Richard Branson, the kite-surfing entrepreneur who built a fortune starting from a London record store, stands to reap $316 million from the buyout of U.K. cable operator Virgin Media Inc. by John Malone’s Liberty Global Inc.
Branson, who is worth more than $5 billion based on the Bloomberg Billionaires Index, owns 6.6 million Virgin Media shares through RBC Trusts and Virgin Entertainment Investment Holdings, according to data compiled by Bloomberg. Liberty Global agreed Wednesday to buy the company for $16 billion, paying a 24 percent premium to Virgin Media’s closing price on Feb. 4.
