10 Questions for Richard Branson

Nicknamed the Rebel Billionaire for his daredevil stunts, the Virgin megabrand founder was just dubbed Citizen of the Year by the U.N. for his eco-advocacy. Richard Branson will now take your questions.

You own an airline. Isn't it hypocritical to be preaching about global warming? --Mandy Johnson, Des Moines, Iowa I could sell the airline and those planes would carry on damaging the environment, or I could pledge 100% of the profits--which I have done--to developing clean fuels. Next year we plan to fly one of our 747s using a clean fuel to prove it can be done.

Do you think the government should push Big Business to be more environmentally friendly? --Emily James, Seattle Yes. Without government leading the way, it is difficult for the whole country to cut back on our carbon footprint. The government needs to reduce taxes on people who are driving green cars or making their homes more energy efficient.

How are Virgin Megastores adapting to the downloading of movies and music? --Strickland Maney, Los Angeles Music retailing is having an extremely hard time. Stores have had to reinvent themselves. For instance, we launched Virgin Mobile [a cellular provider heavy on hip downloads] and started selling other products like books and games that young people like. Virgin is perhaps one of the most adaptable companies in the world. If one of our industries gets hit, hopefully it is by another industry we are in.

How do you balance your desire for daredevil adventure with the risk of death? --Mengqiao Wang, Ithaca, N.Y. As an adventurer, if I try to do something man has not done before--like cross the Atlantic in a hot-air balloon--I try to protect against the downside. I make sure I have covered as many eventualities as I can. In the end, though, you've got to take calculated risks; otherwise, you're going to sit in mothballs all day and do nothing. Life is a helluva lot more fun if you say yes rather than no.

Has your outlook been affected by the passing of your friend, the adventurer Steve Fossett? --Joshua Foster, Spartanburg, S.C. People who really try to push boundaries often do not die in those pursuits. Lawrence of Arabia spent years fighting battles and got killed in a motorbike accident. When you're trying to achieve things man hasn't achieved before, you're trained for it. It's when you're off guard that things can be dangerous.

How do you decide which humanitarian projects to get involved with? --Dawn Gibson, Pasadena, Calif. There are numerous, numerous problems out there, and we just try to use our entrepreneurial skills to make sure that the money we give helps as many people as possible. I am terrible at saying no. At work, my nickname is Dr. Yes.

Has your dyslexia hindered you in the business world? --Skye O'Brien, Dartmouth, Mass. Strangely, I think my dyslexia has helped. When I launch a new company, I need to understand the advertising. If I can understand it, then I believe anybody can. Virgin speaks in normal language instead of using phrases that nobody understands, like "financial-service industry."

What is your beef with Rupert Murdoch? --Linda Weir, Santa Monica, Calif. I have no personal beef with him. He made one or two moves that we believe were anticompetitive, so we've taken that to the authorities, who will decide if he's behaving in an anticompetitive way. But if he invited me to dinner, I would be happy to go with him.

Why did you name a plane after Stephen Colbert? --Brandy Weisman, London I like to make people smile, and Colbert achieves that a lot. I love the way he mercilessly "takes the mickey" or has fun with the more extreme members of the Republican Party and, of course, pretends to be a Republican himself in such a clever way.

Will you ever cut your hair? --Elijah Alexander, Tunis [Laughs.] I am lucky enough to still have it, so while I still do, I will keep as much as I can.

Online only: Extra questions

Does your thrill-seeking spirit help or hurt you in business? --Horacio Coutino, Mexico City I think it helps. Entrepreneurs are adventurous people who are trying to do things that have never been done before. Sometimes you fall flat on your face, but I think by going out there and giving it a go, in the end you might actually succeed.

Do you believe you have already faced your biggest challenges, or do they still lie ahead? --Michael Crayton, Seattle The absolute biggest challenge for us all is global warming. I wish the American government would wake up to this fact, because it is going to have an effect on our children. Now, what is the answer to that problem? It could be that we are already too late and that the world is destined to heat up dramatically. That is why we have set up this $25 million prize that will be awarded to the person who finds a solution to global warming.

What is the most viable solution to our dependence on fossil fuels? --John Hall, Minot, N.D. If there were one quick move, I would get rid of the importation duty on sugar. All cars and buses in America could be run on sugar-based ethanol--it is seven times more efficient to produce than corn-based ethanol. Interestingly, American cars used to run on ethanol. It was only when Prohibition came in, and people became concerned that car owners would drink petrol, that dirty oil replaced it.