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Daily Mirror
Daily Mirror
National
Andrew Young

Toni & Guy founder Toni Mascolo's huge fortune revealed in will

The hairdressing tycoon who co-founded Toni & Guy left a £163million fortune in his will, it has emerged.

Toni Mascolo, who died in 2017 aged 75, set up the salon chain with brother Gaetano - who was known as Guy - in 1963.

He drew up his will three months before his death, and probate records reveal that Toni, whose real name was Giuseppe, left his estate in trust for his wife Pauline and their three children - daughter Sasha and sons Christian and Pierre.

He and his wife, who lived in Effingham near Dorking, Surrey, met when Pauline was a junior in Toni's salon in Clapham and were married for 47 years.

His will also gave power to his trustees to pay sums to any other individual or charities of their choice.

He left a fortune of more than £160 million to his family (Surrey Advertiser)

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The net valuation of his estate of £163,060,774 related only to assets in England and Wales and did not include anything he owned overseas.

His will emphasised that his property and wealth in his native Italy were excluded from its provisions. He was domiciled in Italy and owned a villa in Sorrento overlooking the Bay of Naples.

Toni and his brother pair drummed up business by delivering leaflets to local houses advertising their 'Italian style' for men and women - which was unusual at the time.

Following the success of their first venture in Clapham, South London, they opened two more unisex salons nearby before moving to Mayfair in 1974.

Their early celebrity clients included Diana Ross and Dusty Springfield who was famed for her beehive, Gregory Peck and members of the Rolling Stones.

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The brothers' first Toni & Guy franchise opened in Brighton in 1988 and within 12 years there were 112 in High Streets across the UK.

The franchise operation eventually became a global brand with 475 salons employing 8,000 staff in 48 countries as away as Cambodia and Sri Lanka.

Toni's three younger brothers joined the business and the wider Mascolo empire ended up including hairdressing academies, design and shopfitting businesses, hair products and a second salon chain called Essensuals.

Toni who was born in Naples started helping his hairdresser father Franco after school at the age of 12 and could not speak English before his family emigrated to the UK in 1957.

He gave up thoughts of being a lawyer or accountant to be a stylist, later becoming the breadwinner for his family after his mother Maria died aged 45 in 1962, leaving his father too distraught to work.

Toni, a devout Catholic, worked six days a week in his salons and often devoted part of Sunday to visiting wholesalers.

He was still full of ideas for expansion and cutting hair in his Sloane Square salon on Saturday mornings when he was well into his 70s.

Toni joked that he helped Boris Johnson become London mayor in 2008 by giving him a trim to tame his 'wild and bushy hair' and make him 'suddenly presentable' on the eve of the mayoral election.

He was given an honorary OBE for services to hairdressing in 2008 and was awarded a knighthood of the order of St Gregory by Pope Benedict XVI in 2013.

His book 'Toni: My Story: The Rags-to-Riches Story of Toni & Guy, Hairdresser to the World' was published in 2015.

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