Tom Morris (businessman)

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Tom Morris
Born
Thomas Joseph Morris

February 1954 (age 66)
OccupationBusinessman
Known forFounder and 89% owner of Home Bargains
Home townLiverpool, England[1]
Net worthIncrease£3.59 billion (May 2019)
US$3.1 billion (Forbes April 2018)[2]
Spouse(s)Married
Children5

Thomas Joseph Morris (born February 1954)[1] 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[edit]

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[edit]

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.[2]

Morris reportedly founded the brand using a bank overdraft.[2] 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.[9] In April 2018, Forbes estimated his net worth at $3.1 billion.[2]

Personal life[edit]

He is married and lives in Merseyside, England.[2]

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.[10]

References[edit]

  1. ^ a b "Billionaires: Thomas Joseph MORRIS". Wealth-X. Retrieved 2 January 2017.
  2. ^ a b c d e "Forbes profile: Tom Morris". Forbes. Retrieved 18 April 2018.
  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. ^ a b c Andrew Bounds, "A discounter’s stores stack up", Financial Times, 17 March 2009
  7. ^ a b c d "Home Bargains About". 7 November 2017. Retrieved 7 November 2017.
  8. ^ a b Andrew Bounds, "Discount retailer TJ Morris breaks through £1bn sales barrier", Financial Times, 14 October 2013
  9. ^ Bill Gleeson, "Merseyside billionaires feature in 2014 Rich List", Liverpool Echo, 18 May 2014
  10. ^ "#1m a year from #85 a week". Liverpool Echo. 7 June 2001. Retrieved 3 October 2015.