David Kenneth Roy Thomson, also known as the 3rd Earl of Thomson, is a Canadian-born British media magnate who inherited significant wealth through his family's media empire. His source of wealth is primarily derived from the Thomson Corporation, a global media company founded by his grandfather, Roy Thomson (1st Earl of Thomson), in 1934. Here's how the family's wealth developed:
1. Roy Thomson's Newspaper Business: Roy Thomson began building the Thomson Corporation by acquiring newspapers in Canada, starting with the Timmins Daily Press in 1934. Over the years, he expanded his holdings, acquiring multiple newspapers, radio stations, and later, television stations, both in Canada and internationally.
2. Expansion into Global Media: Under Roy Thomson’s leadership, the company grew rapidly. By the 1950s and 1960s, Thomson had expanded into the United States and the UK. He was particularly successful in acquiring major British newspapers, which bolstered the family's wealth.
3. Diversification into Publishing and Information Services: After Roy Thomson's death in 1976, the company, under the leadership of David’s father, Kenneth Thomson (2nd Earl of Thomson), diversified its operations. The company expanded into information services and electronic publishing, acquiring businesses like West Publishing, a leading legal information provider, in the 1990s. This expansion into data services, legal information, and financial services was extremely lucrative.
In 2008, the Thomson Corporation merged with Reuters, creating Thomson Reuters, one of the world’s largest and most influential media and information companies, focused on legal, financial, and media markets. This merger significantly increased the family's wealth.
5. Inheritance and Investments: David Thomson inherited the family fortune when his father Kenneth Thomson passed away in 2006. In addition to his shares in Thomson Reuters, the Thomsons also own a large collection of real estate, including significant holdings in properties around the world. The family has also made investments in other sectors, including energy, technology, and entertainment.
Today, David Thomson is regarded as one of the richest individuals in Canada, and his wealth comes from the family’s continued control over Thomson Reuters, real estate, and diversified investments. The Thomson family has maintained a significant influence on global media, finance, and information services through its holdings and investments.
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