This post was most recently updated on October 28th, 2020
Martin Lewis is well-known as one of the world’s richest journalists. He has won numerous awards as a campaigning journalist, TV and radio presenter, newspaper columnist, charity founder and author. According to the Sunday Times 2020 Rich List, Martin Lewis is worth £128m and one of the UK’s most searched for British men.
Martin Lewis was born in Manchester and grew up in Cheshire’s Delamere Forest. He now resides in London with his wife and daughter. He founded the Moneysavingexpert.com website in 2003. It was then valued at £100, and according to reports he sold it for £87m less a decade later. Martin Lewis is considered to be an expert when it comes to finance, particularly where saving is concerned.
He studied governance and law at the London School of Economics, before starting his career in broadcast journalism. Post-graduation, he landed his first job in the field, as a producer for BBC Radio Five Live. Ever since, Martin Lewis has made many appearances on renowned TV shows as a finance expert.
In recent news, Martin Lewis has been reported to have invested in cryptocurrency, particularly bitcoin. We decided to investigate these claims to find out whether they are true.
How Martin Lewis Became the Most Trusted Man in Britain
Martin Lewis’s influence started growing rapidly when he founded the Moneysavingexpert.com website in 2003. The website was originally designed at a cost of just £100, and later he sold the website to the Moneysupermarket.com group for up to £87m, while remaining editor-in-chief. This deal brought Lewis a generous amount of wealth and he also secured shares in Moneysupermarket.com. Lewis is well-known for his charitable works, after selling Moneysavingexpert.com, he allegedly donated £10m to charity, of which £1m would go to Citizens Advice. Currently, his personal wealth is estimated at £125 million.
It is reported that Martin Lewis became a Governor of the London School of Economics In 2008. He was appointed an Officer of the Order of the British Empire in the 2014 Birthday Honors for services to consumer rights and to charitable services. Lewis was also honored and named the Best Personal Finance Broadcast Journalist in 2020 by ADVFN
What Campaigns Has Martin Lewis Supported?
Martin Lewis has been on the forefront of many campaigns. In 2005, he backed and headed up a campaign against unfair bank charges and sparked worldwide awareness on the issue. He was at the forefront of the media campaign to reclaim unfair and unlawful fees charged by UK banks. He then was offered the opportunity on the first mainstream television programme on how to get your money back and thereafter Lewis went on to publish a step-by-step guide.
In 2008, Lewis appeared on several radio and television programmes, where he strongly encouraged consumers to cap their energy bills, based on the prediction that there would be further price increases. After a few months, UK energy companies un-capped their prices, reducing it by up to 10%.
Lewis campaigned for student finance in 2011 and launched the Independent Taskforce on Student Finance Information with former National Union of Students president, Wes Streeting. This taskforce was backed by the Department for Business Innovation and Skills, to provide information to aspiring students about prospective changes to tuition fees and student loans.
Lewis has also launched and provided funding for the Money and Mental Health Policy Institute, which aims at researching the link between mental health issues and debt.
Has Martin Lewis Been Involved in any Controversy?
There have been reports that Martin Lewis intentionally promoted his Moneysavingexpert.com website on the GMTV with Lorraine weekday morning chat show, where Lewis was a presenter. It is said that Lewis promoted Moneysavingexpert.com during the Deals of the Week feature. Lewis allegedly denied any wrongdoing, however no legal action was taken against Lewis, even though this promotion, during the feature, was in breach of Rule 10.3 of the code.
Has Martin Lewis Invested in Bitcoin?
There have been various news reports on mainstream media, as well as Facebook, Twitter and Instagram, that have claimed that Martin Lewis has invested in binary trading, bitcoin and energy products. We can now confirm that these claims are all false and have been denounced by Martin Lewis as fraud scams. Martin Lewis never endorses products nor does Moneysavingexpert.com.
Martin Lewis takes these fake news and social media claims very seriously, in fact, Lewis has made an agreement with Facebook to fight scam adverts after settling his campaigning defamation lawsuit. Lewis has a dedicated team to combat these scams and has donated £3m to fund Citizens Advice Scams Action, a new anti-scams project now providing one-on-one help to those worried they’ve been scammed.
Is Bitcoin a Profitable Investment?
Bitcoin has steadily grown in popularity since it was launched in 2009. Studies have shown that there is a growing interest, especially from millennials and young investors, to generate a passive income through cryptocurrency. According to reports, at least 40% of millennials have indicated that they are planning to invest in cryptocurrency in the future.
Any investment carries a certain level of risk, investment in bitcoin is no different. The price could drop at any given time, online hacking or a crashed hard drive can possibly wipe out an investors bitcoin too. This does not mean that bitcoin is not profitable, investors should just proceed cautiously and make sure that they have done adequate research concerning the digital asset before investing large sums of money. There are many trading technologies on the market that assists new investors with trading on the cryptocurrency market, with little to no formal trading experience, such as Bitcoin Profit and Bitcoin Evolution.
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