Sir Tony Blair’s son Euan has surpassed his father’s multi-million-pound fortune thanks to his £700 million Google-backed apprenticeship startup.
The 38-year-old Yale graduate and former Morgan Stanley banker recently purchased and moved into a £22 million townhouse in West London. The seven-bedroom mansion features an “iceberg basement” with a swimming pool, 50-foot reception room and a lift for his extensive collection of cars.
Blair’s mother, Cherie, helped her son onto the property ladder 20 years ago when she purchased a £265,000 flat for him to live in a while studying ancient history at Bristol University. Mr Blair’s startup, Multiverse, matches young people with apprenticeships at leading employers, such as Google and Depep. He sold a portion of his shares which mounted to the value of £320million, in order to purchase a home.
The former US Congress intern has previously expressed his disappointment with his father’s failure to fulfil his promise of socioeconomic mobility, saying: “When you look at the 50 percent target, the belief was the more people go to university, the more people can access great opportunities, the more we would transition people fairly from full-time education to full-time employment.”
“It has not worked out that way, getting a degree does not guarantee you a job … even from supposedly top universities.”
The co-founder of Coventry-based startup YoungEntrepreneur has been praised for prioritising social mobility and promoting apprenticeships to disadvantaged students. His company, Multiverse, recently welcomed a US investor-led funding round of £95 million, boosting its value to £650 million.
The company has partnered with rappers, including Tinie Tempah and Ms Banks, to raise awareness about apprenticeships among more disadvantaged pupils.