Sir Richard Charles Nicholas Branson, Kt (born 18 July 1950) is an English businessman and investor. He is best known as the founder of Virgin Group, which comprises more than 400 companies. At the age of sixteen his first business venture was a magazine called Student. In 1970, he set up a mail-order record business. In 1972, he opened a chain of record stores, Virgin Records, later known as Virgin Megastores. Branson's Virgin brand grew rapidly during the 1980s, as he set up Virgin Atlantic and expanded the Virgin Records music label. According to Forbes, Branson has an estimated net worth of US $4.9 billion.