Tom Morris (businessman)

Thomas Joseph Morris (born February 1954)[2] is a British billionaire businessman and the founder of retail chain Home Bargains.

Tom Morris
Born (1954-02-10) February 10, 1954
OccupationBusinessman
Known forFounder and 89% owner of Home Bargains
Net worth£4.11 Billion (Dec 2020)
US$5.58 Billion (Bloomberg Dec 2020)[1]
Spouse(s)Kristina O'Hare
Children5
Parent(s)Tom Morris & Veronica Morris

According to the Sunday Times Rich List in May 2019, Morris and his family are worth £3.59 billion.[3]

Early life

Thomas Joseph Morris was born in February 1954.[4] He is the son of a shopkeeper in Liverpool's Scotland Road, and one of seven children.[5][6] The Morris family have been involved in retailing for three generations.[7]

He received a degree in engineering.[6]

Career

Morris started the Liverpool-based discount retail chain Home Bargains in 1976,[8] when he was 21 years old. The chain retails a diverse range of goods, including health and beauty products, groceries and toys. The stock is often bought at discount from brands trying to offload stock.[9]

Morris reportedly founded the brand using a bank overdraft.[9] It now has more than 550 stores, employing more than 22,000 staff.[7] It still has its largest presence in the Merseyside region of the UK, and is the largest single employer in the area.[7] Morris has said that he plans to expand the chain to more than 800 stores.[7] Morris's interest in Home Bargain's is held by parent company TJ Morris.

Morris owns 89% while his younger brother, Joe Morris, is a smaller shareholder and operations director.[8] Three other brothers also work for the company.[6]

Morris was worth an estimated £2.05 billion in 2014, as per the Sunday Times Rich List.[10] In April 2018, Forbes estimated his net worth at $3.1 billion.[9]

In 2018, Morris paid himself £1 million.[11]

Personal life

He is married and lives in Merseyside, England.[9]

In 2001, the Liverpool Echo reported that his son worked for the company, and that his daughter Lisa and her American husband Brian run Morris Textiles, the linen warehouse.[12]

References
  1. "Bloomberg Billionaire Index: Tom Morris". Bloomberg. Retrieved 28 December 2020.
  2. "Billionaires: Thomas Joseph MORRIS". Wealth-X. Retrieved 2 January 2017.
  3. McCoid, Sophie; Britton, Paul (10 May 2019). "These are the richest people in Merseyside in 2019". liverpoolecho. Retrieved 2 July 2019.
  4. "T. J. Morris Limited". Companies House. Retrieved 10 August 2015.
  5. Beresford, Philip (26 October 2014). "Britain's Top 100 Entrepreneurs 2014: No. 14: Tom Morris, Home Bargains". Management Today. Retrieved 7 November 2014.
  6. Andrew Bounds, "A discounter’s stores stack up", Financial Times, 17 March 2009
  7. "Home Bargains About". 7 November 2017. Retrieved 7 November 2017.
  8. Andrew Bounds, "Discount retailer TJ Morris breaks through £1bn sales barrier", Financial Times, 14 October 2013
  9. "Forbes profile: Tom Morris". Forbes. Retrieved 18 April 2018.
  10. Bill Gleeson, "Merseyside billionaires feature in 2014 Rich List", Liverpool Echo, 18 May 2014
  11. "Home Bargains boss pays himself £1m - Retail Gazette". www.retailgazette.co.uk. Retrieved 10 December 2020.
  12. "#1m a year from #85 a week". Liverpool Echo. 7 June 2001. Retrieved 3 October 2015.
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