Franco-Lebanese shipping magnate Rodolphe Saadé is eyeing the Rothschild family’s stake in The Economist, the UK-based magazine that has become a staple read for the global business elite.
The philanthropist Lynn Forester de Rothschild, whose late husband Sir Evelyn de Rothschild formerly chaired The Economist, has put her 27 per cent share of the business up for sale.
Bankers from Lazard hope that the auction could value The Economist at as much as £800 million, which would make the Rothschild stake worth more than £200 million.
Saadé is understood to be considering a bid for the shares, although it is not clear that he has formally expressed an interest.
If successful, he would join a shareholder register that includes Italy’s Agnelli family, who bought a 43 per cent stake in 2015 from education group Pearson, which also sold the Financial Times that year.
Saadé is best-known as the boss of French logistics and shipping giant CMA CGM, founded by his late father, Jacques. However, in more recent years, he has been building up a portfolio of media assets
In 2024, Saadé swooped on the assets of debt-laden tycoon Patrick Drahi, including the French broadcaster BFM TV and the radio station RMC. He already owned business newspaper La Tribune and regional daily La Provence, and last year he took a stake in French film studio Pathé.
Media industry sources believe Saadé, a member of the US-based Business Council, is keen to build his profile and influence beyond the French-language media world.
The Economist boasts a global subscriber base of more than one million across print and digital formats. Last year, it generated revenues of £369 million and made an operating profit of £48 million.
It says its company constitution is written so that no shareholder can exercise more than 20 per cent of the voting rights. The title’s editor is chosen by trustees who are appointed to be independent of commercial, political and proprietorial influence.
A representative of Saadé declined to comment. Lazard did not respond to a request for comment.