Former U.K. prime minister Tony Blair is set to take on a highly-paid advisory role at at luxury goods group LVMH.
Blair is understood to be in the final stages of negotiating a six-figure pay package at the group, which is owned by France’s richest man Bernard Arnault.
Blair already gets Â£2.5m from the U.S. investment bank JP Morgan and a further Â£2million as an adviser with the finance firm Zurich.
He also charges tens of thousands of pounds to give one speech and even charges to have his photograph taken with members of the public.
But critics point out that by taking the job Mr Blair, 56, may be accused of profiting personally from actions he took while he was Prime Minister.
Mr Blair formed a close connection with multi-billionaire Mr Arnault during the final years of his premiership – by which time he and his wife Cherie were well used to mixing with the international jet set.
A source close to Blair told the Daily Telegraph newspaper today, “There is an agreement in principle but nothing has been signed yet.
He won’t be joining the board but he will be acting in an advisory role, working very closely with Mr Arnault. In particular, his job is likely to involve attracting new clients.”
Blair is expected to take up his consulting role at LVMH, which also owns MoÃ«t & Chandon and and the Dior fashion label, later this year.