Tom Gores Biography | Wiki
Tom Gores is a popular American billionaire businessman who is the founder, CEO, and Chairman of Platinum Equity. He is also the owner of Palace Sports and Entertainment. As of 2023, Tom’s net worth was estimated at US$6.1 billion. Following college, Tom had a short stint at Continental Telephone prior to helping found a lumber-logistics software firm (Ventech). In 1989, Tom and his wife drove from Michigan to Los Angeles in a used Cadillac to work on the firm’s West Coast operations.
He was first listed on the Forbes 400 list of the richest Americans in 2002. In 2006, Tom led a deal to buy PNA Steel, ultimately selling it to Reliance Steel & Aluminum Co. in 2008 for a net gain of $512 million. In May 2009, Tom bought The San Diego Union-Tribune for an estimated $30 million[5] (the newspaper was marketed in 2011 for $110 million). By 2009, Tom had facilitated in excess of 100 deals via Platinum Equity.
Tom Gores Age
Tom was born on July 31, 1964, in Nazareth, Israel. He is 59 years old. Tom celebrates his birthday on July 31, every year.
Tom Gores Height
He is a man of above-average stature. Tom stands at a height of 5 ft 9 in ( Approx. 1.75m ).
Tom Gores Family
He was born in Nazareth, Israel, the fifth of six children in a practicing Catholic family. Tom is the son of a father of Greek descent and a mother of Lebanese descent. When Tom was around five years old, he and his family left Nazareth and went to reside in Genesee, Michigan located 10 miles northeast of Flint.
Tom’s first job involved stocking shelves at his uncle’s grocery store in Genesee. In 1968, Tom and his older brother Alec, also a billionaire, came to America from Israel with their parents and four other siblings. He and Alec have been included on the Forbes list of the wealthiest people in the globe. His other brother Sam works as the chairman of Paradigm Talent Agency in Beverly Hills, California.
Tom Gores Wife
Tom is married to his wife Holly Gores. The two married in 1995. The couple resides in Beverly Hills, California. Tom and Holly have three children Catherina, Amanda, and Charles. The pair put a house in gated Mulholland Estates near Beverly Hills, Calif., up for market at $10.75 million.
Tom Gores Daughter
Tom has two daughters, Catherina and Amanda. His daughter Catherina bought a $17 million Malibu home.
Tom Gores Son
Tom has a son named Charles Gores. His son Charles was identified with severe food allergies when he was just one year old and had to turn to treatment with EpiPen, a costly yet effective auto-injector providing life-saving relief from signs.
Tom Gores College
While studying at Genesee High School, Tom played defensive back in football, a middle infielder in baseball, as well as a guard in basketball. Following high school, Tom went to Michigan State University, where he served as a janitor and telemarketer to make ends meet. In 1986, Tom graduated with a bachelor’s degree in construction management.
Tom Gores Pistons | Detroit Pistons
Tom had shown interest in buying and was one of the front runners to become the owner of the NBA’s Detroit Pistons following the demise of the long-time owner, Bill Davidson, in 2009. In October 2010, it was announced that then-Detroit Red Wings and Detroit Tigers owner, Mike Ilitch, would buy Detroit’s NBA franchise. But, Following Mike’s exclusive 30-day negotiating period with Bill’s widow (Karen) ended, Tom showed renewed interest. In September 2015, Tom bought Platinum Equity’s stake in the Pistons to become the franchise’s sole owner. He had formerly held a 51% stake while Platinum held 49%.
Platinum Equity Tom Gores
In 1995, Tom founded Platinum Equity in his home in Sherman Oaks. At the outset, Tom cold-called businesses to see if they had any divisions they were searching to offload. Tom got his first project with Litigation Services, Inc. (LSI), a later unprofitable firm that formed computer-generated re-creations of accidents for courtroom proof and testimony. He bought it for $200,000, reorganized some of the corporate structure, and returned it to profitability within six months. In 1996 and 2001, Tom led 32 acquisitions, such as those of Pilot Software, Racal, and Williams Communications. By the next year, Platinum Equity’s portfolio had units of Motorola, Fujitsu, and Alcatel.
Tom Gores Private Jet
His private aircraft emissions surpassed the full carbon emissions of 73 average Americans! Detroit Pistons provided private jet travel and health care for Monty Williams’ wife, who was discovered with breast cancer.
Tom Gores House
In 2016, Tom bought the former Disney Estate, a contemporary-style mansion in the Holmby Hills area of LA. The estate was worth $100 million and was on 3.2 acres of land and is more than 30,000 square feet of interior space with ten bedrooms and twenty bathrooms across both the main and guest house. The house also includes a wine room, lounge, theatre complex, spa, pool, as well as steam rooms.
Tom Gores Alec Gores
Tom has a brother named Alec Gores who is also a billionaire businessman who is the founder and chairman of The Gores Group. Alec has sponsored over a dozen SPACs since 2015 as an early adopter of the blank-check frenzy that exploded in 2020.
Tom Gores Net Worth
Tom gets his wealth from his work as a billionaire businessman who founded a private equity firm headquartered in Beverly Hills named Platinum Equity. Therefore, Tom has accumulated a decent fortune over the years. Tom’s net worth is $6.1 billion.
How Old Is Tom Gores
Tom is a 59-year-old who was born on July 31, 1964, in Nazareth, Israel. Tom celebrates his birthday on July 31, every year.
Is Tom Gores Married
Yes, In 1995 he married his wife Holly and they have three children Catherina, Amanda, and Charles. The two put a house in gated Mulholland Estates near Beverly Hills, Calif., up for market at $10.75 million.
Who Is Tom Gores
He is an American billionaire businessman who founded a private equity firm headquartered in Beverly Hills named Platinum Equity. In June 2011, Tom and Platinum Equity became the owners of the National Basketball Association’s Detroit Pistons. In 2015, Tom became the sole owner.
Tom Gores Social Media Handles
Twitter – @TomGores
Instagram – Tom Gores