I dropped out of school aged 14 & shared one room with my 7 siblings… now I’m one of the richest men in Britain
A BOY who dropped out of school at 14 is now one of Britain’s richest men – and his empire is worth an eye-watering £600million.
John Hargreaves grew up sharing a bedroom with his seven siblings in a cosy terraced Liverpool home.
Born in 1944 to a dock labourer, he experienced humble beginnings in Everton – a far cry from the luxury Monaco palace he now resides in.
In a previous interview with Drapers, John admitted: “I don’t know anything about business; I’ve just learnt as I’ve gone along.
“But I’ve always had good people around me and I think that is critical.”
At just 14-years-old, he abandoned his education and started working in Great Homer Street Market.
The plucky young lad had an eagle-eye, snapping up retail items being sold at a lower price due to small faults, and selling them to make profit.
This nifty skill landed him a job at Marks & Spencer, through which he proved his worth.
John bagged himself a collection of kiosks at the bustling street market, and worked his way up from there.
Incredibly, the hard-working teen’s entrepreneurship saw him opening the Jaymax brand of shops by the time he was in his 30s.
Within the next decade he went international – which proved to be one of his best business moves.
While he was visiting the States, he noticed huge discount warehouse shops were raking in wads of cash from happy shoppers.
This is what inspired John to open the now famous store, Matalan, in 1985.
The Preston retail outlet was the first of 220 to open, and now the chain employs 16,000 people.
John Hargreaves’ success saw him on the 2019 Sunday Times Rich List, when it was estimated his family were worth up to £600million.
He married when he was just 19, and has three children, Jason, Jamey, and Maxine.
Now, the successful businessman lives lavishly in a Monaco mansion with his wife.
In 2007 he made the bold move to step down from his position as chairman of Matalan.