Richard Branson Reshapes Fortune with SPACs as Investors Torched

Richard Branson made a fortune selling records. But one of Wall Street’s hottest pandemic plays is driving the billionaire’s wealth now, even as his and many other blank-check firms are slumping, Bloomberg reports

The Virgin Group founder has been a serial user of US special purpose acquisition companies, employing them to rapidly turn parts of his business empire into listed entities as well as to acquire stakes in companies such as Anne Wojcicki’s DNA-testing firm 23andMe Holding Co. Read more.

Total
0
Shares
Related Posts
SEC
Read More

What the SEC Is Not Saying About SPACs: Report

The SEC is making decisions and issuing guidance about SPACs that may be based on misconceptions, Bloomberg Law reports, citing Daniele D’Alvia, CEO of SPACs Consultancy in London, and Milos Vulanovic, associate professor at EDHEC Business School in France. They question why the SEC is not issuing new improvements for traditional IPOs.