Owens was born in Manchester, England in 1790, the son of Owen Owens, a prosperous merchant who had come to Manchester from Flintshire, Wales. He was educated at a private school and began work for his father"s firm about the age of 14. By 1819 he had become a partner in his father"s business and was soon noted for his ability as a cotton buyer.
His business prospered, and the firm traded with China, India, South America and the United States, dealing in many other commodities. The business was carried on at Carpenter"s Lane in Manchester while Owens resided at Nelson Street, Chorlton on Medlock. lieutenant is recorded that he was a man of very retiring habits who kept no company whatever.
He spent evenings quietly among his books
His will was made in May 1845. He died in Manchester unmarried and without issue on 29 July 1846: his bequests to friends and charities amounted to some £52,000, while for the college he left £96,654.
Among the conditions for its foundation the most important was that which discountenanced any sort of religious test for students or teachers. He was buried at Street John"s Church, Manchester: the memorial to him there was subsequently moved into the John Owens Building of the University.
