London: Tony Blair’s earning power hit astonishing new heights on Wednesday when he pocketed more than £150,000 (Dh880,531) for only an hour’s work.

The former Prime Minister, who is said to have amassed a £50 million fortune since leaving office, was paid the staggering sum for two 30-minute speaking events over two days, at which he discussed global affairs.

The fee works out at more than £2,600 per minute. Blair’s work as a Middle East “peace envoy” is unpaid but this latest trip to Dubai was as guest of honour of Arabian Business magazine to mark its business achievement awards.

A source said he was being paid a $250,000 fee, around £157,000. In addition, the source said his eight-man team was being put up in the finest Dubai hotels and entertained with no expense spared.

A spokesman for Blair refused to comment on his fee, adding: “He does not have an ‘eight-strong entourage’. He is travelling with his wife and one member of staff and his usual security team.”