Tom Morris (businessman)

Tom Morris
Born Thomas Joseph Morris
February 1954 (age 64)
Residence Merseyside, England
Occupation Businessman
Known for Founder and 89% owner of Home Bargains
Home town Liverpool, England[1]
Net worth £3.49 billion (Sunday Times 2018)[2]
US$3.1 billion (Forbes April 2018)[3]
Spouse(s) Married
Children 5

Thomas Joseph Morris (born February 1954)[1] is a British billionaire businessman and the founder of retail chain Home Bargains.

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.[3]

Morris reportedly founded the brand using a bank overdraft.[3] It now has more than 400 stores, employing more than 17,000 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.[2] In April 2018, Forbes estimated his net worth at $3.1 billion.[3]

Personal life

He is married and lives in Merseyside, England.[3]

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.[9]

References

  1. 1 2 "Billionaires: Thomas Joseph MORRIS". Wealth-X. Retrieved 2 January 2017.
  2. 1 2 Bill Gleeson, "Merseyside billionaires feature in 2014 Rich List", Liverpool Echo, 18 May 2014
  3. 1 2 3 4 5 "Forbes profile: Tom Morris". Forbes. Retrieved 18 April 2018.
  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. 1 2 3 Andrew Bounds, "A discounter’s stores stack up", Financial Times, 17 March 2009
  7. 1 2 3 4 "Home Bargains About". November 7, 2017. Retrieved November 7, 2017.
  8. 1 2 Andrew Bounds, "Discount retailer TJ Morris breaks through £1bn sales barrier", Financial Times, 14 October 2013
  9. ↑ "#1m a year from #85 a week". Liverpool Echo. 7 June 2001. Retrieved 3 October 2015.
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