Washington, D.C. – November 14, 2025 – In a move highlighting President Donald Trump's expansive use of executive clemency powers during his second term, the White House announced Thursday that Trump has granted a full pardon to Joe Lewis, the 88-year-old British billionaire and former majority owner of English Premier League club Tottenham Hotspur. Lewis, who pleaded guilty in 2024 to federal insider trading charges, had been facing restrictions on his U.S. travel due to the conviction, prompting his request for relief to pursue medical care and family visits.
The pardon, first reported by sports outlet The Athletic, was confirmed by a White House official in statements to multiple news organizations, including NBC News and the BBC. "Mr. Lewis admitted he made a terrible mistake, did not fight extradition in the case, and paid a $5 million fine," the official stated, emphasizing that the decision allows the reclusive magnate—now residing in the Bahamas—to "receive medical treatment and visit his grandchildren and great-grandchildren in the United States." Lewis, whose net worth stands at an estimated $6.9 billion according to Forbes' 2025 rankings, expressed gratitude in a personal statement: "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."
A source close to the Lewis family echoed this sentiment, telling reporters, "Joe and the Lewis family are extremely grateful for this pardon and would like to thank President Trump for taking this action." The family's control over Tottenham Hotspur remains intact through the Lewis Family Trust, which holds a majority stake via ENIC Group—approximately 87.62% of the club—despite Lewis personally stepping back from ownership in 2022. Under the trust's management, led by Lewis's daughter Vivienne, son Charles, and daughter-in-law Nick Beucher, Tottenham has continued its ascent, recently dismissing longtime executive chairman Daniel Levy in September 2025 to usher in fresh leadership amid competitive pressures in the Premier League.
Lewis's legal troubles trace back to a high-profile indictment unsealed in July 2023 by the U.S. Attorney's Office for the Southern District of New York. Prosecutors accused the investor of orchestrating a "brazen" insider trading scheme spanning from 2013 to 2021, during which he allegedly leveraged his seats on corporate boards—including those of U.S.-based firms like Australian Agricultural Company (AACo) and biotech entities—to funnel nonpublic information to a tight circle of confidants. According to the 29-page indictment, Lewis shared tips with romantic partners, personal assistants, friends, and even his private pilots, enabling them to execute "sure thing" stock trades that netted millions in illicit profits. One notable instance involved tipping off a girlfriend in July 2019 about positive clinical trial results for a biotech firm before public disclosure, leading to profitable investments.
Lewis, born in London's East End in 1937, did not contest the allegations aggressively. He voluntarily extradited from the Bahamas and entered a guilty plea in January 2024 to one count of conspiracy to commit securities fraud and two counts of securities fraud. In April 2024, U.S. District Judge Jessica G. L. Clarke sentenced him to three years of probation rather than prison time, citing his age, lack of prior criminal history, and the fact that he personally profited minimally from the scheme—estimated at under $1 million, with most gains accruing to others. Beyond the $5 million criminal fine, Lewis and his firm Broad Bay Limited agreed to disgorge over $50 million in penalties to the U.S. Securities and Exchange Commission (SEC), underscoring the scheme's scale.
The case drew international attention not just for Lewis's wealth—built through currency trading in the 1980s and 1990s, including a legendary short bet against the British pound during the 1992 Black Wednesday crisis—but also for his low-profile philanthropy and eclectic investments. His Tavistock Group portfolio spans real estate, hospitality, and sports, including ownership of the Albany golf resort in the Bahamas and a $1 billion art collection featuring masterpieces by Picasso, Matisse, Lucian Freud, and Francis Bacon (the latter acquired for a then-record £26.3 million in 2008). Lewis's Sunday Times Rich List valuation in 2023 pegged his fortune at £5.096 billion (about $6.6 billion), a figure that has fluctuated with market conditions but aligns closely with Forbes' 2025 estimate.
Trump's pardon for Lewis arrives against a backdrop of renewed scrutiny over the administration's clemency practices. Following his January 2025 inauguration, Trump briefly paused pardon reviews in March amid reports that lobbying firms had transformed the process into a "lucrative business," with consultants charging six-figure fees to shepherd applications through the Justice Department. Critics, including ethics watchdogs from groups like Citizens for Responsibility and Ethics in Washington (CREW), argued that the system favored deep-pocketed applicants with political connections, echoing controversies from Trump's first term when he pardoned allies like Michael Flynn and Paul Manafort. The pause led to a revamped vetting protocol under new Pardon Attorney Ed Martin, emphasizing "merit-based" criteria like remorse and rehabilitation—factors White House officials cited in Lewis's case.
This clemency wave has accelerated since the pause lifted in September. Just last month, on October 17, Trump commuted the seven-year prison sentence of former New York Republican Rep. George Santos, who had pleaded guilty in August 2025 to wire fraud, aggravated identity theft, and money laundering after his 2023 expulsion from Congress over campaign finance scandals. Santos, who served less than three months at the Federal Correctional Institution in Fairton, New Jersey, was released immediately, prompting backlash from Democrats like House Minority Leader Hakeem Jeffries, who accused Trump of prioritizing "serial fraudsters" over issues like the ongoing government shutdown. Trump defended the move on Truth Social, calling Santos a "rogue" who endured "horrible mistreatment" in solitary confinement and praising his unwavering Republican loyalty. Santos, ordered to pay $374,000 in restitution, has since vowed to comply only if legally compelled, further fueling debates on accountability.
Earlier this week, on November 10, Trump issued what may be his most politically charged batch of pardons yet: preemptive clemencies for 77 individuals linked to his 2020 election challenges, including former personal attorney Rudy Giuliani, ex-White House Chief of Staff Mark Meadows, lawyers Sidney Powell, John Eastman, and Kenneth Chesebro, and GOP activist Boris Epshteyn. Described by the White House as "full, complete, and unconditional," these acts shield recipients from potential federal prosecution but do little for ongoing state cases in Georgia, Arizona, Nevada, and Wisconsin, where many face racketeering and forgery charges related to fake elector schemes and pressure on state officials to reject Joe Biden's victories.
Legal experts view these pardons as largely symbolic for the unconvicted, but they underscore Trump's unapologetic stance on his post-election actions. Giuliani, disbarred in New York and facing $148 million in defamation damages from Dominion Voting Systems, issued a statement via spokesman Ted Goodman: "Mayor Rudy Giuliani stands by his work... and is deeply grateful for President Trump's decision." Powell, who pleaded guilty in Georgia's election interference case, and Chesebro, who cooperated with prosecutors there and in other states, were among four recipients who had already admitted felonies. Critics, including the Brennan Center for Justice, decry the batch as an "abuse of power" that erodes democratic norms, while Trump allies hail it as vindication against "weaponized" investigations.
Lewis's pardon fits a pattern of leniency toward high-profile financiers, following Trump's earlier clemencies for Binance founder Changpeng Zhao (sentenced for money laundering) and Nikola CEO Trevor Milton (convicted of fraud). As one of 12 such acts in 2025—compared to 237 in Trump's first term—the decision has reignited calls for congressional oversight of presidential pardons, with Senate Judiciary Committee Democrats planning hearings in December. For Lewis, the relief is personal: free from U.S. entry bans, the octogenarian can now focus on family amid health challenges, leaving a legacy intertwined with Tottenham's global ambitions and his own storied, if scandal-tinged, rise from currency trader to billionaire patron of sports and art.
