Billionaire Buys Stake in Economist Group

Canadian billionaire Stephen Smith has agreed to purchase a substantial 26.9 per cent stake in The Economist Group, marking the first shift in ownership for the esteemed publication in a decade. Smith Financial, his family's holding company, is the entity making the acquisition from Lady Lynn Forester de Rothschild, her family, and foundation.

This investment, announced on 2026-03-17T12:36:34+00:00, is intended to affirm Smith's commitment to The Economist's renowned editorial independence. Consequently, the publisher's strategic direction and daily operations are anticipated to remain unchanged.

The agreement, which is pending approval from trustees and the board, involves the acquisition of ordinary and special 'A' shares. These special shares will grant Smith a voice in appointing board directors. The terms of the transaction have not been publicly disclosed.

The Economist Group, a venerable institution first published in 1843, reported revenues of £368.5mn in 2025. The group, which also includes the Economist Intelligence Unit, has a complex shareholder structure with nearly 1,000 investors.

This acquisition represents Smith's first major venture into media ownership. Previously, he co-founded First National Financial and was instrumental in acquiring and merging Home Trust with Fairstone Bank of Canada. He also co-owns the proxy advisory firm Glass Lewis.