Branson was appearing on the Colbert Report to pitch his newest airline venture, Virgin America. It seems he was not pleased with the amount of airtime he had to make that case and as a result he dumped water on Colbert. Apparently Colbert demanded water from his crew to return the favor and promptly poured water over Sir Richard.

Given Branson's gift for publicity it is entirely plausible the whole thing was staged.

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