One of England’s Most Interesting Billionaires

Before you read: some questions to help you think about the topic and the words you might need.

Have you heard of Richard Branson? What do you know about him?

Describe an interesting Billionaire you know about.

Sir Richard Branson is one of England's most famous entrepreneurs; a successful businessman and famous inventor. He started the innovative Virgin Group, which has more than 400 companies.

Branson is an inspiration for entrepreneurs and businesspeople all over the world, epitomizing the modern work ethic and the entrepreneurial way of thinking. At the age of just 16, Richard started his first business (a magazine called Student), and since then he has become into one of the world's most famous businessmen.

In 2014, he was on a list as the seventh richest person of the United Kingdom on the Forbes List of Billionaires. He has an estimated net wealth of $4.9 billion.

In addition to his business prowess, Branson has always shown an amazing desire to innovate and do new things. He has made many world record attempts, including the fastest person to go across the English Channel in a car that is also a boat. Also the fastest person to fly around-the-world in a balloon, and the fastest to go across the Atlantic Ocean and the fastest Pacific too in a balloon.

Branson also regularly does activities to help the world’s poor, using his large wealth and ability to help people and organizations all over the world. He is a starting sponsor of the ICMEC (International Centre of Missing & Exploited Children). He also founded the Branson School of Entrepreneurship, has been organized an environmental meeting at his private island, is a supporter of the Global Zero campaign, is a Commissioner on the UN Broadband Commission for Digital Development and has joined with the African Wildlife Foundation for it's 'Say No' campaign.

Virgin was started in 1989, and became the Virgin Group started by Richard Branson and Nik Powell and has more than 400 companies worldwide. Branson said the brand name 'Virgin' arose when the business partners were beginning their first business, a music record shop. Branson and Powell thought of themselves as 'virgins' in business, and so the name was decided because of this.

At the moment, the Virgin Group works from its headquarters at The Battleship building in London. It was previously in The School House in the London borough of Hammersmith  and  Fulham.

The core parts of the Virgin Group can be thought to be travel, entertainment and lifestyle. Although Virgin also manages businesses in financial services, transport, banking, health care, food and drink, media and telecommunications.  Although Branson retains 100% ownership and control of the Virgin brand, each of the companies operating under its name is a separate entity. Branson owns either a majority or minority control in other companies. Sometimes, he simply gives permission (for payment) to use the Virgin brand to an outside company, such as Virgin Records (owned by Universal Music Group) and Virgin Media (owned by Liberty Global).

Here are his top ten tips for success.

#1 Follow your dreams

#2 Make a positive difference in the world

#3 Believe in your ideas

#4 Have fun and take care of your team

#5 Don't give up

#6 Make lots of lists

#7 Get out there and do things

#8 Learn to delegate

#9 Prove your  naysayers wrong

#10 Do what you love, and have a sofa in the kitchen (this means learn to live with less if you have to)

Try to guess the meaning of the words in bold and match them with their closest meaning from the choices in the right. Some of the answers are very close and have similar meaning. The meaning of these words is how they are used in the reading. Some of these words have different meanings in the dictionary depending on how they are used.

 The answers are below the table.

A=3, B=1, C=9, D=4, E=2, F=8, G=5, H=7, I=6

Some example sentences using the new words or phrases from the meaning of how they are used in the reading to help you understand better.

1. Mr Lee was the best teacher I had, he really inspired me to study well.

2. My mother epitomized the class Asian Tiger mom who makes her children study hard.

3. Many say that work ethic is more important than ability for success.

4. He had natural prowess to be a great sportsperson.

5. The restaurant was founded in 1999.

6. Korea arose to be one of the biggest economies in the world from being poor 50 years ago.

7. One of the core things about learning to speak Chinese is to learn the different tones.

8. He sold the company, but retained his position as CEO.

9. Your nose is part of your face, but it has its own entity.

Some questions using the new words/phrases. Try to use the words/phrases in your answer.

1. Is there a famous business person who inspires you? Why?

2. Describe someone who epitomizes a typical Korean.

3. What do you think is the modern work ethic? How could it be different to past time?

4. How important do you think business prowess is?

5. When was Hyundai founded? Can you describe how Hyundai arose?

6. Describe the core parts of a company or organization that you know.

7. What things have you retained from your learning experience in school? What have you retained from how your parents raised you?

8. What do you think it means that each company that Branson has, has its own entity?