FROM THE PAST. . .

Two Billionaires Used Barter To Build Their Empires

Bloomberg News Fabulously Successful

Michael Bloomberg, the founder of Bloomberg News, a New York financial news and information provider, has been pushing his $1,225-a-month data terminal to the financial industry for almost a decade.

The current NYC major is fabulously successful, but Bloomberg candidly admits that it was his pro-active use of barter that enabled him to build his “brand” within the financial community.

He did so by feeding newspapers and magazines his data and news in exchange for publicity. Every news outlet that used a story acknowledged and credited Bloomberg. Consequently, his name and reputation appeared everywhere ... because of the trading arrangement.

Virgin Label Also Built On Barter

Richard Branson, the flamboyant English showman and Europe’s best-known entrepreneur, has built an empire of some 200 companies. With an estimated worth of $2 billion, according to London’s Sunday Times, Branson harnessed a barter strategy that enabled him to launch a myriad of businesses with minimal investment.

He calls it “branded venture capital,” whereby he essentially agrees to manage a new venture and puts up the Virgin name — usually in exchange for a controlling interest — while his wealthy partners put up most of the cash. This barter strategy has helped Branson rapidly expand his brand name on a worldwide basis.