Behind Tim Martin's £448million fortune as Wetherspoons' boss' tax bill shared
Tim Martin, the boss behind Wetherspoons, has been named among the UK's biggest taxpayers as it emerged he paid £123 million in tax last year - but few people realise his £448million net worth started with running just one pub.
The much-loved pub chain is known for its cheap food and drink, and is almost always the least expensive drinking venue in town.
Often Wetherspoons redevelops old buildings like banks and post offices, then reopens them with a unique spin, and it is an unexpected hit with real ale fans due to the range of ale it sells.
It employs thousands of people, and in 2020 the chain made a £ 76.6 million profit - which probably makes Tim glad he changed career as initially he was on course to do something completely different.
Tim Martin started his empire with just one pub (PA)What do you think about Wetherspoons? Let us know in the comments...
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The outspoken Wetherspoons boss was born in Norwich in 1955, with a dad who worked for Guinness.
He lived in the UK, New Zealand and Northern Ireland, and went to 11 schools as the family moved around.
Martin then went on to the University of Nottingham and became a barrister in 1979.
But the 6ft6 pub boss never worked as a lawyer. Instead he bought a bookies-turned-pub in London's Muswell Hill in the same year.
For the first month it was called Martin’s Free House, but was renamed Wetherspoons in 1980.
Wetherspoon was the name of one of Martin's teachers, who told him he would never be a success.
Forty years later and it's clear Martin has proved the teacher wrong.
Boris Johnson and Tim Martin were both big supporters of Britain leaving the EU (Getty Images)The company began opening more pubs in north London, and went from there, opening more and more branches around the country.
The company floated on the Stock Exchange in 1992 and became JD Wetherspoon plc.
The 'JD' part of the company name 'JD Wetherspoons' was taken from a character in the US TV series The Dukes of Hazzard.
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The pub chain then went from strength to strength, opening more venues across the country.
In July 1998, Wetherspoons opened 20 pubs in one month - including seven on the same day.
In the year 2000, the 400th branch of Wetherspoons opened, with 500 open by 2001 and 700 by 2008.
Martin (R) pictured with fellow Brexiteer Jacob Rees-Mogg in 2018 (Getty Images)In 2006, the pub chain launched something almost unheard of - free WiFi in every branch, which carries on to this day.
Every branch of Wetherspoons has a different carpet, which is tailored to the location and name of the pub.
Each one is partly handmade, and can cost up to £30,000 per pub.
Part of Martin's approach to running pubs comes from an unlikely source - a 1946 essay written by socialist and author George Orwell.
The essay, called 'The Moon Under Water', lays out what Orwell thinks the ideal pub should be.
The 1984 author says pubs should serve food, not be overpriced - and not play music. Orwell called his imaginary perfect pub 'The Moon Under Water'.
Today, not only do Wetherspoons pubs not play music but many are called The Moon Under Water.
In more recent years Tim Martin has also been one of the country's most vocal supporters of Brexit.
He was one of the few business leaders to speak in support of Brexit - putting him at odds with the majority of other companies.
Using his Wetherspoons magazine to put forward his case for Brexit, the pub group also spent £94,856 on Brexit beer mats and other publications.
The boss also vowed to remove EU drinks from menus - although favourite tipples including Guinness from Ireland has stayed.
He has been married to Felicity Martin for 26 years and lives in Exeter, Devon, with her and their four children.
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