Born in Stoke Newington, North London, to devout Jewish immigrant parents of modest means, Levy was educated at Grocers, later known as Hackney Downs School.

The practice attracted a great number of clients in the music and entertainment industry, and Levy became a specialist in international copyright and licence.

Amongst the clients were the Foundations, Vanity Fair, Roger Greenaway, Barry Mason and many other successful producers and artists.

The successful artists on the label included Alvin Stardust, Adrian Baker, Chris Rea, Bad Manners, Darts, Susan Cadogan, Silver Convention and Guys 'n' Dolls.

Guitarist Chris Rea said of Levy, "He is extremely tough, one of the hardest bastards I have ever met, but I would leave my children with him rather than anyone else."

M&G Records was so named as it was the initials of Michael and his wife Gilda, and featured acts such as Zoe who had a top five hit with "Sunshine on a Rainy Day" and Pele who had success with "Fair Blows the Wind for France".

[3][4] Levy first met Tony Blair at a dinner party in 1994, hosted by Israeli diplomat Gideon Meir,[1] the two having a common friend in Eldred Tabachnik, a senior barrister and former president of the Board of Deputies of British Jews) at 11 King's Bench Walk Chambers, the chambers founded by Derry Irvine where Blair had trained in the early 1980s.

"[12] From 1998 until 2007, he acted as Prime Minister Blair's personal envoy to the Middle East, being replaced by Gordon Brown's appointee, Lord Williams of Baglan, in September 2007.

[14] Many leaders in the region, including Palestinian President Mahmoud Abbas have praised Levy for always offering constructive suggestions.

He also holds and has held a number of other positions in the voluntary sector, and he was a former member of the Board of Directors of the International Peace Institute, IPI (2014-2019).

[5] Lord Levy received an Honorary Doctorate from Middlesex University in 1999, and the Israel Policy Forum (USA) Special Recognition Award in 2003.

He has received the Jewish Chronicle 175th Anniversary Award for outstanding, unique and long term contributions to British Community life.