Hulton was the illegitimate son of Sir Edward Hulton, 1st Baronet, a newspaper publisher and racehorse owner originally from Manchester, and his second wife, the music hall artist Millicent Warris also known by the stage name Millie Lindon. Educated at Harrow School, Hulton went up to Brasenose College, Oxford in 1925 but left in December 1926 without a degree.