When you're a billionaire who owns a Formula 1 team, what do you put up as collateral in a bet with rival F1 team and airline-owning billionaires? Why, your dignity of course. This is what happens when you lose a bet over whose team is better.
Back in 2009, Branson apparently bet Tony Fernandes of Air Asia and Caterham F1 fame, that his Virgin team would beat out the Caterhams (then known as Lotus) in the 2010 season. Unfortunately for Branson, the Virgins sucked, and lost the bet he did.
As punishment, Branson had to dress-up as cabin crew in drag on an Air Asia flight, but since a skiing accident and the royal wedding got in the way, it's only now that Branson could get his dress on. Beautiful, don't you think?
The two used the humiliation as a way to raise money for Starlight Foundation, generating some £200,000-odd. Oh, the life of an airline-owning billionaire must be so much damn fun. [Virgin]