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Branson waves £100M he stood to receive from Nationwide for use of Virgin Money brand

Sir Richard Branson has agreed to waive more than £100 million that he was entitled to receive from Nationwide Building Society for the use of the Virgin Money brand in its £2.9 billion acquisition of the bank.

British billionaire Richard Branson poised for a $320 million windfall under obscure exit fee for closure of challenger Virgin Money brand

Branson has been making money by licensing out the Virgin logo to his part-owned bank, and could reportedly get a big payout if Nationwide ditches it.

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