Here's How Much Richard Branson Paid for His Island

Richard Branson discusses his journey to success and shares his predictions on 'Real Biz With Rebecca Jarvis.'
7:25 | 11/03/16

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Transcript for Here's How Much Richard Branson Paid for His Island
I think the main thing is that people who got that its spirit its distanced somewhere. Munich and in time they may well. I. If you could freeze life your life at any moment in time what with eyes suspects had. Sixteen years old. In the sixties. Free love. Occasion the occasional joint mostly great music. Both great festivals. Medicare in the world. Before all of this before you are a billionaire before you had your own island. Jeff thinks having success is great it enables you to he would do a lot of things and achieve a lot of things that you can be proud of I endorse that comes with a lot of responsibilities. I goes way you. They should do and I think in if here if you are successful and you know you have a reputation you have wealth you've got to make sure that. You you let that be how to. Give back and there's a lot of problems in the world and and and I think it's very important that. A witness who successful spent a lot of time trying to help sold as problems outside. But as possibilities Simpson and you just that you just before one tighten our pocket. Maybe being frozen at sixty wouldn't be about life I think. You started out nearly kicked out of school as a young boy you dropped out at age sixteen what was your childhood nickname is was let's go had to get that nickname because any time we were doing something I'm it was get impatient and they. And now you've gone on to found hundreds of companies. What do you think the differences between you and only other people out there who might dream of doing what you did. But don't have their own. Well I'm opting out of the fiftieth and lucky breaks and on the way not created things that help send a patent things that I feel could make a real difference in the wild Millen with game making money but with the aim of crazy things like we problem it's not a Virgin Atlantic. Against the old fields went in one place with hated flying on British Airways here front doors were successful their stories. It really was coming up with a solution to something like something wasn't right in the world that's the it viewed here and there's some it is step by step in the world supplies. Because people liked what we rate it people and important to doing in amendments to pay the bills than. Build other things take for your house 27. A good. But then it was there was nothing on one pound tree of the cut. 120000 dollars that was the bar and and scrambled for and its cost a penny he sense that we need to about it once we had the most expensive audience it's 400 companies at this point that you have found. So when there is sat back. How do you overcome. Mind the kind of personnel work unit day and night try to make so some oh if I feel the writing is definitely on the walls like with with beautiful to make its nose which we've had Ronnie that he is when. I teams came alone and and people get music history on the Internet. I'm. He has Sullivan quoted today then the next day you pick yourself and you knew you move forward into other areas I'm not somebody that weeps. Maybe then pulled it from it. Would. That's easier said than I. People say this up attack as a billionaire it's easier to say something like that I think you just gotta be positive about life whatever stage you aren't if you're positive. The friendly. And you deal will be people you've got a chance of getting the typical. In difficult situations. You wanted to be. At at tennis player growing up as a kid that was your green eyes are still play tennis morning and evening I love it now loves sports if I wasn't and moved from. I think wouldn't mind if haven't sporting a sporting life but of course they wouldn't of lasted said. Yeah been an alternate to fifty years that would not be announced is sports person from fifty years. What did playing sports teach you about leadership I think you told me the the importance that you'd motivating people who praising people of the few for the rest of the team inspiring people and either trying to make sure that will all eleven if you work. Playing on the same side. When you have an employee Laurie teammate who is going off doing their own thing not playing for the team. How do you correct that. You might have a gentle word fuels that want mavericks then in a company I mean you may find that the one that's going off doing their own thing is exactly the one that's gonna create the greatest breakthroughs freedom and there was a guy that weapon virgin records a record company many years ago and that record shop on the opposite he's stealing from DC he's coming in selling records in Austral every day ties I've. Brought him in and I told him you know that wasn't ready the team to do. That I was an give him one more charms and he time to hand out to be best and I'll personally signed. Points that culture club and Phil Collins than. You know the reading sessions and to you know if he was a maverick and he just. You a little snag Anthony of Ennis he didn't steal from us again you there I don't think what do you want your legacy. How do you want to be remembered. I think the most important thing with legacy is. The children. You live you life is bringing up your children and and then maybe continuing. I feel good works and Portugal it's great kids who break our grandkids than have they'll have a happy memories of that that data mom Monday when when the time comes. The technologies. That we rely on right now that won't be around ten yours or there's a possibility. Cockpits of airplanes. A lot of pilots and and is now how likely is that it Stephanie. Due to school because the question is how many islands will actually. Actually make it happen so you know with with a list of self drive and and new technology you can need to make sure that people. And a well paid for less how will that work three day weekends and make sure that people would pay. And the same amount money companies will not suffer from. Through it and they'll make quite good money hasn't dispute technology Alfaro where we from three day weekend I would say ten years from now of it's it would be important I speak for him to that we can get that's coming virgin is looking at we are experimenting right now. And telling the number of a company's that this thing he could take as much time off and see what do you get paid for it. Name one technology that scares you. Nuclear weapons. AI does that scare into. Really why not. Because I think he exaggerates. About one I think. And I can be enormous benefit of have you watched west world I'm Fort Lewis the I had.

This transcript has been automatically generated and may not be 100% accurate.

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