| Tom Morris | |
|---|---|
| Born | (1954-02-10) 10 February 1954 (age 70) Liverpool, England |
| Occupation | Businessman |
| Known for | Founder and 89% owner of Home Bargains |
| Spouse | Kristina O'Hare |
| Children | 5 |
Thomas Joseph Morris (born 10 February 1954) is a British billionaire businessman and the founder of retail chain Home Bargains.
According to the Forbes in December 2024, Morris is worth $5 billion.
Early life
Thomas Joseph Morris was born on 10 February 1954 in Liverpool. He is the son of a shopkeeper in Liverpool's Scotland Road, and one of seven children of Tom and Veronica Morris. The Morris family have been involved in retailing for three generations.
He received a degree in engineering.
Career
Morris started the Liverpool-based discount retail chain Home Bargains in 1976 in Old Swan, when he was 21 years old. The chain, during the time originally named "Home and Bargain" 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.
In 1995, Morris decided to rebrand the stores logo and name, from "Home and Bargain" to Home Bargains, with a new blue and red corporate logo which was designed by Morris's family member and graphic designer Anton Morris.
Morris reportedly founded the brand using a bank overdraft. It now has more than 595 stores, employing more than 34,000 staff. It still has its largest presence in the Merseyside region of the UK, and is the largest single employer in the area. Morris has said that he plans to expand the chain to more than 800 stores. 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. Three other brothers also work for the company.
Morris was worth an estimated £2.05 billion in 2014, as per the Sunday Times Rich List. In April 2018, Forbes estimated his net worth at $3.1 billion.
In 2023, the Sunday Times Rich List estimated Morris' net worth as £6.133 billion, making him the richest Liverpudlian and fourth wealthiest person from North-West England.
In 2018, Morris paid himself £1 million.
Personal life
He is married and lives in Lytham St Annes, Lancashire , England.
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.
References
- "Tom Morris". Forbes. Retrieved 7 December 2024.
- "Bloomberg Billionaires Index: Tom Morris". Bloomberg L.P. Retrieved 14 October 2024.
- Beresford, Philip (26 October 2014). "Britain's Top 100 Entrepreneurs 2014: No. 14: Tom Morris, Home Bargains". Management Today. Retrieved 7 November 2014.
- ^ Andrew Bounds, "A discounter's stores stack up", Financial Times, 17 March 2009
- ^ "Home Bargains About". 7 November 2017. Retrieved 7 November 2017.
- ^ Andrew Bounds, "Discount retailer TJ Morris breaks through £1bn sales barrier", Financial Times, 14 October 2013
- ^ "Forbes profile: Tom Morris". Forbes. Retrieved 18 April 2018.
- "Home Bargains started with one store in Old Swan but went on to make owner a billionaire". 8 September 2022. Retrieved 8 February 2023.
- Bill Gleeson, "Merseyside billionaires feature in 2014 Rich List", Liverpool Echo, 18 May 2014
- "Home Bargains boss pays himself £1m - Retail Gazette". www.retailgazette.co.uk. 23 October 2018. Retrieved 10 December 2020.
- "#1m a year from #85 a week". Liverpool Echo. 7 June 2001. Retrieved 3 October 2015.