Monday, October 22, 2018

Sir Richard Branson Out At Virgin Hyperloop One

Sir Richard Branson is out as the Chairman of Los Angeles-based Virgin Hyperloop One, the developer of high speed, "hyperloop" transportation technology, the company said on Monday. Reason for the departure was not given, however, according to reports, the move officialy was because Hyperloop One needs a "more actively involved leader". However, the abrupt departure comes after Virgin Hyperloop One reportedly had lost a major investment deal with Saudi Arabia, after Branson publicly critized the country for the high profile disappearance (and likely murder) of journalist Jamal Kashoggi at the Saudi Arabian consulate. Two other, local Branson-linked firms--Virgin Galactic and Virgin Orbit--also had deals with Saudi Arabia for investments. Branson became Chairman of Virgin Hyperloop One in December of 2017.