Michelle Mone opens new business with billionaire boyfriend

Michelle Mone will go into business with her partner.  Picture: Robert Perry
Michelle Mone will go into business with her partner. Picture: Robert Perry
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Michelle Mone has gone into business with her new billionaire boyfriend.

The Tory peer and Ultimo bra inventor has set up a company with tax haven-based Douglas Barrowman, according to official paperwork.

Baroness Mone of Mayfair Picture: PA Wire

Baroness Mone of Mayfair Picture: PA Wire

MMI Global Limited was incorporated last week, with Lady Mone owning 49 per cent of the shares, and Mr Barrowman’s Isle of Man firm Knox Limited owning the other 51 per cent.

The new venture is registered at Knox House in Mayfair in London, the home to many of the companies in Mr Barrowman’s Knox Group.

Glasgow-born Lady Mone, 45, was romantically linked to Mr Barrowman, 51, earlier this month after the pair were spotted strolling arm-in-arm.

She later tweeted, “After 25 years I’ve finally met my match” and added a red love heart emoji.

Lady Mone is one of three directors of MMI Global Limited, alongside two senior figures from within the Knox empire, Luke Webster and Sandra Robertson.

Mr Webster is managing director of Knox Private Office and Ms Robertson one of its directors.

According to its website, Knox Private Office offers a “tailored advisory service to ultra high net worth individuals, entrepreneurs and their families” and “tax planning services to both corporate and personal clients”, including help buying superyachts and property in Belgravia.

Mr Barrowman, from Rutherglen near Glasgow, made his fortune in private equity and property development, and lives in a multi-million pound home on the Isle of Man.

He recently featured in the Channel 4 documentary Million Pound Mega Yachts with one of his two superyachts, the 183ft Turquoise, which cost £50m and has a staff of 13.

His luxury car collection includes five Ferraris.

Lady Mone, who made her name with the Ultimo underwear brand, split from her husband Michael, with whom she has three children, in 2011 after 19 years of marriage.

Former prime minister David Cameron made her a peer in October 2015 and appointed her an adviser to the Government on business start-ups in disadvantaged communities.

Since entering the House of Lords as Lady Mone of Mayfair she has made just one speech, in March this year, while also declaring income from giving speeches elsewhere for a fee.

Earlier this year, Lady Mone cloaked her business empire in secrecy, by ending the requirement of her two companies to file public accounts. It was reported in October that Lady Mone had split from another boyfriend, Barbados-based golf professional Stefan Soroka.

In August, it emerged that she had taken full ownership of her former marital home in Thorntonhall, South Lanarkshire, which she had purchased with her former husband for more than £1.5m in 2008.

It had been on the market for offers over £1.6m since 2012.

Lady Mone’s spokesman declined to comment.