The Wealth Of The Thomson Family: A Story Of Media Empire And Legacy

We live in an era of truly incredible wealth and vast inequality between the richest billionaires and everyday middle-class people. The 25 richest families in the world have a combined net worth of $1.1 trillion. Among these influential families, the Thomson family stands out as the 18th wealthiest, boasting a remarkable combined net worth of $30.9 billion. This wealth can be traced back to Roy Thomson, the 1st Baron Thomson of Fleet, who began the family's journey to affluence in 1934 by acquiring a newspaper in Ontario, Canada, with a modest down payment of $200.

From his initial investment in the Timmins Daily Press, Roy Thomson quickly expanded his media empire by purchasing numerous newspapers and radio stations across Ontario. By the early 1950s, he had become the owner of 19 newspapers and served as the president of the Canadian Daily Newspaper Publisher's Association. His drive to cater to expatriate Canadians led to the creation of the Canadian Weekly Review for those living in the U.K., further solidifying his influence in the media landscape.

Roy Thomson's foray into the global media scene continued as he moved to Edinburgh, Scotland, where he acquired The Scotsman newspaper in 1952. His strategic acquisitions, including Scottish Television in 1957—dubbed a "permit to print money"—and the Kemsley Group in 1959, which encompassed the largest group of newspapers in the U.K., paved the way for an expansive media empire that now exceeds 200 newspapers across Canada, the U.S., and the U.K.

Table of Contents

• Thomson Family Wealth and Empire
• Legacy and Succession Planning

Thomson Family Wealth and Empire

Roy Thomson was not just a media mogul; he transformed the media landscape through strategic investments and acquisitions. His vision enabled him to build a legacy that continues to thrive today. The Thomson Organization's interests span various sectors including publishing, printing, television, and even travel!

The family's wealth is not solely derived from media. In the 1970s, Roy Thomson partnered with notable oil tycoon J. Paul Getty to form a consortium that struck oil in the North Sea, further diversifying their income sources and cementing their financial prowess.

Legacy and Succession Planning

Roy Thomson passed away in 1976, leaving behind a detailed succession plan intended to guide his family's future. He designated his grandson David as the eventual successor to lead the Thomson Corporation. This foresight ensured the family's values and work ethic would continue through generations.

Under David Thomson's leadership, the family took significant steps to expand their reach in the media world. The acquisition of Reuters in 2008 transformed the Thomson Corporation into Thomson Reuters, a powerhouse in the global information market. His role as the chairman of Canada's Globe and Mail newspaper further underscores the family's ongoing influence in media.

Today, the Thomson family's wealth not only reflects their historical achievements but also their strategic foresight in business and investment. They continue to earn substantial cash dividends from their public holdings, illustrating a legacy of financial acumen that is both impressive and inspiring.