George Osborne has forged a lucrative career since he left politics after the Brexit vote.
The former Chancellor edited the Evening Standard, earned £ 650,000 for four days a month with financial giant Blackrock, and was recently named a partner in boutique investment bank Robey Warshaw.
But the 49-year-old’s success and prosperity pale in comparison to his girlfriend, Thea Rogers, who is ten years his junior as she prepares to crystallize her stake in Deliveroo when it costs up to £ 7.2 billion.
George Osborne (pictured with girlfriend Thea Rogers) edited the Evening Standard, made £ 650,000 for four days a month with Blackrock and became a partner with Robey Warshaw
The shipping app has denied its inventory was worth as much as a £ 40million rumor – but as an executive, Rogers’ payday on the listing is likely to be sizeable.
The company has boasted that all employees have held options since 2018, meaning the IPO could make hundreds of them rich instantly.
Last year, Hut Group’s float, valued at £ 5 billion, produced 74 millionaires. Deliveroo’s tactic of offering customers £ 50m worth of shares has fueled the buzz around the float, and many expect stocks to “burst” on listing.
Rogers, the tech company’s chief customer officer, began a relationship with Osborne in 2019 after breaking up with 21-year-old writer Frances.
Rogers was a political producer for the BBC before entering politics as special adviser and then chief of staff to the former Chancellor.
Osborne is said to have held onto a 3 million pound chalet in the Swiss alpine town of Verbier (picture)
Osborne has stunned critics with his reinvention, nicknamed “Nine Jobs” for his ability to fill lucrative positions after retiring from politics, which dwarfs the £ 140,000 a year he made at the height of his political career posed.
Rogers, an Oxford graduate, was first hired by Osborne to improve his media image. She has been credited with “metrosexualized” him – by sharpening his wardrobe and haircut, and putting him on the 5: 2 fasting diet – and was a key brain behind the national living wage and Northern Powerhouse concept.
She was rewarded with the biggest raise of her colleagues in 2015 and an OBE.
She joined Deliveroo in January 2017 as Head of Public Relations and took her current position last year amid a series of hires and promotions to position the top team for the Float.
Osborne’s permanent base is now a £ 1.6 million Georgian five bedroom home in the high society town of Bruton, Somerset
Around the same time, Osborne announced a separation from his wife Frances, 52, the daughter of former Conservative Cabinet Secretary Lord Howell. The decision was “mutual and well thought out,” said the couple.
He sold the £ 4 million townhouse in Notting Hill where they lived with their two now grown children. However, it is believed that they were holding onto a £ 3million chalet in the Swiss alpine resort of Verbier.
Osborne’s permanent base is now a £ 1.6 million Georgian five bedroom home in the high society town of Bruton, Somerset.
While Osborne and his girlfriend seem to be sitting nicely, there will be significant uncertainties about how investors will sustain the Deliveroo float.
Technology stocks have taken a hit in the past fourteen days on fears of inflation and whether customers will continue to shop online with the same enthusiasm when life returns to normal.
Experts have questioned whether the enormous order volume via the Deliveroo app will be retained as soon as restaurants and cafes are reopened.
The company announced a loss of £ 223.7 million in 2020, despite booming sales and the claim to “best-in-class economy”.
Russ Mold, Investment Director of AJ Bell, said: ‘It’s hard to see that there will be another year where market factors have been so strongly in his favor.
A cynic might ask if Deliveroo can’t make a profit with this in mind, then when? ‘The company was founded in 2013 by UK-based American businessman Will Shu.
An analysis by consultancy OC&C was cited yesterday which found it was operating in a market that could be worth up to £ 1.2 trillion.
But it’s also part of a highly competitive environment – against Just Eat Takeaway.com and Uber Eats.
The company has already tried to close a controversial area before going public and announced a £ 16m thank you fund for its longest serving drivers. It has long battled claims that its drivers should be entitled to vacation, sickness benefits, and rights if they are injured on the job.
It’s likely that Shu and his executives were dying to avoid making money on the IPO while gig economy workers got nothing.
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