We continue to introduce our readers to famous and successful people from Liverpool. Today, we’re going to talk about the success story of the renowned English businessman, investor, and philanthropist, Steve Morgan. Read more about it at liverpool1.one.
About the Businessman
Steve was born in Liverpool in 1952. The future businessman changed schools nine times but eventually completed his education at Rydal School in Colwyn Bay and Liverpool Polytechnic.
When he was 21, he started working at Wellington Civil Engineering. The company was on the verge of bankruptcy, but it was offered a new project to lay a sewer in Penley, Wales. Morgan took on the project himself. Subsequently, the company began to grow and shifted its focus to housebuilding.
In the 1990s, he began investing in hotels, including St David’s Park Hotel, Carden Park, and the De Vere Group.
Business Growth and a Love of Sport
In 2001, the businessman founded his own company, Harrow Estates plc. A year before that, he had left his position as chairman of the board at Redrow. However, nine years later, Redrow’s shares began to fall, and Morgan was asked to return to the board of directors. He reoriented the company’s focus towards building family homes, and the business began to grow rapidly. In 2019, he finally retired, leaving Redrow with excellent financial results: annual revenue had increased more than sevenfold compared to the figures from 2009.
The businessman is known for his passion for football. He even tried to buy Liverpool FC on several occasions.
In 2007, Morgan finally acquired a football club, but it was Wolverhampton Wanderers, not Liverpool. Interestingly, the businessman bought the club for a nominal fee of £10, but on the condition that he would invest £30 million into the club.
In 2015, he sold the football club for a reported £30 million. However, he also stipulated a condition—that the new owner would invest a further large sum into the football club.
The Famous Businessman’s Philanthropic Work
Back in 2001, the businessman founded the Steve Morgan Foundation. The magnate has donated over £300 million to the Foundation’s development. It is worth noting that the Steve Morgan Foundation has provided support to 650 charities and has also made a significant donation to diabetes research in the country.
When the COVID-19 pandemic began in Great Britain, the businessman pledged to provide £1 million a week to charities. He aimed to help the most vulnerable sections of the population during this difficult period for every Briton. In total, Morgan donated over £27 million to charities during the pandemic.
It should be added that these are not his only charitable acts. The Morgan Foundation has provided dozens of adapted minibuses to support people with disabilities. The businessman also initiated the creation of ‘The Way’ Youth Zone in Wolverhampton, donating £2 million to the cause. There has also been help for those affected by Hurricane Irma and funding for the construction of cancer centres, among other things.
Regarding his personal life, Steve Morgan has been married three times. He has two sons and a daughter from his previous marriages.
Steve Morgan is a renowned English businessman and philanthropist. His Foundation has helped countless British families. We have described just a few interesting facts from Morgan’s life. We hope you found this article informative and learned something new about this distinguished local figure.