Richard Branson: Virgin Group Has Lost Third Of Its Value Since Brexit Vote
- 8 years ago
On Tuesday, Richard Branson, the founder of Virgin Group, announced that his company’s value has plummeted by about a third since the Brexit vote.
Last week, the United Kingdom voted to leave the European Union, sending the value of the pound into a downward spiral and financial markets into a tumult, notes Time.
Reuters is reporting that on Tuesday, Richard Branson, the founder of Virgin Group, announced on ‘Good Morning Britain’ that his company’s value has since plummeted by about a third.
He also noted Virgin Group’s situation is not unique.
Said Branson, "We are heading towards a disaster. I don't believe the public realized what a mess their vote would cost. This country is going to go into recession. Two of the worst days ever – banks have been pounded means they are not going to lend money, we're going to go into recession."
Branson is among those in support of a second referendum.
Last week, the United Kingdom voted to leave the European Union, sending the value of the pound into a downward spiral and financial markets into a tumult, notes Time.
Reuters is reporting that on Tuesday, Richard Branson, the founder of Virgin Group, announced on ‘Good Morning Britain’ that his company’s value has since plummeted by about a third.
He also noted Virgin Group’s situation is not unique.
Said Branson, "We are heading towards a disaster. I don't believe the public realized what a mess their vote would cost. This country is going to go into recession. Two of the worst days ever – banks have been pounded means they are not going to lend money, we're going to go into recession."
Branson is among those in support of a second referendum.