Tom Gores Net Worth
Tom Gores Net Worth: Tom Gores is an American businessman who has a net worth of $2.9 billion. Tom Gores was born July 31, 1964 in Nazareth, Israel. He is best known as the founder, Chairman and CEO of Platinum Equity, a global private equity firm founded in 1995 with headquarters in Beverly Hills, California. On June 1, 2011, Tom Gores and Platinum Equity became the owners of the National Basketball Association's Detroit Pistons. He has a broad background of acquisitions experience, technological expertise, and operational knowledge and has completed more than 80 transactions at the firm, earning nationwide recognition as a mergers, acquisitions and operations strategist in the competitive acquisitions market. He was an active investor in smaller businesses, where companies often trade principally on their good word and ability to follow through on what they promised. He was also an active investor in startup operations. Gores serves as the Chairman of Merry X-Ray Corporation and has been the Chairman of PNA Group, Inc. since July 2006. He also services on several other boards. In 2010, Platinum Equity was recognized as one of the largest and fastest-growing private companies in America, ranking No. 31 on Forbes' Largest Private Companies list in 2010 and No. 11 on the 2010 and 2011 Los Angeles Business Journal list of LA's Largest Private Companies. In 2011, Platinum Equity rose to No. 23 on Forbes' Largest Private Companies list, due to a 22.4% increase in the firm's revenue. In 2011, Platinum ranked No. 7 on the Los Angeles Business Journal's list of the Largest Private Equity Firms in Los Angeles. Tom Gores supports several philanthropic organizations and serves on the board of trustees for the Los Angeles County Museum of Art (LACMA). In 2011, Gores and Platinum Equity began making a series of donations to San Diego-area causes and institutions, including the San Diego State University School of Journalism and Media Studies, public broadcasting service KPBS, the AVID Center, Junior Achievement and the Classroom of the Future Foundation. Gores and his brother Alec donated $250,000 to Genesee High School in honor of Tom and Julia Joubran's 50th wedding anniversary in 2002. He was named the M&A Pro of the Year by Mergers and Acquisitions magazine. Tom Gores holds a B.Sc. degree from Michigan State University.