Michelle Mone
Photo: B Milnes, CC BY-SA 3.0, via Wikimedia Commons12

Michelle Mone

British businessperson (born 1971)

Michelle Georgina Mone, Baroness Mone, (née Allan; born 8 October 1971) is a Scottish businesswoman and life peer. She has set up several businesses, including MJM International Ltd in 1996 and the lingerie company Ultimo along with her then husband Michael Mone.2

From Wikipedia’s article on Michelle Mone (this version), CC BY-SA 4.0.

Born Oct 7, 1971.1

About

Other ventures include naturopathic 'weight-loss' pills, a fake tan product via Ultimo Beauty, overseas residential development and cryptocurrency. Mone became a Conservative life peer in 2015.

During the COVID-19 pandemic, Mone's husband's company, PPE Medpro, was awarded £200 million of contracts to provide personal protective equipment (PPE) by the UK government. The company made a profit of £60 million and some of the products they provided were defective and went unused. From 2020 to 2023, Mone vehemently denied that she or her husband had any involvement with the contracts. In January 2022, the House of Lords Commissioner for Standards and National Crime Agency launched investigations into Mone's links to the contracts. Mone announced in December that year that she was taking a leave of absence from the House of Lords "to clear her name" amid the allegations. Shortly afterwards the UK government announced plans to sue PPE Medpro for £122 million plus costs over the defective items.

In December 2023, Mone disclosed that she had been involved with PPE Medpro and claimed she had previously denied it to protect her family. In February 2024, a leak revealed that five months prior to £29 million of PPE Medpro's profits being transferred into a trust that Mone would benefit from, she assured the government that she would not gain "any financial benefit whatsoever", and that there were "no conflicts whatsoever" with regard to the company she had recommended to the government.

From Wikipedia’s article on Michelle Mone, shared under CC BY-SA 4.0.2

Companies

Early life and education

Born on 8 October 1971, Michelle Allan grew up in Dennistoun in the East End of Glasgow. She recounted how she had lived with her family in a one-bedroom house with no bath or shower until she was 10 years old. She also told of how her younger brother, who had spina bifida, died at the age of eight, when she was 10 years old, and that her father, who was suffering from cancer, lost the use of his legs when she was 15.

She left school aged 15, with no qualifications, to pursue a modelling career.

From Wikipedia’s article on Michelle Mone (this version), CC BY-SA 4.0.

Career

Occupation: politician, entrepreneur, model.5

  • Since 2015Member of the House of Lords4
  • Date not recordedFounded Ultimo3

Mone obtained a marketing job with the Labatt brewing company when she was 19 and, within two years, had risen to become its head of marketing in Scotland. She has since said that she invented qualifications to help get the job there. She was then made redundant by the company, prompting her, at the age of 23, to set up her own business using the redundancy compensation she received from Labatt.

MJM International

In November 1996, Mone founded MJM International with her then-husband Michael. In August 1999, Mone launched the Ultimo lingerie brand at Selfridges department store in London. Mone came up with the idea for the Ultimo bra, the brand's first product, when she was wearing an uncomfortable cleavage-enhancing bra one day and believed she could create a more comfortable cleavage-enhancing bra. Mone had read about a new silicone product while on holiday in Florida and approached the company to obtain its European licence to produce bras. Mone has claimed that an Ultimo bra was worn by Julia Roberts in the Hollywood film Erin Brockovich, but this was denied by the film's creators. Ultimo went on to include other products, such as backless dresses and shapewear, which led to MJM International's growth.

Mone portrayed herself as rich and successful but the accounts of MJM International show that between 2007 and 2009 she exaggerated about the turnover and number of staff employed by the business. The Independent estimated she would have earned £250k before tax in 2008, but she also borrowed £600k from the business. By 2011 the company had a turnover of £8.4m but was not profitable.

Mone left MJM International briefly in 2013 following the breakdown of her relationship with her then husband. The business assets were transferred to its parent firm, Ultimo Brands International Ltd, in a partnership with MAS Holdings. MJM International was then dissolved. In November 2014, Mone sold 80% of her stake in Ultimo Brands International to MAS Holdings. In 2014, a former operations director for MJM won a claim for unfair dismissal from her company after discovering that Mone had authorised electronic bugging of his office.

Mone threatened to sue her critics when it was revealed her company MJM International had paid a substantial sum of money into a controversial tax avoidance scheme, criticised by Chancellor George Osborne as "morally repugnant". Following a test case brought by HMRC against Rangers Football Club, the scheme utilising an employee benefit trust (the type of tax avoidance scheme used by MJM International) was exposed as ineffective in November 2015. Mone said she had "not done anything wrong" in relation to tax avoidance and that her ex-husband had "dealt with all the finance". In August 2015, Mone resigned her directorships of both MJM and Ultimo, saying she had sold 80% of the latter.

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TrimSecrets and weight loss

TrimSecrets were weight loss pills formulated by the "naturopath" Jan de Vries. The product also used diet and exercise advice. In 2006 MJM formed a joint venture with de Vries, taking a 50% share in the product. Mone claimed that exercise and reduced calorific intake had no effect on her weight and credited TrimSecrets pills for her weight loss. Mone falsely claimed the efficacy of the product had been proven in clinical trials. However, when questioned further, she said that approximately 60 users had completed a questionnaire but was unable to produce the results.

In October 2013, Jan de Vries sold his interest in the company with Mone having 60% of the business and a silent business partner the remaining 40%. In August 2015 it was reported that the company had made a loss in each of the last four years for which accounts were available.

In November 2015, Mone was criticised for using her "Baroness Mone"-styled Twitter account to promote TrimSecrets pills, although a spokesman for Mone said she had disposed of her ownership of the firm before her tweet. A spokesman for the British Dietetic Association said "there is no scientific basis or rationale for these products, they are making claims which are unfounded and feeding into public confusion around nutrition and pseudo-science."

On the ITV programme Loose Women in 2020, Mone said she lost weight during the COVID-19 lockdown by exercising three times a day. She stated: "When I was overweight and in a very uncomfortable horrible marriage, my way of coping with that was to continuously eat."

Ultimo Beauty/Ubeauty Global

In 2012 Mone's company, Ultimo Beauty, launched a fake tan product. In 2014 when announcing that she had sold most of her stake in Ultimo, she confirmed she had taken 100% control of Ubeauty Global, consisting of the assets of Ultimo Beauty.

In 2016, after she was made a peer, Mone changed the company formation so that it no longer had to publish public trading accounts. In February 2017 accounts for the company were published, covering the time from 2014 to 2016 and it was revealed the company had assets of £23,000. In March 2017, Mone announced that she had sold the company.

Aston Plaza development

In 2017, Mone and her partner Doug Barrowman launched a £250 million residential development in Dubai which they claimed was to be the "first-ever development to be priced in bitcoin". In April 2019, The Sunday Times reported that the development was "on hold" with the construction incomplete, while a spokesman for Mone said that it was going "extremely well" and was in the process of being redesigned.

Equi cryptocurrency

In 2018, Mone and her partner Doug Barrowman launched a cryptocurrency called Equi through a company called Equi Capital. It aimed to raise $US80 million which would be invested in startup companies. Mone described herself as "one of the biggest experts in Cryptocurrency and Blockchain" and promoted the project as the "bitcoin of Britain". The company recruited 1,000 people to promote the cryptocurrency through social media, but they only raised £1,600. According to Barrowman, £5.4 million of tokens were sold in a "pre-sale offering" but the public sale beginning in March 2018 raised only £540,000. By August 2018, The Sunday Times reported that the project had "flopped" and all investors had been refunded. The Financial Times reported that it had "ended in a fiasco that exposes the total absence of oversight in the ICO market".

From Wikipedia’s article on Michelle Mone (this version), CC BY-SA 4.0.

Personal life

  • BornOct 7, 1971, Glasgow6
  • CitizenshipUnited Kingdom7
  • SpousesMichael Mone 1989 to 20118; Doug Barrowman married 20208

Aged 17, Allan met her future husband, Michael Mone, and by 18 was pregnant with her first child, Rebecca. She then converted from Protestantism to Catholicism and married Michael, an anaesthetist's son from a Catholic family in 1992. She divorced Michael Mone in December 2011.

In November 2013 Mone gave Hello! a tour of her home in Glasgow and falsely claimed that Albert Einstein once lived there. When questioned about this claim by The National in 2023, she threatened to take legal action against the newspaper.

Mone's autobiography, My Fight to the Top, was published in 2015.

On 26 December 2018, Mone announced her engagement to Scottish businessman Douglas Barrowman. They were married on 29 November 2020.

In December 2021, a wealth manager of Indian heritage accused Mone of sending racist text messages to him after the two were involved in a 2019 yachting incident in Monaco, which resulted in the death of a person. He said that Mone called him "a waste of a man's white skin" via text. A spokesperson for Mone said she was not a racist and "Baroness Mone and her husband have built over 15 schools in Africa in the past three years"; this was followed by a message from her lawyers, who said that Mone could not access her messages and had no "detailed memory of them". Mone's spokesperson said it was "illogical she would have made such a comment or made it with the slightest racist intent as, at the time, she had no knowledge that the complainant was anything other than white British, as his appearance is 100% white, with a cut-glass English accent." The allegations of racism were referred to the House of Lords Commissioner for Standards, but commissioners did not investigate the matter as Mone's comments were said in a personal capacity and not in her capacity as a member of the House of Lords. In January 2022, the Metropolitan Police announced they were investigating the incident after receipt of an allegation of a racially aggravated malicious communication. In August 2022, Mone reached a settlement "on a no fault or damages basis in relation to the alleged racist claim", according to The Guardian; the settlement also involved a payment to the other party.

Mone and Barrowman own the Ballakew estate in St. Mark's on the Isle of Man. The estate is set over 154 acres. The nine-bedroomed house was described by Country Life as having "a list of leisure facilities which would make a 5-star hotel blush" with "tennis courts, helipad and grand architecture which will turn heads". The house also has an indoor pool and an amphitheatre. It was put up for sale in 2019 for £25 million.

From Wikipedia’s article on Michelle Mone (this version), CC BY-SA 4.0.

Politics

Mone says she previously supported the Labour Party, as did her family, but withdrew her support in 2009 after the prime minister, Gordon Brown, increased the top income tax rate to 50%, also indicating that she would leave the UK. She further stated that Brown and his government mismanaged the country's finances during the 2008 financial crisis.

During the London riots in August 2011, Mone called for the army to be brought in and tweeted "People who riot, steal, cover face deserve zero human rights". In January 2012, she gave an interview to The Sunday Times stating her intention to move herself and her business to England were Scotland to become independent following the 2014 referendum on the issue. However, despite Scotland voting No in the referendum, Mone confirmed a few months later that she was leaving Scotland.

On 10 August 2015, the government announced that Mone would lead a two-part review into entrepreneurship and small businesses, particularly focusing upon setting up small businesses in deprived areas, under the Work and Pensions Secretary, Iain Duncan Smith. On 27 August 2015, the prime minister, David Cameron, announced a list of new creations of life peers, including Mone. Her inclusion drew criticism from other business leaders. Some Conservatives questioned her suitability for the House of Lords.

Mone was criticised on Twitter when her first vote in the House of Lords was to vote against a motion to delay government cuts to tax credits of around £1,300 a year for three million low-income families. Mone responded to the controversy by tweeting that people should "work hard" and not "look for excuses" for their own poverty. In October 2016 she said that she was wrong to support the cuts and she regretted the way she voted.

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Attendance in House of Lords

In her maiden speech in the House of Lords, Mone stated: "I look forward to playing a full and active role in your lordships' house". The Times reported in 2018 that in the previous year, Mone had only attended the House of Lords on 12% of the days in which it was sitting, missing important debates including on the Brexit bill. Her low attendance led SNP MSP Rona Mackay to describe her as the "Layabout Lady of Mayfair" and businessman Douglas Anderson, who had criticised her original appointment, called for her to resign. By early 2022, Mone had made only five speeches in the House of Lords and asked 22 written questions. In December 2022, Mone's spokesperson said she was taking a leave of absence from the House of Lords in order to "clear her name" of allegations [see PPE Medpro controversy, below] that had been "unjustly levelled against her". At that time, Mone had not spoken in a debate since March 2020 and had last voted in April 2022.

From Wikipedia’s article on Michelle Mone (this version), CC BY-SA 4.0.

Awards

  • 2017BBC 100 Women9 10
  • 2010Officer of the Order of the British Empire9