Sunday Times Rich List 2022: Who is Liverpool billionaire Home Bargains owner Tom Morris, net worth & age?

The Sunday Times Rich List for 2022 has finally been published.

Despite the worst cost of living crisis in Britain for over 40 years, the country’s super-wealthy have accumulated even more cash.

The most notable names listed include Rishi Sunak - who was named the richest serving MP in history - and ex-Chelsea FC owner Roman Abrahmovic who has lost around £6 billion over the last 12 months.

Billionaires from specific regions, such as the North West, have been identified - but do Liverpool have any representatives?

Here is everything you need to know about the list, as well as Merseyside’s own Tom Morris.

What is the Sunday Times Rich List?

The Sunday Times Rich List is a list of the top 1,000 wealthiest people or families in the United Kingdom.

This list is updated on an annual basis and is usually released every April - but in 2022, the latest list was released on Friday, 20 May.

It is also published as a magazine supplement for British national newspaper The Sunday Times.

Who is Home Bargains owner Tom Morris?

As per the official Sunday Times Rich List 2022, the fourth richest individual or family from the North West of England is Liverpool’s own Tom Morris.

Mr Morris is the founder of TJ Morris (1976), the company which owns discount retailer Home Bargains - of which there are over 480 branches across the country.

Home Bargains is known for stocking everything from health and beauty products to sweets and toys.

The 68-year-old self-made billionaire is one of seven children of a Liverpool shop keeper on Scotland Road, growing up and now residing in the Merseyside area.

Well educated and carrying a degree in engineering, Mr Morris established his discount retail empire when he was 21 years old in 1976, establishing Home Bargains using his bank overdraft.

Morris owns 89% of the business, the rest is owned by four of his brothers.

As a person who greatly guards his privacy, Tom Morris is currently married and has at least one child, his daughter Lisa.

How much does the Sunday Times say he is worth?

According to this year’s Sunday Times Rich List, Tom Morris and his family are ranked in fourth position in the North West.

Describing the source of his wealth as ‘Discount stores: Home Bargains’, the information notes that Mr Morris’ wealth is valued at £5.127 billion.

Compared to last year’s list, Tom Morris’ family fortune is £766 million richer.

Who is the wealthiest person or family in the United Kingdom?

Topping the standings and officially the richest individual or family throughout the entirety of the UK is Sri and Gopi Hinduja.

The pair run Mumbai-based conglomerate Hinduja Group, which owns various businesses in oil, chemicals, banking, real estate, automotive, chemicals, IT and media.

Wealth that is estimated to have grown by well over £11 billion over the last year, rocketing them to a table-topping £28.72 billion worth.

How does the Sunday Times calculate the wealth of an individual or family in the UK?

The list is based on an individual or family’s net worth, also referred to as identifiable wealth.

This includes assets such as land, property, art, shares in publicly quoted companies and various other factors.

Bank accounts do not factor into the process as The Sunday Times has no access to them.

Net worth also takes into account any outstanding liabilities.