Richard Branson, daredevil venture capitalist

LONDON (Reuters) - Best known for starting up businesses, flamboyant British entrepreneur Richard Branson is fast building a reputation for trying to rescue them as well.

On Friday, the part-time daredevil took on one of his biggest challenges to date, unveiling a plan to take over stricken bank Northern Rock NRK.L and revive it with his trademark Virgin brand.

Conceived by Branson in 1970, the Virgin Group has gone on to grow businesses in sectors ranging from mobile phones, to trains, planes, music, retailing and financial services.

Many of its 200 branded companies have been started from scratch or built up in new markets.

But in recent years, Branson, estimated to be Britain's 11th-richest person with a 3.1 billion pound ($6.32 billion) fortune, has made forays into some of Britain's most troubled industries, with mixed results.

While Virgin Trains has won over some of its early critics, Virgin Media -- created to breathe new life into cable TV group NTL Telewest -- has struggled to take on satellite rival BSkyB.

Now, however, Branson is as well known for his maverick approach and headline-grabbing stunts as for his companies.

By shunning business niceties -- the 57-year-old billionaire champions "dressing down" -- and trying to fly around the world in a balloon or speed across the Atlantic in a powerboat, Branson has become the acceptable face of British capitalism.

As a result, polls have seen the bearded Branson variously described as a role model for the young, Britain's most admired businessman and a possible London mayor. He was knighted for services to entrepreneurship.

STOWE - A WAY TO FAME AND FORTUNE

Branson's business empire began at Stowe, an exclusive English private school set in magnificent grounds designed by 18th century landscaper Capability Brown.

Stowe's approach to education matches its unconventional setting. The school has said it judges itself by the achievements of pupils by the time they reach 40 rather than academic success at age 18 as other elitist schools mostly do.

That ethos that "every pupil here has a potential for excellence" provided the background against which the schoolboy Branson launched a student magazine.

Although it was short-lived, Branson's attempts to sell advertising space put him on to the idea of selling records by mail order. Two years later Virgin mail-order was born, with shops and then hit records following in quick succession.

Virgin Records scored a major breakthrough in 1973 with the launch of Mike Oldfield's "Tubular Bells", which sold more than five million copies and bankrolled the company.

Thereafter, one business venture led to another, often bigger, if not necessarily better, and a pattern was established whereby Branson sold successful ventures to fund expansion.

He sold 49 percent of his most successful venture, the Virgin Atlantic airline, to Singapore Airlines for 600 million pounds in 1999, having previously sold off all or part of brands like Mates condoms, Virgin records and Virgin radio.

PUBLICITY

Over the years, Branson has used ever more daring stunts to win headlines for his burgeoning empire.

The daredevilry began in 1985, the year after Branson launched Virgin Atlantic, when he tried to make the fastest-ever boat crossing of the Atlantic but capsized 140 miles off the British coast to be rescued by helicopter.

A second attempt within a year proved successful and Branson trimmed two hours, nine minutes off the old record of three days 10 hours and 40 minutes held by the liner 'United States'.

In July 1987, Branson completed a record-breaking Atlantic crossing by hot-air balloon from Maine to Northern Ireland in 1-1/2 days, although he again had to be rescued from the sea.

On Thursday, Branson was at it again, suffering cuts and bruises when he dropped from the top of a Las Vegas hotel to market the inaugural flight to the city for Virgin America.

Alongside his derring-do have been a string of comic stunts such as posing as a bearded bride to unveil Virgin's bridal shop and a nude pose on the front page of the Sun tabloid to promote his autobiography, "Losing My Virginity", in 1998.