Billionaire who supports Labour awards himself £66 million

Tom Morris: The Rise of a Retail Billionaire

Tom Morris, a prominent entrepreneur from Liverpool and a supporter of the Labour Party, has awarded himself and his family a £66 million dividend as his discount retail chain, Home Bargains, embarks on significant growth.

Often referred to as “the wealthiest Scouser in history,” Morris received this payout from his business, TJ Morris Group, as revealed in recently released financial statements.

At 71, Morris capped off a successful year with Home Bargains, as the company’s revenue climbed from £4.2 billion to £4.5 billion and profits increased from £454 million to £523 million.

This latest dividend comes after an even larger £1.2 billion payout from TJ Morris Ltd, a subsidiary, which he collected in 2024. Morris personally holds 90% of the parent company’s shares, with the remainder managed by family trusts.

Home Bargains is known for offering well-known brands at low prices, selling a wide variety of products—from discounted toys to home goods and garden supplies—competing with retailers like B&M and Poundstretcher nationwide.

By the end of last June, the chain operated 632 stores, up from 617 the previous year, and aims to reach between 800 and 1,000 locations, with its newest expansion efforts focused on southern England.

The remarkable growth of Home Bargains has made Morris one of the wealthiest business figures and major taxpayers in the UK, with his family’s combined fortune estimated at nearly £7 billion, according to the Sunday Times Rich List.

Morris’s personal assets include a Bombardier Global 5000 private jet valued at $50 million (with the registration M-ORIS), a $45 million luxury yacht named Moskito, and a $10 million Bell 429 VIP helicopter.

Born into a family of seven children to a Liverpool shopkeeper, Morris launched Home Bargains with a single store in east Liverpool in 1976. His brother Joseph currently serves as the company’s operations director.

In recent years, Morris has contributed financially to the Labour Party, donating thousands of pounds to the campaigns of key party members, including Wes Streeting.

In 2023, he gave £5,000 to Wes Streeting, now the Health Secretary, ahead of the general election the following year.

Streeting has since become a potential candidate for Labour leadership and prime minister, as concerns grow within the party over Sir Keir Starmer’s declining poll numbers.

Back in 2017, Morris also donated £10,000 to support Steve Rotherham’s successful bid to become Liverpool’s metro mayor.

Previously, Morris faced criticism for not returning government support funds that Home Bargains received during the Covid-19 pandemic.