The eldest son of ex-prime minister Tony Blair is believed to be worth more than his father after his education start up was estimated at approximately £150 million.
Euan Blair, 37, is the CEO of Multiverse, a previously named WhiteHat, a London based company offering young people alternatives to university.
It was revealed yesterday that the business has secured an investment of £32 million from investors, who valued it at a reported £147 million, indicating a potential fortune for the former investment banker.
Reports suggest Euan Blair owns about 50 per cent of the firm, which means he could now be worth up to an eye-watering £73 million, more than his ex-Labour leader dad.
Tony Blair, 67, who is believed to have accumulated a property empire after leaving politics, had an estimated wealth of about £60 million in 2015.
Tony Blair served as prime minister from 1997 to 2007, during which time he famously championed ‘education, education, education’, which appears to have rubbed off on his son.
Multiverse works with a multitude of businesses, including Zoopla, Warner Bros, Google, Facebook and BP to match young people who don’t go to university with apprenticeships at major companies based on their abilities.
Euan himself studied at the University of Bristol and Yale University before taking a position at the investment bank Morgan Stanley. His successful start-up was then launched in 2016.
Yesterday’s financial injection into Multiverse is estimated to be the largest sum ever raised by a British education technology business, according to a news outlet.
The company said it would use the money to expand, a plan that includes hiring 200 or more staff on these shores and opening an office in New York.
Tony Blair and his wife Cherie, 66, have three other children, Nicky, 35, Kathryn, 32, and Leo, 20.
This is all pretty astounding because Euan Blair has supposedly done all this without any help from his father, his dad’s friends or any tax loopholes.
The problem is, people believe that success is measured in material wealth and as long as this is so, we’re never going to climb up to the next level of civilization.
Materialism breeds a sense of inequality, prejudice, bigotry and everything the world is drowning in at this point and we can’t seem to surface out of it, so still, a lesson that’s not been learnt.
And anyone that believes they’re better than anyone else will still end up in the same size coffin and same depth hole as me and you, and the destination is the same for everyone.
It’s not about what you know, it’s about who you know!