Richard Branson has become one of the richest people in the world, with an estimated net worth of over $4.6 billion. This incredible wealth was mostly accumulated from the founding of Virgin Records, which eventually became the Virgin Group composed of over 400 companies.
To become so successful, a keen business mind is essential, and Richard Branson has that in spades. One of the best examples of this was the island he bought in 1970, which is also one of the most legendary business deals of all time!
When looking for an island to buy, Branson set his sights of Necker Island, which is part of the British Virgin Islands and was owned by Lord Cobham. Branson hadn’t yet made it to the billions and Cobham demanded a minimum of $5 million for the island, money which Branson was not willing to pay.
He made an offer of $100,000 and was pretty much completely ignored. He kept shopping around the Caribbean for an island, while slowly raising his bid on Necker Island to keep Lord Cobham’s attention. As luck would have it, Cobham was in desperate need for money, and accepted Branson’s offer of $180,000, which was over $4 million under the asking price! Today, the value has shot up exponentially and is worth over $200,000 million!