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#47 Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way
Founders
The Loss of Control
I was extremely reluctant to follow British tradition and pay out a large dividend. I preferred the American or Japanese tradition whereby a company concentrates on reinvesting its profits in Virgin. To me, a large dividend meant a loss of cash, which would be better employed with in Virgin than by paying it away. It seemed to me that our outside shareholders had entrusted their money to Virgin in order for us to make it grow. Not for us to hand back 5% of it back on a plate, which would then be taxed as income and so immediately lose 40% of its value. So there's that word control again.
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