Tony and Cherie Blair have used their £60 million fortune to help their children get on the property ladder. Have they given eldest son Euan a leg-up as he sets himself up as an entrepreneur too?
Euan, 33, founded recruitment company WhiteHat Group to ‘accelerate incredible careers’, but his own business ambitions have been given the biggest boost.
An unnamed investor has given Euan an interest-free loan of almost £600,000, which has transformed the fortunes of his new firm as it struggles to post a profit.
Euan co-founded WhiteHat last February, and owns more than 75 per cent of the company. Newly published accounts show that it received a generous ‘capital contribution’ in its first year of trading.
Tony Blair, pictured left, and wife Cherie have used their £60 million fortune to help their children get on the property ladder. Have they given eldest son Euan, pictured right, a leg-up as he sets himself up as an entrepreneur too?
The accounts say: ‘During the period under review, the company received £567,211 by way of capital contribution. The balance bears no interest and is only repayable at the option of the company.’
Euan turned his back on a career in investment banking to set up WhiteHat, because he wanted to do something more ‘socially responsible’. The business aims to ‘democratise access to the best careers’, by helping those on apprenticeships find jobs.
‘We very much see ourselves as trying to save the day in apprenticeships — that mission element is very important to us,’ says Euan.
Last month, I revealed that Euan took advantage of his family’s ever-growing property empire by moving WhiteHat’s HQ to the £6.45 million London office building that was bought by his parents in July.
However, WhiteHat made a £404,016 loss in its first year, due to ‘administrative expenses’ of £498,727. The mystery £600,000 cash injection put Euan’s business back into the black, with shareholders’ funds of £163,295, at the latest count.
Spokesmen for the Blairs decline to comment on whether they gave WhiteHat its ‘capital contribution’.
But the Blair bank of Mum and Dad has been generous in the past.
Euan and Cherie co-own a £4.4 million townhouse in Central London, and a booming buy-to-let property firm.
The Blairs have also bought daughter Kathryn, 29, a £975,000 London maisonette, and son Nicky, 31, a £1.35 million London townhouse.
Young actresses should be given lessons at drama school on how to protect themselves against Harvey Weinstein-type predators, advises Dawn French.
The comedian, 60, says: ‘They should have a script as to what to do. So if they’re asked to go to an audition at a hotel, then say “no”.
‘Actresses need to learn what’s ok and what’s not. I can’t stop Harvey Weinstein. But I can arm young actresses.’
How Joely gave her mum Vanessa strength to go on
All eyes were on Oscar-winner Vanessa Redgrave on Sunday night at the British Independent Film Awards in London, where she was presented the Richard Harris award by her actress daughter Joely Richardson, 52.
Vanessa’s elder daughter Natasha Richardson died aged 45 in 2009 after a skiing accident.
All eyes were on Oscar-winner Vanessa Redgrave, pictured left, on Sunday night at the British Independent Film Awards in London, where she was presented the Richard Harris award by her 52-year-old film actress daughter Joely Richardson, pictured right
After suffering a heart attack two years ago, 80-year-old Vanessa credits Joely, daughter of film director Tony Richardson, with giving her the strength to live.
‘I said to her: “I’m sorry. I really don’t think I can struggle on any more.” She said the most wonderful thing. She did not say: “Go on. You can do it. Go on.”
‘Instead, she gave me a lovely smile and said: “Well, if you feel you must go, then you should go. That would be good.” ’
The Duchess of Cambridge gave this country’s designers a boost when she wore a wedding dress by Alexander McQueen.
Former British Fashion Council chairman Harold Tillman says Prince Harry’s American fiancée, Meghan Markle, should not, however, be coerced into choosing a Brit.
‘We need to be embracing international business,’ the tycoon tells me. ‘If we get ourselves into, “She’s marrying a British royal so she has to wear British,” then we’re isolating ourselves.
‘She should have a choice and not be cocooned into what Princess Diana did or what the Duchess of Cambridge did.
‘She should be given the choice to go international. She’s multi-cultural anyway, so why not?’