In 1974, aged 21, Morgan borrowed £5,000 from his father to buy Wellington Civil Engineering, which was on the verge of going out of business.
That investment was the first step in a business career which peaked in the formation of housing giant Redrow.
He quit Redrow in 2000 and has cashed in shares worth £198m in the family homes company.
He still owns a £50m stake in the firm which he floated in 1994, and is rated at 137th in the British Rich List, with a reputed £312m fortune.
That fortune has been boosted by his hotel interests - during the 1990s he built up St David's Hotels, before cashing in five years ago.
He retains a £68m holding in De Vere hotels, who, in 1999, bought his two major hotels - St David's Park Hotel in north Wales, and Carden Park Hotel, near Chester - and is now a major shareholder in the hotel chain.
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