The unidentified Virgin spokesman said Friday while Branson did leave New York in a yacht with family members in an attempt to cross the Atlantic Ocean in a yacht this week, he was forced to forgo the attempt by inclement weather, London's The Sun said.
Since leaving New York Wednesday, Branson's Virgin Money yacht endured significant damage that prompted the businessman to issue a pessimistic broadcast.
"The storm has also taken out the spinnaker and ripped the main sail so we'll have to decide whether it can be mended and whether we've still got a chance of making the record," Branson said.
But while the Virgin chairman, his family and crew are now traveling through the Bermuda Triangle, it appears the damage was too extensive for a trans-Atlantic attempt.
The Daily Telegraph said the Atlantic Ocean journey would have marked the most recent record-setting attempt by Branson, who has traveled across the body of water in a powerboat and a hot-air balloon during the 1980s.