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Sir Richard Branson shows off his Spanx

Spanx, the shapewear brand which has an estimated $400 million in sales, is beloved by millions of men and women around the world -- including Sir Richard Branson.

The business magnate recently met with CEO and founder of Spanx, Sara Blakely, at Goldman Sachs' 10,000 Small Businesses Summit event in Washington DC on Wednesday. In the now-viral Instagram post, Branson tells Blakely that Spanx is his 'favorite' kind of underwear, before pulling them up over his pants to prove it.

Both Branson and Blakely were trying to turn Michael Bloomberg onto the treasured undergarment, which has a cult following for both male and female consumers. "Don't bother. I've been wearing the same underwear for thirty years" responded Bloomberg.

To which Branson responded, "In fact, I think I'm wearing them right now!" No word yet if Bloomberg has drank the kool-aid.

Related: Inside Branson's private island