Tuesday, April 6, 2010

Billionaire Invests in Virgin Money


Wilbur Ross, who became a billionaire investing in steel and oil businesses, has purchased a 21% interest in Virgin Money, created by another billionaire, Richard Branson. Virgin Money was set up to buy the 318 branches of the Royal Bank of Scotland from the British government. He may even invest additional fund, possibly ten times his original investment.

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