‘A sort of Harrovian Arthur Daley with a famous Mum’

THE exploits of former British Prime Minister Margaret Thatcher’s only son have often come under scrutiny over the years.

Mark Thatcher has not had the most successful business career and his dealings have led to questions in the British House of Commons. Yet his wealth is now said to stand at over €90 million, although he has dismissed the figure as “widely” off the mark.

Born on August 15, 1953, Thatcher and his twin sister Carol were delivered by Caesarean section while their father, the late Denis, was watching a test match at the Oval cricket ground in south London.

Thatcher, who inherited his late father’s baronetcy in 2003, left Harrow in 1971 with three O-levels, did not go to university and failed his accountancy exams three times.

He went through a series of jobs, dabbled in the Hong Kong business world and built up a network of business associates from the motor racing world plus the Middle and Far East.

In 1977, he set up Mark Thatcher Racing, a car racing company which developed cash problems.

His ambition to become a racing driver led to embarrassment in 1982 when he was ridiculed by the media for getting lost during the Paris-Dakar car rally in the Sahara.

In the early 1980s, when his mother was British Prime Minister, he also set up Monteagle Marketing, an international consultancy firm. Embarrassing Commons questions were asked about his role in helping the Cementation company win a multi-million pound contract to build a university in Oman.

He had flown to Oman the day after his mother arrived there for an official visit. It was claimed the events represented a conflict of political interest.

Thatcher later moved to Texas where he promoted Lotus cars and met millionairess Diane Burgdorf. The couple married in 1987 and have two children.

Thatcher’s apparent use of his mother’s position has led to much criticism. In a 1986 deal in which then British Aerospace sold jets to the Saudi government, it was alleged he had negotiated a commission of several million pounds. Margaret Thatcher had signed the Al Yamamah deal and British MPs called for an inquiry. Thatcher denied he had received £12 million (€18m) commission.

In 1995, it was claimed in a book that he used a hand-written note from his mother addressed to the ruler of Abu Dhabi to further his career and secure a profitable business deal.

Thatcher was once described by The Financial Times as “a sort of Harrovian Arthur Daley with a famous Mum”.

His notoriety was not welcomed by Bernard Ingham, Mrs Thatcher’s former press secretary.

Asked by Mark how he could best help his mother win the 1987 election, Ingham reportedly replied: “Leave the country.”

In 1995, Thatcher moved to Cape Town. He and his wife were reported to have suffered marriage problems, but remain together.

Thatcher is said to reside in South Africa for just 179 days a year to ensure he holds tax-exempt status.