Entrepreneur Steve Morgan began amassing his personal fortune of £430 million, to gain ninth position on the City & Guilds Vocational Rich List, by labouring for his father’s small civil engineering company. After gaining an Ordinary National Diploma in civil engineering at Liverpool Polytechnic, Steve proceeded to work with a local civil engineering contractor for two years.
Proving that the Vocational Rich Listers know how to beat economic downturns, Steve’s big break came during the recession of 1974 when his employer decided to pull out of civil engineering, but was stuck with an unwanted £25,000 contract in North Wales. Steve offered to leave the business to complete the job as subcontractor making £5,000 clear profit.
Twenty years later, Steve’s company Redrow was one of the biggest house builders in Britain. Morgan’s latest venture is Harrow Estates which aside from property investments, specialises in buying derelict land, cleaning it up and selling it on. But it is not all business for Steve as in 2007 he was able to indulge his passion for football by paying £10 million to become the new owner of the championship football club the Wolverhampton Wolves.
