. We found Mont Rochelle and fell in love with it three or four years ago and felt we could turn it into one of the best vineyards in Africa. I think the team have done a great job and of course a lot of people who get to the bush want to come down to the Cape as well, so it’s nice they can stay in the Virgin family.

You started your entrepreneurial journey at the age of 16, any advice for innovators that young?

One of my books is called Screw It, Let’s Do It and I would just say follow that philosophy and give it a go. If you fall flat on your face, beat yourself up and do it again until you succeed.

READ MORE: FORBES’ Profile On Richard Branson

Richard Branson Adrian Gore

Richard Branson on stage with Discovery CEO Adrian Gore at the Business is an Adventure event in Johannesburg in 2017 (Picture supplied)

Branson’s Ventures in sub-Saharan Africa

  • The Virgin Group operates 140 Virgin Active health clubs across southern Africa. More recently, it opened its first club in Botswana and a second in Namibia, a strong indication of the growth potential that exists in Africa for the group.
  • Virgin Active’s presence in South Africa came about following a request by Nelson Mandela to Richard Branson, asking him to help save the country’s Health & Racquet Club chain, which was about to collapse. This resulted in Virgin acquiring the 76 Health & Racquet Clubs in South Africa.
  • In South Africa’s Western Cape province, in the wine town of Franschhoek, Branson owns Mont Rochelle, a luxe hotel and vineyard an hour’s drive from Cape Town.
  • Mahali Mzuri is Branson’s safari lodge in Kenya, positioned within the Maasai Mara ecosystem.
  • The Virgin Limited Edition’s Ulusaba private game reserve in South Africa supports the local communities through a not-for-profit called Pride ’n Purpose, focusing on sustainable development initiatives and improving access to food, water and health services.
  • Elsewhere in Africa, projects include an investment in M-Kopa, focused on solar power in East Africa and primarily Kenya, helping families gain access to energy using solar technology at affordable prices.
  • In the financial services sector,Virgin Money has just launched a peer-to-peer payment service called Virgin Money Spot. The app allows customers to send money to friends in a simple, safe and social way.
  • The Virgin Group has recently invested in South African mobile software firm wiGroup.
  • Virgin has initiatives called Living Goods and Last Mile Health, aiming to have just under 50,000 digitally empowered community health workers across sub-Saharan Africa by the end of 2021, reaching a total of 34.3 million people. This will be through a mixture of digital devices, including iPads.

Billionaires

Tesla Vehicles Could Soon Become Completely Autonomous As Self-Driving Tech ‘Very Close’, Elon Musk Says

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Tesla vehicles could soon be completely autonomous as CEO Elon Musk said the electric vehicle firm is “very close” to achieving level 5 autonomous driving technology, during a virtual appearance at the World Artificial Intelligence Conference in Shanghai.

KEY FACTS

  • “I’m extremely confident that level 5 or essentially complete autonomy will happen and I think will happen very quickly,” Musk said.
  • He added that he is confident “basic functionality” for level 5 complete autonomy will be achieved this year.
  • The technology will allow vehicles to drive on roads without driver input.
  • Tesla, the world’s highest-valued carmaker after overtaking Toyota last week, already operates an Autopilot system that uses external cameras, radars and sensors, but it is driver assisted and does not make the vehicle autonomous.

KEY BACKGROUND

Tech firms, including Uber and Alphabet-owned Waymo, have pumped billions into developing self-driving cars, a futuristic idea that many had predicted would be ready by this year. But limitations around AI have stalled development of the technology. Last month, Waymo and Volvo announced they were teaming up to develop driverless cars for ride-hailing use.

TANGENT

In February, the National Transportation Safety Board found Tesla’s autopilot driver assistance was likely to blame for a fatal 2018 crash in California, leading to the board calling for more regulation of the technology, and for the company to better educate drivers on its limitations.

ADDITIONAL INFO

The road to completely autonomous driving has five levels: Level 0 describes no automation i.e. everyday cars. Level 1 represents features such as adaptive cruise control, while level 2 describes partial automation features that control speed and steering, such as those seen in Tesla vehicles. Level 3 and 4 represent limited driverless capabilities. Level 5 is the point at which a driverless vehicle can navigate all road conditions without human input, according to True Car.

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Elon Musk, Kim Kardashian Endorse Kanye West Running For President

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After years of hints, Kanye West formally announced he is running for president this year in a challenge to Trump, who he once supported, and Democratic rival Joe Biden, winning support from his friend and Tesla CEO Elon Musk.

KEY FACTS

  • Rounding off his Fourth of July, West tweeted on Saturday night: “We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States! #2020VISION.”
  • Musk tweeted in response: “You have my full support!”
  • Wife Kim Kardashian also publicly pledged her support, retweeting West’s statement and adding a U.S. flag emoji.
  • West’s announcement follows years of hints that he would run for office this year which he later postponed to 2024, after publicly declaring at a Fast Company event in 2019: “When I run for president in 2024…We would create so many jobs! I’m not going to run, I’m going to walk.”
  • But the rapper, who recently inked a 10-year deal with Gap through his Yeezy brand, is reportedly yet to file any paperwork to get on state election ballots, while he has missed the deadline for states including Texas, New York, and Indiana.
  • It is not known how serious West’s intentions are this time around, however, he still has time to file as an independent candidate across most states, according to Ballotpedia.
  • West’s declaration was met with skepticism on social media, while some commentators pointed out that it could work out in Trump’s favour.

KEY BACKGROUND

West’s declaration suggests the rapper is looking to cement political ambitions he has expressed throughout Trump’s presidency. West previously forged alliances with Trump, and was pictured in the Oval Office in 2018 wearing a signature Trump ‘Make America Great Again’ cap. He once called the president his “brother” and previously hit back at criticism towards his support for Trump, likening the backlash to racial discrimination. Although he says he didn’t vote in 2016, West later said he “would have voted for Trump”, and earlier this year doubled down, suggesting he would vote for him in November. But that could very well change given Saturday’s announcement.

American rapper and producer Kanye West embraces real estate developer and US President Donald Trump in the White House’s Oval Office, Washington DC, October 11, 2018. West wears a red baseball cap that reads ‘Make America Great Again,’ Trump’s campaign slogan. (Photo by Ron Sachs/Consolidated News Pictures/Getty Images)

TANGENT

West and Musk were pictured together on July 1st, with West tweeting: “When you go to your boys [sic] house and you’re both wearing orange.”

Isabel Togoh, Forbes Staff, Business

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Billionaires

Quote Of The Day

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We have grown past the stage of fairy-tale. As women, we have one common front and that is to succeed. We have to take the bull by the horn and make the change happen by ourselves.

– Folorunso Alakija, Billionaire Businesswoman

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