Net Worth: $3.3 Billion
- Source of Wealth private equity,Owner of Detroit Pistons
- Nationality United States
About Tom Gores
The private equity chief is among the group of tycoons vying for ownership of the NBA’s Detroit Pistons.He paid his way at Michigan State by telemarketing; cofounded software firm. Started buyout business with brother Alec (also a billionaire); later founded Platinum Equity out of his home in 1995; has since made more than 100 acquisitions. Buys underperformers with good assets. “You can’t control the market. You can control your company.”
Tom Gores was born in Nazareth, Israel to a Lebanese mother and a Palestinian father.His father owned a construction company.In 1968, the family moved to Genesee, Michigan.While a student at Genesee High School, Gores played defensive back in football, middle infielder in baseball and guard in basketball.He received a scholarship to attend Michigan State University,where he graduated in 1986 with a Bachelor of Science degree in construction management.He spent his twenties learning the buyout business with his older brother Alec.
Gores lives in Beverly Hills with his wife and three children. He also has another house in Grosse Ile Michigan.The house next door to him was for sale and he bought it and connected the 2 houses with a gate. In the back yard is a soccer field for one of his daughters.
Tom Gores has an estimated net worth of $3.3 billion as of April 2016, according to Forbes.