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Tom Gores Net Worth

Tom Gores Net Worth

Net Worth: $3.7 Billion

Statistics
  • Source of Wealth Private Equity Owner of the Detroit Pistons
  • Birth Place Nazareth, Israel
  • Marital Status Married (Holly Gores)
  • Full Name Tewfiq Georgious
  • Nationality United States
  • Date of Birth 31 July 1964
  • Ethnicity Israeli
  • Occupation Chairman and CEO of Platinum Equity LLC and Owner of Palace Sports and Entertainment
  • Education Michigan State University (Bachelor of Science in Construction Management)
  • Children 3
More StatsView More

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 and co-founded a software firm. He started the buyout of business with his brother Alec (also a billionaire). Tom later founded Platinum Equity out of his home in 1995 and has since made more than 100 acquisitions. He 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 backyard is a soccer field for one of his daughters.

Tom Gores has an estimated net worth of $3.7 billion as of October 2017, according to Forbes.

Earnings & Financial Data

The below financial data is gathered and compiled by TheRichest analysts team to give you a better understanding of Tom Gores's net worth by breaking down the most relevant financial events such as yearly salaries, contracts, earn outs, endorsements, stock ownership and much more.

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Choose Year
  • Earnings 2011
  • Earnings 2008
  • Earnings 2002
  • Earnings 2001
  • Earnings 1995
Earnings 2011 N/A
Asset Jun. 2011

Purchase value of Palace Sports and Entertainment (PS&E), the parent company of the Detroit Pistons and their former arena, The Palace of Auburn Hills, from Karen Davidson, the wife of the late Bill Davidson

$325,000,000
Earnings 2008 N/A
Earnings Aug. 2008

Accumulated profit of PNA Group

$181,000,000
Sale of Asset Aug. 2008

Sale of PNA Group by Platinum Equity to publicly traded Reliance Steel & Aluminum Co.

$300,000,000
Earnings 2002 N/A
Earning Turned Donation Jun. 2002

Donation to Genesee High School in honor of Tom and Julia Joubran's 50th wedding anniversary

$250,000
Earnings 2001 N/A
Earnings Dec. 2001

Earnings from Platinum Equity's 32 acquisitions

$940,000,000
Asset Sep. 2001

Investments of 32 acquisitions from Platinum Equity

$226,000,000
Earnings 1995 N/A
Asset Jan. 1995

Purchase value of Platinum Equity

$200,000
Show all earnings