Joe Lewis’ $7.6 Billion Empire Weathers His Biggest Test
- Most of the British billionaire’s assets are based outside US
- Guilty plea ‘won’t affect him’ long term, ex-SEC lawyer says
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Joe Lewis’ guilty plea to insider trading has narrowed his path to US riches, but most of the British billionaire’s sprawling empire remains intact despite his self-confessed crimes.
The Tavistock Group founder — as well as any entity owned or controlled by Lewis — must resign from the boards of US publicly traded companies as part of last month’s plea. He must give up his stake in Boxer Capital, the firm for his biotech investments that has earned him more than 7,500% in returns. And he faces restrictions on interacting with certain staff.