Tony Blair’s son Euan, 38, is on his way to becoming a BILLIONAIRE as his Multiverse firm is valued at £1.35BN… 22 years after being arrested on boozy night out to celebrate his GCSEs
- Euan Blair’s ‘EdTech’ company called Multiverse is now valued at £1.35billion
- The education start-up has near doubled its valuation of £700m in eight months
- The son of former prime minister is well on his way to becoming a billionaire
Tony Blair‘s son Euan has had his tech firm Multiverse valued at £1.35 billion after securing £175 million in funding.
His personal stake in the ‘EdTech’ company, which aims to get young people into apprenticeships, is believed to be worth around £380million.
It comes 22 years after the businessman’s brush with the law, when he was arrested as a teenager for being drunk in central London after a night celebrating his GCSE results.
The 38-year-old chief executive, who bought himself a £22million mansion last month, founded the business just six years ago and in the last eight months it has doubled its previous valuation of £700million.
The company works with more than 500 employers to get students from underrepresented backgrounds into professional services through apprenticeships.
Last week he was awarded an MBE for services to education in the Queen’s birthday honours list.
Euan Blair’s education company Multiverse is now valued at £1.35billion, with his own stake thought to be worth around £380million
In 2000 A 16-year-old Euan (pictured with his father Tony as a teen) had to publicly apologise after he was arrested for being drunk and incapable in Leicester Square after celebrating his GCSE results
Aged 16, Euan was found by police ‘drunk and incapable’ and vomiting in Leicester Square after celebrating the completion of his GCSE exams a little too hard.
Having initially given a false name and address, telling officers he was called Euan John, was aged 18, and lived at his old home in Islington.
Only days earlier his father had been speaking out against hooligan behaviour, calling for police to be given powers to levy on-the-spot fines on drunken youths.
After seeing the inside of a cell, he was released without charge and driven home by special branch officers.
Then Alastair Campbell read out a prepared statement of apology from Euan to the public.
He said he was ‘very sorry for the inconvenience he caused to the police’.
Speaking after the funding was announced, Euan Blair, chief executive and founder of Multiverse, said: ‘There has never been a more pressing time to create an alternative to university education that is equitable and inclusive and there is an incredible opportunity before us to change the status quo with apprenticeships.
‘This funding will help us bring more people without degrees or in need of re-skilling into tech careers and ultimately create a more diverse group of future leaders.’
Previously Euan has suggested GCSEs should be scrapped because he thinks they are not a good indicator of future work performance and can hinder social mobility.
His remarks and business set him apart from his father, who called for seven in 10 young people to go to university – saying an increase from the current 53 per cent was key to the UK competing with ‘high-innovation economies.
Euan said Tony had congratulated him on his new funding, speaking to the Evening Standard he said: ‘Of course he has – he’s hugely supportive of apprenticeships.’