Eccentric billionaire Richard Branson started his first business at just 15, Student Magazine, and turned it into a success.
He interviewed music icons like Mick Jagger and within a year Branson had a net worth of over $50,000. It wouldn’t last long however because with his next move landed him a £70,000 fine.
Branson had started running advertisements in his Student Magazine for selling records and they had begun to take off. So he began selling more through a record shop he setup on Oxford Street in London.
In 1971 however Branson was pulled in by the police and questioned regarding some of the records being sold and fined £70,000.
That wouldn’t stop him though as a year later in 1972 he launched the record label Virgin Records. Initially signing bands that were considered to controversial for other labels, like the Sex Pistols, and later going on to sign the Rolling Stones, Peter Gabriel and many other successful groups.