Richard Branson has warned that Donald Trump’s policies are at risk of “doing so much damage” to the world, adding that he does not believe that most Americans support the U.S. president’s actions since returning to the White House.
Branson’s Virgin Group holds a portfolio of investments in an array of businesses which bear his brand name, including Virgin Atlantic, Virgin Voyages and Virgin Hotels.
Branson, who Forbes estimates is worth $2.8 billion, told reporters on Wednesday that Trump’s economic policies have been “erratic and unpredictable.”
“If we take Virgin, our cruise ships were booming, our airline was booming, our health clubs were full…They’re still OK, but you sort of feel if he continues, he’s in such danger of doing so much damage in this world,” Branson said.
Earlier this month, the Trump administration announced a series of tariffs on nearly all of America’s trading partners. The U.S. President then said there would be a 90-day pause on some of the measures, following a market sell-off that that erased trillions of dollars in value from global equities.
Since taking office, Trump has repeatedly threatened to impose a series of punitive measures on trading partners, only to pause or reverse some of them at the last minute. Although some officials claimed that it was a negotiating tactic for reaching a deal, business leaders like Branson say the uncertainty has made it difficult to adjust to such chaotic market conditions.
Branson said companies and governments would “manage as we always do. We’ll muddle through, but it’s just such a pity because everything was going so bloody well up to about three months ago.”
The British billionaire added, “I honestly think this is a fairly small elite of people around Trump. I don’t think he is carrying the vast majority of Americans in what he is doing.”
Branson was speaking at an event Wednesday to mark the start of Virgin Atlantic’s new route from its based at London Heathrow to the Saudi Arabian capital Riyadh.
About 60% of Virgin Atlantic’s capacity goes to the U.S., leaving the carrier more exposed to Trump’s tariffs. Virgin Atlantic had warned at the end of March that it was already seeing a slowdown in demand for travel from the U.S. to the U.K., amid mounting uncertainty among American consumers.
Delta Air Lines said a week later that its revenue had flatlined and its CEO Ed Bastian told CNBC that the company was “acting as if we’re going into a recession.” The carrier is already taking steps to preserve cash and prepare for a possible downturn.
Travelers are showing early signs of caution about planning trips due to mounting concerns that Trump’s tariffs will drive up prices and curtail economic growth.
In early April, Branson said the Trump administration should “own up to a colossal mistake and change course. Otherwise, America will face ruin for years to come.”
“As the dollar is weakening, U.S. consumer prices will rise,” Branson posted on X. “And countless small and medium-size enterprises will go, and already are going, bankrupt as a result. This is not a winning long-term strategy. The U.S. government can still turn things around, but it must act in the next few hours.”