How Tom Morris Built a £7 Billion Retail Empire From a Single Liverpool Store

The founder of Home Bargains, Tom Morris, has recently collected a substantial £66 million dividend payment, reflecting the continued financial success of his discount retail operation. At 71 years old, Morris reinforced his position as one of Britain’s most successful entrepreneurs with this latest payment from TJ Morris Group, marking another chapter in an extraordinary business journey that began nearly five decades ago.

From Single Store to 632-Strong Chain

Home Bargains has undergone remarkable expansion in recent years. The retail chain now operates 632 locations across the UK, up from 617 in the previous period, with ambitious plans to eventually establish between 800 and 1,000 stores nationwide. This expansion strategy has proven particularly aggressive in southern England, where the company continues to penetrate new markets.

The financial performance underpinning this growth speaks volumes. Last year, the company generated £4.5 billion in revenue, climbing from £4.2 billion previously, while operating profits surged to £523 million compared to £454 million in the prior year. These figures demonstrate the durability of the discount retail model in today’s market environment.

The Wealth Equation: Assets and Ownership

Morris maintains effective control of his empire, personally holding 90% of his parent company’s shares, with remaining stakes managed through family trusts. His personal wealth, estimated at nearly £7 billion when combined with family holdings according to the Sunday Times Rich List, extends well beyond the business itself.

His substantial net worth translates into a lifestyle befitting a self-made billionaire. Morris owns a $50 million Bombardier Global 5000 jet bearing the personalised registration M-ORIS, a $45 million motor yacht christened Moskito, and a $10 million Bell 429 VIP helicopter—a collection of assets underscoring the scale of his financial achievements.

From Shopkeeper’s Son to Retail Pioneer

The roots of Morris’s success run deep in Liverpool’s commercial culture. Born into a family of seven children whose father ran a retail shop, Morris launched Home Bargains in 1976 with a single store in east Liverpool. His brother Joseph continues to play an operational role as the company’s director of operations, keeping the venture a family-led enterprise despite its massive scale.

Home Bargains operates in a competitive landscape dominated by retailers offering similar value propositions—including B&M and Poundstretcher. The company’s differentiation lies in its curated selection, stocking everything from discounted branded toys and household goods to garden supplies at prices designed to appeal to budget-conscious consumers.

Political Engagement and Public Philanthropy

Beyond his retail operations, Morris has emerged as a significant financial contributor to the Labour Party political establishment. In 2023, he donated £5,000 to support Wes Streeting’s campaign, before Streeting ascended to the Health Secretary position. Streeting has since become a prominent figure within Labour circles, with some party observers positioning him as a potential leadership contender amid questions surrounding current polling data for party leader Sir Keir Starmer.

Earlier political involvement saw Morris contribute £10,000 toward Steve Rotherham’s successful campaign to become Liverpool’s metro mayor in 2017, demonstrating sustained engagement with regional political matters.

It’s worth noting that Morris faced public scrutiny during the Covid-19 pandemic, when Home Bargains retained government support funding rather than returning it, attracting criticism from observers questioning corporate responsibility during the crisis period.

The Bigger Picture: Scale and Significance

The £66 million dividend represents merely the latest distribution in a series of substantial payouts. Morris previously collected £1.2 billion from TJ Morris Ltd in 2024, underscoring the extraordinary cash generation capability of his retail operation. These figures position Tom Morris among Britain’s highest-earning business proprietors and most significant private tax contributors, with his wealth creation story epitomizing the potential returns available within the discount retail sector.