The Richardson Baronetcy, of Pencaithland in the County of Haddington, was created in the Baronetage of Nova Scotia on 13 November 1630.
The Richardson Baronetcy, of Augher in the County of Tyrone, was created in the Baronetage of Ireland on 30 August 1787.
He was head of the firm of L. Richardson & Co, of Port Elizabeth, London, New York and Boston.
In 1979 he was created a life peer as Baron Richardson, of Lee in the County of Devon, in the Peerage of the United Kingdom.
The heir apparent is the present holder's only son William Lewis Richardson (born 1992).