British billionaire Sir Richard Branson sailed into Bermuda grinning and waving last night – undefeated by a "hellish" failed attempt to break a trans-Atlantic speed record.

"We won't give up," said the 58-year-old adventurer and entrepreneur as he stepped off the 99ft racing yacht Virgin Money in St. George's at 9 p.m. "Next time we'll go the whole way."

Sir Richard was co-skippering the vessel, winner of this year's Newport Bermuda Race, on a voyage from New York to Lizard Point in Cornwall, England, aimed at breaking the record for a trans-Atlantic crossing in a single-hulled sailboat in less than six days, 17 hours, 52 minutes and 39 seconds.

But 40ft waves and gale force nine winds put paid to the attempt – forcing the sailors to abandon the bid after just a day-and-a-half at sea.

"It was a great adventure, a tremendous adventure," he told the crowd watching at Ordnance Island, including his wife Joan, as he disembarked. "We were only about 30 hours in when we started having problems and ripped the main sail."

Admitting that he succumbed to seasickness, he said: "It was hellish actually. For about 24 hours we just had one hell of a storm but you need that kind of weather to break the record."

He said he had every intention of making the attempt again, possibly in as little as three weeks time, if the weather conditions are right.

"Strangely, I don't get disappointed, I just love the doing and the adventure," said the Virgin Group chairman. "The success is nice but it's not the reason for being here."

Sir Richard's 25-man crew included his doctor daughter Holly, 26, the only woman onboard, and son Sam, 23, as well as vastly experienced sailors such as British Olympic medallist Ben Ainslie and co-skippers Mike Sanderson and the boat's owner Alex Jackson.

Helmsman Ainslie, who was running a watch on the yacht, said: "It was actually really rough and tough but it was good fun. This boat with this team is capable of breaking the record."

Sam Branson, who has been on three Arctic expeditions, said he watched in horror as the spinnaker sail "exploded" in the storm.

"Records wouldn't be so prestigious to break if they were easy," he said.

The Virgin Money, which set sail on October 22, was given permission to dock at St. George's last night but was expected to move to a space at the Royal Yacht Club in Hamilton this morning. Crew said it was likely to sail to Florida once repaired.

Sir Richard, his family and crew were staying at the Fairmont Hamilton last night after a hearty meal at the White Horse Tavern in St. George.

A private jet will take the Bransons to their private Necker Island in the British Virgin Islands today.