The billionaire entrepreneur Richard Branson has reportedly stepped down from the chairman role of Virgin Hyperloop One. In a statement, Branson mentioned that the company would require more time than he could devote to the company.
“At this stage in the company’s evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities. It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many business within the Virgin Group,” said Richard Branson.
A thing that wasn’t mentioned was the cancellation of a planned project with Saudi Arabia after Branson criticized the kingdom and suspended negotiations around an intended $1 billion investment from the nation’s Public Investment Fund into Virgin’s space operations.
Branson is one of the businessmen who have cut ties with the Kingdom of Saudi Arabia after the alleged assassination and dismemberment of dissident journalist Jamal Khashoggi.
Branson is one of several business leaders who have cut ties with the Kingdom of Saudi Arabia following the alleged assassination and dismemberment of dissident journalist Jamal Khashoggi.