Tony blair will earn around £2 million a year in his part-time role as adviser to the Wall Street bank JP Morgan without ever having to go into the office, The Daily Telegraph has learnt.
The salary – far higher than reported so far – is proof that Mr Blair is well on course to becoming the richest former prime minister in history.
Last night rumours were growing that he is also increasingly keen on landing the job as the first fully fledged president of the European Union – meaning he would be mixing part-time posts advising businesses with one of the most powerful positions in world politics.
A spokesman for JP Morgan refused to comment on Mr Blair’s salary last night but said the bank viewed the appointment as particularly vital at a time when the world economy was entering one of the most difficult periods in recent history.
“We thought that in these turbulent times he would be especially valuable for the company,” he said.
JP Morgan is part of JP Morgan Chase & Co, a financial services firm with assets of around £760 billion in more than 60 countries.