UK billionaire Joe Lewis, founder of investment firm Tavistock Group, was recently granted a pardon. The unexpected move was made by former US President Donald Trump. Lewis’s legal woes continued, and he pleaded guilty to conspiracy and securities fraud charges in 2024. Indeed, this development is a continuation of those positive trends.
Lewis was ranked 39th on the 2023 Sunday Times Rich List. As of 2022, his estimated fortune is over £5 billion, about $6.4 billion. His firm, Tavistock Group, is notoriously proud of its diversified ownership—from finance to food. These sectors range from property to sports to finance to energy and even to life sciences.
In 2001, Lewis made front page news by taking a controlling stake of Tottenham Hotspur football club. His total investment was £22 million—that’s about $32 million as of this writing. In 2022, the family trust officially assumed control of the club. Financial records filed with the Canadian government indicate that Lewis does not hold “significant control” of the team any longer.
In July 2023, federal authorities arrested Lewis. They arrested him and charged him with sixteen counts of securities fraud and three counts of conspiracy. To avoid a trial that could have bankrupted him, he cut a deal with prosecutors and pleaded guilty to insider trading. Yet as a result, he was spared prison time. Instead, Lewis was handed a $5 million fine and three years of probation.
According to a person near the Lewis family, they are “over the moon thankful” for the pardon.
“Mr. Lewis admitted he made a terrible mistake, did not fight extradition in the case, and paid a $5 million fine.”
In response to this turn of events, Lewis released the following comments celebrating the end of his legal fight.
“I am pleased all of this is now behind me, and I can enjoy retirement and watch as my family and extended family continue to build our businesses based on the quality and pursuit of excellence that has become our trademark.” – Joe Lewis