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21 April 2020, 12:51
Richard Branson has offered his famous Necker Island as collateral as he asks for bailout by UK Government, but where is it, and how much is it worth?
Richard Branson's Virgin Atlantic cooperation is asking for a taxpayer-backed bailout in order to save the company.
The billionaire has denied reports he wants "free money", and instead said the Government bailout will take form as a "commercial loan".
Now, Richard Branson has offered his famous Necker Island up as collateral for the "commercial loan", reported to be around £500million.
But what do we know about Necker Island, where is it, and how much is it worth?
Necker Island is in the British Virgin Islands, and is just north of Virgin Gorda.
Necker Island is a 74 acre island owned by the billionaire, located in the Caribbean.
Richard has said of the island on the website: "Necker Island is my home and favourite hideaway.
"I invite you to explore this idyllic island paradise for yourself and to be inspired by its beauty. I hope someday to be able to share it with you."
Richard bought the Island when he was 29, back in 1980.
Necker Island is believed to be worth £80,000,000.
Richard himself is believed to be work $4.3billion.