From Single Store to Retail Empire: The Tom Morris Success Story

The Scouser who built Home Bargains has just pocketed a substantial £66 million dividend, marking another milestone in his retail dynasty. Tom Morris, the 71-year-old entrepreneur behind discount retail chain Home Bargains, secured this significant payout through TJ Morris Group, according to recently disclosed financial documents. This follows a previous £1.2 billion dividend extraction from a subsidiary in 2024, underscoring the tremendous profitability of his business operations.

Business Boom Drives Financial Rewards

Home Bargains demonstrated robust performance in its latest trading period, with revenue surging to £4.5 billion—up from £4.2 billion—while profits climbed to £523 million, compared to £454 million previously. These figures provide the foundation for Morris’s personal wealth accumulation, as he maintains a 90% stake in the parent company, with remaining shares held through family trust structures.

The retailer’s expansion strategy continues at pace. With 632 stores now operating across the UK (up from 617 in the prior year), Morris has set an ambitious target of reaching between 800 and 1,000 locations. The southern England market represents the current growth frontier for Home Bargains, which competes directly with B&M and Poundstretcher by offering branded products at discounted prices across categories ranging from toys to homeware and garden merchandise.

The Wealth Behind the Brand

Morris’s accumulated fortune, largely derived from Home Bargains operations, has positioned his family among Britain’s wealthiest, with combined assets estimated at approximately £7 billion according to the Sunday Times Rich List. Beyond business profits, his personal portfolio reflects substantial wealth accumulation: a $50 million Bombardier Global 5000 private jet (registration M-ORIS), a $45 million superyacht named Moskito, and a $10 million Bell 429 VIP helicopter demonstrate the scale of his personal spending power.

From Single Store to National Chain

Morris’s entrepreneurial journey began modestly. Born to a Liverpool shopkeeper and one of seven siblings, he founded Home Bargains in 1976 with a single store in east Liverpool. His brother Joseph now serves as operations director, keeping the business within family hands. The business model—offering value through bulk buying and strategic discounting—proved remarkably resilient, eventually creating one of Britain’s largest privately-held retail operations.

Political Connections and Influence

As a Labour Party supporter, Morris has directed financial contributions toward key political figures. In 2023, he donated £5,000 to Wes Streeting ahead of the general election, and the Health Secretary has since emerged as a potential future leadership contender amid party concerns about other senior figures’ polling performance. Earlier, in 2017, Morris contributed £10,000 supporting Steve Rotherham’s successful campaign for Liverpool’s metro mayor position.

One notable controversy surrounded Home Bargains during the pandemic period, when the company attracted criticism for retaining government support funds rather than returning them, a decision that drew public scrutiny at the time.