Thompson was the son of Maurice Thomson (1601/4-1676), of St Andrew, Eastcheap, City of London and Haversham, "England's greatest colonial merchant of his day", who at one time obtained a monopoly of the Virginia tobacco trade.
He was High Sheriff of Buckinghamshire between 1669 and 1670[2] and was created a Baronet, of Haversham in the County of Buckingham, in 1673.
[2] Lord Haversham married firstly Lady Frances Annesley, daughter of Arthur Annesley, 1st Earl of Anglesey, and widow of Francis Wyndham, in 1688.
After her death in March 1705 he married secondly Martha Graham, a widow, in 1709.
Lord Haversham died at Richmond in November 1710 and was succeeded in his titles by his son, Maurice.