“Heartbroken to share that Joan, my wife and partner for 50 years, has passed away,” Branson, 75, wrote in a statement posted to Instagram. “She was the most wonderful mum and grandmum our kids and grandkids could have ever wished for. She was my best friend, my rock, my guiding light, my world. Love you forever, Joan x.”​

No cause of death has been disclosed.​

The announcement comes shortly after Branson shared a photograph of himself kissing his wife’s head last week with the caption, “Everyone needs a Joan in their life,” and posted another image on Monday with the simple message, “Love this photo of Joan.” Templeman had celebrated her 80th birthday in July, which Branson marked with a tribute thanking her for standing by his side “through the highs, the lows, and all those quiet, content, and peaceful moments in between.”​

A love story spanning five decades

The couple’s relationship began in 1976, when Branson spotted Templeman—then married to musician Ronnie Leahy—working at a bric-a-brac shop in London’s Westbourne Grove, not far from the Virgin Records studio. Branson has written extensively about their early courtship, recalling how he “fell for Joan almost from the moment I saw her.”​

“Joan was a down-to-earth Scottish lady, and I quickly realized she wouldn’t be impressed by my usual antics,” Branson wrote in a blog post on the Virgin website. To win her attention, he would “persistently hang around the shop and buy countless objects” before they began dating.​

Two years into their relationship, Branson made what would become a legendary romantic gesture. In 1978, with Virgin Records still in its early days, he contacted a realtor about purchasing an island in the British Virgin Islands—primarily to impress Templeman. The asking price was $6 million. Branson offered $100,000, prompting the unamused realtor to leave the couple stranded. ​

A year later, with no other buyers and Virgin Records on firmer financial footing, Branson secured the 74-acre island for $180,000. He named it Necker Island. The couple married there in 1989, and both of their children—Holly and Sam—later wed on the island as well. It remained the family’s home.​

Behind the scenes of a (Virgin) empire

While Branson cultivated a public persona marked by hot-air balloon crossings and space flights, Templeman remained steadfastly private. Born in Glasgow in 1945, she grew up in a working-class household and held various jobs before meeting Branson. Despite her husband’s global fame and estimated net worth of roughly $3.2 billion, she avoided the spotlight throughout their four decades of marriage.​

Branson frequently credited her as the stabilizing force behind his entrepreneurial ventures, which include Virgin Atlantic, Virgin Galactic, Virgin Records, and the nonprofit Virgin Unite. “She is a very private person, who has always stood by me mentally, emotionally, and spiritually,” Branson wrote in a tribute for her 70th birthday. “As the saying goes, behind every man there’s a great woman.”​

The couple had three children together. Their first daughter, Clare Sarah, died just four days after being born three months premature. Their surviving children, Holly, 43, and Sam, 40, both hold roles within the Virgin organization: Holly serves as chief purpose and vision officer, while Sam acts as an informal advisor. Branson is a grandfather to five: Etta, Artie, and Lola (Holly’s children), as well as Eva-Deia and Bluey (Sam’s).​

Richard and Joan were also signatories to the Giving Pledge, committing to donate the majority of their wealth to philanthropy. In their joint pledge letter, they emphasized that “stuff really is not what brings happiness. Family, friends, good health, and the satisfaction that comes from making a positive difference are what really matters.”

​For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.