Euan Blair
Euan Blair's apprenticeship firm 'Multiverse' sounds like the South Sea Bubble of 1720. It's a good example of what can happen when people succumb to group think and speculative bubbles and Ponzi schemes.
Despite the
company failing to return a profit for the last seven years, it was awarded the
coveted tech "unicorn" status when it was valued at £1.4bn
fundraising round driven by U.S. venture capital firms in June 2022. That put
Blair's stake in the company at £420m.
Blair recently bought a seven-bedroom house in London for £22m. He was able to make the purchase after venture capitalist investors, allowed him to sell £320m-worth of shares to buy a home.
Some people might
wonder why a company that hasn't returned a profit in the last seven years is
valued so high? How did Tony Blair's son manage to get the backing of some of
the wealthiest people in America, like the Walton family? It has surely got
something to do with his influential father and the prospects of expansion in
U.S. markets.
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