Canadian billionaire Stephen Smith has agreed to acquire a 26.9% stake in The Economist Group from Lynn Forester de Rothschild and her family, reports the Financial Times.
The publication clarified that Smith’s family firm, Smith Financial, is purchasing the block of shares. According to sources, the billionaire’s company will pay approximately £300 million (over $400 million) for the stake in the publication.
The Economist magazine confirmed the sale agreement to the FT. However, it still requires approval from the trustees and the board of directors.
The Economist Group encompasses the journal, website, app, and podcasts, Economist Intelligence Unit (which supplies research on macroeconomic and geopolitical topics), and Economist Impact (which organizes events and policy research).
The group’s annual revenue in 2025 was £368.5 million (nearly $492 million), with operating profit coming in at £48.1 million ($64 million), and subscriptions increasing by 3% to 1.3 million.
In September 2025, Bloomberg wrote about Rothschild’s plans to divest 20% of her ownership in The Economist Group. According to sources, she is conducting an audit of her holding as part of a long-term restructuring of her investment portfolio.
Stephen Smith is one of Canada’s most prominent businessmen in the realm of financial services and mortgage lending. In 1988, he co-founded First National Financial. He also co-owns Canada Guaranty Mortgage Insurance and, in 2023, purchased the credit organization Home Trust, merging it with Fairstone Bank of Canada. Smith serves as chairman of the consulting firm Glass Lewis. According to Forbes, Smith’s wealth is valued at $6.9 billion.
About the Author
