Branson revealed the loss of its business after the British referendum

Billionaire Richard Branson

Capitalisation of founded by Richard Branson’s business Empire, Virgin Group decreased by a third since June 24, when the results of a referendum on British exit from the EU, said the businessman in the program Good Morning Britain on ITV. “We are not worse than others, but I believe we lost a third of our value that is terrible for those who have works,” he said.

Branson added that he was going to conclude a large transaction that involved 3 thousand jobs, but was forced to cancel. “This is happening all over the country,” he said, noting that, in his opinion, people had no idea what result can be the outcome of the referendum.

During the Thursday vote 51,9% of the participants expressed the Kingdom’s exit from the EU. After the publication of the results of the referendum, the British pound has fallen by 11% to a 30-year low. Stock and currency markets also reacted to news of a sharp decline.

Shares of some banks fell by 50%, and losses in the global stock markets amounted to “two trillion,” said Branson, without specifying the currency. The billionaire warned that in the UK there will be a recession, if the world will not be sent a signal that the country is going to react to the outcome of the referendum.

The businessman urged the British Parliament to carefully assess the voting results, which is not legally binding, saying that perhaps the only way out is the repeated holding of a referendum.

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Britain voted to exit EU



June 23 in the UK held a referendum in which the people of the country decide whether the country to remain part of the European Union. Despite the fact that the latest polls before the vote…

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Virgin Group includes over 400 companies. At the end of 2014, the market capitalization of the group, according to the Financial Times, was estimated at £5-5. 5 bn (us$6.7-7.4 billion). The Guardian reported that the value of the shares of the company Virgin Money, in which the company owns 34%, fell after a referendum by 40%.

Branson also warned of the deterioration of the business climate in the UK after a vote that has already begun to hurt the economy. He told The Guardian that his friends Chinese businessmen, who are actively investing in the UK are going to stop investing and withdraw the investments already made.

According to the newspaper, the losses suffered and billionaire Peter Hargraves, who supported the country’s withdrawal from the EU and donated campaign Leave.EU £3.2 million of Hargraves owns a 30% stake in founded financial services company Hargreaves Lansdown, which after the referendum fell by 24%. As a result, the value of this share, which was estimated at £2 billion ($2.67 billion), fell by £400 million ($533 million), according to The Guardian.

According to Forbes, 595 Hargraves takes place in a world rating of billionaires and 18-th place among the richest Britons. According to the publication, he owned assets of $2.8 billion.

The status of Richard Branson, according to Forbes on 28 June, is estimated at $5 billion It takes in a world rating of billionaires 305-th and 8-th position in the British.