Modern Deceptions

, a limited series written by Mark Waid in 2004, offers an alternate look at Lex's history, including his youth in Smallville and his first encounter with Superman. The story has similarities to the 2001 television series Smallville,[23] which follows Clark Kent's life as a teenager and into early manhood; among the elements shared with the show is Lex's problematic relationship with his wealthy father, Lionel. Birthright also reinvents the Silver Age concept of Lex befriending Clark Kent as a young man. During a failed attempt to communicate with Krypton, an explosion erupts which singes off Lex's hair.[24] [25] Waid's original intention was to jettison the notion of Lex being an evil businessman, restoring his status as a mad scientist. However, he ultimately conceded that the CEO Lex would be easier for readers to recognize. In Birthright, Lex remains a wealthy corporate magnate; in contrast to Byrne's characterization, however, LexCorp is founded upon Lex's study of extraterrestrial life, thereby providing a link between himself and Superman.[23] [26] In the retrospective section of the Superman: Birthright trade paperback, Waid explains:

Birthright was initially intended to establish a new origin for Superman and Lex.[28] However, the canonicity of the series was eventually discredited by stories which followed it, to Waid's disappointment.[29] A concise biography for Lex, later outlined in Action Comics #850, first appeared in the 2007 limited series Countdown to Final Crisis. Lex's current origin appears to be a synthesis of aspects from Silver Age continuity and The Man of Steel mini-series. Recent changes to DC Comics continuity were revealed to have been a result of the 2005 Infinite Crisis mini-series.

As outlined in a backup proflie in the 52 weekly series,[volume & issue needed] the post-Action Comics #850 Lex in this continuity is the son of business mogul Lionel Luthor and his socialite spouse, Leticia. As shown previously in Superman: Birthright and the pre-Crisis stories, he spends part of his adolescence in Smallville, Kansas. It is here that Lex comes into acquaintance with Clark Kent, Lana Lang, and Pete Ross. However, in the 2009-2010 series Superman: Secret Origin, Lex and his father, Lionel are both once again poor as a child and an abusive alcoholic father, though residents of Smallville. Lena Luthor, appears back in this version, as his sister. In both versions, he leaves Smallville "under a cloud of rumor and suspicion", after having his father mysteriously killed without anyone finding out the details, and leaving his sister behind as well. He later resurfaces in Metropolis and founds LexCorp.

But, in this incarnation, Lex is so powerful then ever that he owned every media in Metropolis and used it to enforce his public image as a wealthy benefactor, while the Daily Planet had always stood free, even condemning his actions with an outrageous editorial signed by Perry White himself. As a result, when Clark Kent is first inducted into the Planet, the newspaper is almost bankrupt, dilapidated and unable to afford new reporters. Thanks to Clark Kent's appearance as Superman granting exclusive interviews and photographs to Lois Lane and Jimmy Olsen when he debuts, the paper's circulation increases 700%. However, the paper's refurbishment is interrupted when the US Army, led by Lois's father, General Sam Lane, forcibly shuts down the business while attempting to force her to tell them everything she knows about the now fugitive superhero after he fled an military interrogation. But, thanks to Jimmy's help, Lois manages to escape to help Superman just when he is finished. Sam arrives and orders Superman and Lois arrested. However, the crowd turns on the Army, and Superman orders the crowd to stop, telling them that they, not the Army, not Lex, nor himself, are meant to be Metropolis's saviors. Knowing Lex's role in the Army's attack against him, Superman confronts him and tells him that Metropolis doesn't belong to him: "You don't own us." Lex objects, since Superman isn't from Earth. Superman replies, "This is my home," and leaves. The next day, Lex goes to pick another person from the crowd of Metropolis to give a new life to (which he always does as his normal routine), only no one is there. Holding Superman responsible for losing his complete grip over the people of Metropolis, Lex holds a grudge against Superman, which lasts for an eternity. In both "JLA" and "52," Grant Morrison states that Lex's ego leads him to believe that the only reason Superman commits good deeds is to somehow strike at Lex and prove who is the better. Many times, Lex has stated that he could have aided the entire human race if not for Superman's interference, although both Superman and Connor Kent have called him out on the hypocrisy of this statement.

Lex's rise to the Presidency and his removal from office are also recounted in this biography, however contrary to Birthright his hair is once again shown to have naturally receded over time, as also shown in The Man of Steel.