Tom Morris (businessman)
Tom Morris | |
|---|---|
| Born | February 10, 1954 |
| Occupation | Businessman |
| Known for | Founder and 89% owner of Home Bargains |
| Spouse | Kristina O'Hare |
| Children | 5 |
| Parent | Tom Morris & Veronica Morris |
Thomas Joseph Morris (born February 1954)[2] is a British billionaire businessman and the founder of retail chain Home Bargains.
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
- ^ "Bloomberg Billionaire Index: Tom Morris". Bloomberg. Retrieved 28 December 2020.
- ^ "Billionaires: Thomas Joseph MORRIS". Wealth-X. Retrieved 2 January 2017.
- ^ McCoid, Sophie; Britton, Paul (10 May 2019). "These are the richest people in Merseyside in 2019". liverpoolecho. Retrieved 2 July 2019.
- ^ "T. J. Morris Limited". Companies House. Retrieved 10 August 2015.
- ^ Beresford, Philip (26 October 2014). "Britain's Top 100 Entrepreneurs 2014: No. 14: Tom Morris, Home Bargains". Management Today. Retrieved 7 November 2014.
- ^ a b c Andrew Bounds, "A discounter’s stores stack up", Financial Times, 17 March 2009
- ^ a b c d "Home Bargains About". 7 November 2017. Retrieved 7 November 2017.
- ^ a b Andrew Bounds, "Discount retailer TJ Morris breaks through £1bn sales barrier", Financial Times, 14 October 2013
- ^ a b c d Cite error: The named reference
Forbes profilewas invoked but never defined (see the help page). - ^ 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. Retrieved 10 December 2020.
- ^ "#1m a year from #85 a week". Liverpool Echo. 7 June 2001. Retrieved 3 October 2015.