Wasn't ripped off - his bid wasn't as good - I'm sure the cost of putting together the bid was more than paid back through the free positive pubilicity he received.
Nope he isn't. He is investing the profits into environmental related companies out of which he expects to receive a massive profit as he knows the govt are more likely to favour these areas with tax breaks over the years. He is a businessman, he's not a one man charity.
Brilliant entrepreneur, despite the fact that most virgin brands fail, he keeps the ones that are doing well close to his heart, and has protected the brand so that other companies are willing to do the hardword to be able to use the Virgin Banner. Take for example the bid for northern rock, he was willing to put in 200m for a 55% stake, with the other shareholders having to raise another 200m just to keep their hands on their reduced stake, and with the refinancing being handled by the merchant bankers. And as that has fallen apart, the govt have pulled a rabbit out of their hat by proposing 25bn worth of govt backed bonds available to anyone doing the deal, whilst the bear has sweetened his offer, by reducing his take to 45%.
The mortgage book alone is worth 2bn, so he would end up owning 900m worth of assets + plus the value of the branch network, which he can relaunch under the virgin brand. Excellent entrepeneurship. He surrounds himself with very smart people and listens to them.
On the downside, he's a complete tosser who salts his money away in tax havens and pays bugger all taxes - though you could argue that is the fault of the tax regime that allows such practices.