Tony Blair’s son Euan is on his way to wealth of BILLIONS as Multiverse firm is valued at £1.35BN

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 education start-up company Multiverse has had its valuation double to £1.35billion in 8 monthsThe son of former prime minister Tony Blair is well on his way to becoming a billionaire at the age of 38 When Euan was 16 in 2000 he made a public apology after being arrested for being drunk on GCSE night

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Tony Blair‘s son Euan has seen his tech firm’s valuation double in eight months to £1.35 billion after securing £175 million in funding for Multiverse. 

The 38-year-old’s 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 his unfortunate brush with the law, when he was arrested as a teenager for being drunk after a night out in London celebrating his GCSE results. 

The 16-year-old Euan Blair made a public apology in 2000, backed by his Prime Minister father, following the police reprimand.

The 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, Euan Blair (pictured with his father Tony as a teenager in 1999) 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’.

As a young boy, Euan was occasionally photographed outside the steps of Downing Street with his mother, father and siblings Nicholas and Kathryn (all pictured). His youngest brother, Leo, was born in 2000

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.’

Tony Blair’s son Euan, pictured with wife Suzanne Ashman on their wedding day in 2013 in Wotton Underwood

Inside Euan Blair’s Multiverse company – which he founded  

Euan created his business, Multiverse, with a merchant banking friend in 2016, and now is the major owner, with up to half the shares. The company is paid by blue chip firms to recruit and train apprentices in the tech field.

The education tech firm formerly known as WhiteHat, works with business ranging from Facebook and Zoopla to Warner Bros and BP, matching young people with apprenticeships based on their skills. 

It set the record for the UK’s largest EdTech venture round in 2021 and has had injections of capital from General Catalyst, Google Ventures, Index Ventures, Audacious Ventures, Latitude and SemperVirens. These institutions were supported by angel investors including John W. Thomson, Chairman of Microsoft, and Jeremy Darroch, Chairman of Sky. 

The Multiverse website states: ‘Our mission is to create a diverse group of future leaders. To achieve this, we provide high-quality apprenticeship programmes that combine work, training and community.

‘Since starting in 2016, we’ve grown across the UK, training over 5,000 apprentices in partnership with more than 200 of the world’s best employers. 

‘Focusing on the skills of the future, our programmes range from business operations to data science and software engineering. Our mission is global, so in 2021 we launched in the US.’

Apprentices are offered a minimum £15,000 salary (£18 to £21k on average) while being placed at top firms by Muiltverse which it promises will likely lead to a job in their field. It claims 95% of apprentices who completed our programmes landed a job within 90 days. 

It gives these trainees free application and interview advice for the advanced data, data, digital marketing, software engineering and digital business accelerator fellowships. 

One Data Fellowship Apprentice, Cartomu, said: ‘Multiverse apprenticeships give young people like me more options. We don’t have to worry about our financial situation, whilst getting an education that’s relevant and useful.’

For its employers it matches employers with apprentices through data promising to reach ‘high potential, underrepresented talent that is typically hard to reach’ and offering an outstanding-rated Ofsted teaching programme to help apprentices succeed. 

It works with Morgan Stanley, Capital, the NHS, Citi Bank, KPMG and Laing O’Rourke. 

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