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Joe Lewis, the billionaire UK businessman whose family trust owns Tottenham Hotspur football club, has been granted a pardon by former US President Donald Trump. Lewis, now 88 years old, had previously pleaded guilty in 2024 to charges of insider trading, an agreement which allowed him to avoid incarceration. He was accused of illegally sharing confidential company information with a network including his private pilots, friends, personal assistants, and romantic partners, generating millions in illicit profits.
According to a White House official, the pardon was approved to enable Lewis to obtain medical treatment and spend time with his grandchildren and great-grandchildren in the United States. The official noted, “Mr Lewis admitted he made a terrible mistake, did not fight extradition in the case, and paid a $5 million fine.” Lewis himself expressed relief at the resolution, stating, “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.”
The family expressed their gratitude for the pardon through a source close to them, describing themselves as “extremely grateful” and extending thanks to Trump. Lewis is the founder of Tavistock Group, an investment firm with interests spanning property, sports, finance, energy, and life sciences sectors. In 2023, he was ranked 39th on the Sunday Times Rich List with an estimated net worth exceeding £5 billion ($6.4 billion).
Lewis was arrested in July 2023 on sixteen counts of securities fraud and three counts of conspiracy. Prosecutors alleged that between 2013 and 2021, he exploited his boardroom access to disseminate insider information to his contacts, who made substantial profits from such tips. US Attorney Damian Williams highlighted that these associates made millions through “sure thing” stock market bets. One example from the indictment described Lewis instructing a girlfriend to invest in a biotech company in July 2019 before clinical trial results were made public. He then allegedly accessed her bank account to invest $700,000 himself, resulting in a $849,000 profit. Lewis ultimately pleaded guilty to conspiracy and two counts of securities fraud, receiving a $5 million fine and three years of probation. He is primarily known for acquiring a controlling stake in Tottenham Hotspur football club in 2001 for £22 million (about $32 million at the time). Control of the club was transferred to a family trust in 2022, with documents filed at the UK’s Companies House showing that Lewis no longer holds “significant control” over Tottenham Hotspur
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