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Famous college drop-outs who became successful businessmen

by Trixze Smith

Created on: May 12, 2008

Richard Branson was born in England in 1950. His mother Eve, was involved with theater and aviation. His father was a judge for the High Court of Justice for the British version of the Supreme Court. (1) At a very young age of 16, Branson created his own publication, "Student Magazine." He also started a charity "to help young people." (2) At 20, he started the Virgin enterprise with a mail-order record shop. The idea was revolutionary for the time. It provided customers with "virgin" records that had not been played or handled by shoppers at a music store. It also changed "retail price maintenance" in England that controlled how low a retailer could set a price. (1)

The Virgin mail-order business grew to an actual store. Soon after, Branson became a founder of the record label, Virgin Records. He later went on to launch Virgin Air and dabble in other business endeavors. (2) However, it is his record label that gave him the role of a gatekeeper. His young perspective and energetic drive gave him a different outlook than his competitors. He took more risks, crossed more lines and opened more minds than other media moguls. (3)

It seems that the philosophy for Virgin is being young and having fun. Yet there is a sense of art and style. As a gatekeeper, Richard Branson has been a maverick. He is an innovator. His choices are edgy. He brings a sense of balance to the conservative flavor in media. Gatekeepers like Branson seem to be litmus tests. They take risks and when those risks succeed, they set the pace for the rest of the industry. They create what is considered mainstream. Other gatekeepers reap the benefits by targeting the markets that are formed by the Richard Branson's of the world.

Virgin records signed many groups that other labels would fear to touch with someone else's long stick. Some of the groups that Virgin either introduced or scooped up from oblivion are The Sex Pistols, Human League, Culture Club and Simple Minds. While some might praise Branson for taking chances on more alternative types of music, his biggest talent is business. (3) He has the ability to see what will sell. He has radical taste, but he is truly a pioneer in business. His business ventures have made him the 236th richest man in the world in 2008. (4)

Virgin Megastore is proof that Richard Branson is not a rebel against commercialism. The Virgin Group is a conglomerate of 350 companies. Besides music and Virgin Airline Branson's companies includes Virgin Pay-As-You-Go Mobile.

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