Branson on the Brink: The Night He Bet His Bentley to Save His Business

If there is a better example than Richard Branson of entrepreneur derring-do, I don’t know who it is. And this story - one I had never heard before - should be Exhibit 1.

It was 1973. Richard Branson had just launched Virgin Records. He had no track record, no real capital, and exactly one artist: Mike Oldfield.

Oldfield had recorded an instrumental album called Tubular Bells. It was strange. It had no lyrics and every major label in London had passed on it, calling it unmarketable.

Branson - as was his wont apparently - had bet the farm on it.

“I Can’t Go On!”

The album’s live debut was to be at Queen Elizabeth Hall. This was it.

The press had all been invited and were assembled. Record execs from across London gathered. This was the moment that would either put Virgin Records on the map or send Branson back to selling cut-rate records out of a church basement.

As they pulled up to the venue, Oldfield had a massive panic attack.

He refused to leave the car.

He told Branson he couldn't do it and wanted to go home. If Oldfield didn't play, the critics would leave, the buzz would die, and Virgin Records would be over before it started.

All or Nothing

Most managers would have tried a pep talk. They would have pleaded or threatened or talked about the “opportunity.” Branson did something else. He looked at his car. It was an old Bentley that Branson had bought on the cheap.

But still, it was a Bentley.

Branson pulled the keys out of the ignition and told Oldfield that if he got out of the car and performed the show, the key were his, the Bentley was his.

The Trade

Oldfield looked at the car. Looked at the keys. And said yes.

He walked into the hall and performed.

The set became legendary.

Tubular Bells went on to sell over 15 million copies. It became the theme for the movie The Exorcist. And it ended up funding the launch of Virgin Atlantic, Virgin Galactic, and indeed, the entire multi-billion dollar Virgin empire.

Postscript: The Bentley

Oldfield later admitted it turned out to be a total lemon. It cost him more in repairs than the car was worth.

But no matter.

He became a sensation and an acclaimed, very rich, musician because he really had wanted that Bentley.

The Takeaway

No, we’re not Richard Branson. He clearly is a risk-taker extraordinaire. But he is also a reminder that, even when the stakes are high - heck, especially when the stakes are high - being an entrepreneur means taking a risk. As my dear old dad and the best entrepreneur I ever knew once told me, that’s the job description.

Steal This Strategy

📖 Read – Losing My Virginity by Richard Branson: The ultimate masterclass in entrepreneurial grit and the art of the pivot.

🎥 Video – How He Bought Necker Island for $180k: Richard’s incredible negotiation story.

🛠️ Guide: Start Your Own Newsletter in Under an Hour, For Free, and Make Money Day One: My quick, cheap, super simple step-by-step guide to starting your own newsletter in under an hour.

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