Tom Gores Biography
Tom Gores born “Tewfiq Georgios” is an American businessman and investor. He is the Chairman & Chief Executive Officer at Platinum Equity LLC, Chairman at PNA Group, Inc, the Chairman at PNA Intermediate Holding Corp. The chairman at PNA Group Holding Corp.
the Chief Executive Officer at Foresight Software, Inc., and Owner at Detroit Pistons Basketball Co. He founded Platinum Equity in 1995. He serves on the Los Angeles County Museum of Art’s Board of Trustees.
Tom Gores Age
Tom Gores is an American businessman and investor. He is the founder of Platinum Equity, a private equity firm with headquarters in Beverly Hills, California. He was born on July 31st in 1964 Nazareth, Israel. Tom Gores is 55 years old as of 2019.
Tom Gores Wife | Tom And Holly Gores
Gores is a married man, he is married to his wife Holly Gores. The couple lives in Beverly Hills, California with their three children. Tom also has a condo in Birmingham, Michigan.
There is no much information on how they met and where. There is as well no information about him having an affair before he got married. a Michigan native who also graduated from Michigan State has deep roots in the area and both are actively involved in the local community.
Tom Gores Family
He was born to a father of Greek descent and a mother of Lebanese descent. There is no much information about his family having been shared.
Tom Gores Net Worth
Tom Gores is an American businessman and investor. He is the founder of Platinum Equity, a private equity firm with headquarters in Beverly Hills, California. He has an estimated net worth of $5.6 billion USD dollars as of 2019.
Tom Gores Education
Gores got enrolled at Genesee High School where he played as a defensive quoter back in football, a middle infielder in baseball, and guard in basketball.
He later got a scholarship to attend Michigan State University and 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.
Tom Gores Career
He is the founder of the Beverly Hills, California based Platinum Equity LLC in 1995 with the intent to acquire non-core divisions of Fortune 1000 corporations.
Platinum Equity has as well expanded since expanded its investment criteria to include public-to-private transactions and acquisitions from private sellers.
Since its founding, the firm also has acquired more than 130 companies in industries that include technology and IT services, manufacturing, industrials, distribution, transportation and logistics, and equipment rentals.
Platinum Equity was recognized as one of the largest and fastest-growing private companies in America in 2010, having been ranked at position 31 on Forbes’ Largest Private Companies list in 2010 and at position 1st in 2010 and 2011 Los Angeles Business Journal list of LA’s Largest Private Companies.
Platinum Equity as well rose to be ranked at position 23 on Forbes’ Largest Private Companies list, due to a 22.4% increase in the firm’s revenue. In 2011, Platinum having been ranked at position 7 on the Los Angeles Business Journal’s list of the Largest Private Equity Firms in Los Angeles.
Gores was as well featured on the April 2010 cover of Mergers & Acquisitions magazine as its “Pro of the Year.” He was also featured on the 2011 cover of the Summer issue of C-Suite Quarterly with an article titled “Tom Gores On Balancing Family, Business, and The Detroit Pistons.”
Gores and Platinum Equity then bought Palace Sports and Entertainment (PS&E, On 1st of 2011, the parent company of the Pistons and their former arena, The Palace of Auburn Hills, from Karen Davidson, the wife of the late Bill Davidson, He became the third owner in the franchise’s 70-year history.
Basing on Crain’s Detroit Business, the final sale price was $325 million, far lower than expected. It was also a handsome return on Davidson’s original investment; he’d bought the team from founding owner Fred Zollner in 1974 for $6 million.
Soon after Gores and Platinum Equity took ownership, the Pistons made several leadership changes including appointing Dennis Mannion to oversee operations of PS&E and the Pistons and Lawrence Frank as the head coach of the Pistons.
He was as well well the former head coach of the New Jersey Nets, now known as the Brooklyn Nets. Former Pistons star Joe Dumars remained as President of Basketball Operations.
While owing the PS&E and the Pistons have demonstrated an ongoing commitment to the Detroit community through programs that include “Seats for Soldiers,” which as well provides free tickets for PS&E events to U.S. military members and their families, as well as “Come Together,” a program celebrating community service, leadership, and volunteerism throughout Michigan.
Tom Gores House | House Malibu | Mansion
Tom Gores buys Holmby Hills spec house in $100-million deal involving multiple properties
Tom Gores, the chairman, and CEO of Platinum Equity and owner of the Detroit Pistons franchise has taken ownership of a newly built spec home in the Holmby Hills area of Los Angeles in a complex, $100-million deal in which multiple properties changed hands.
As part of the unusual sale, Gores has traded a number of his own Los Angeles-area properties, both developed and undeveloped, for the newly built estate on Carolwood Drive, sources who were not authorized to comment publicly told The Times. He will retain a profits interest in the traded properties, which include two undeveloped parcels totaling 3.2 acres in Bel-Air, to the extent that they are developed or sold.
The 3.2-acre property, once owned by the family of Herbert Kalmus, the co-founder, and president of Technicolor Motion Picture Co., was most recently listed for sale at $47.9 million, according to public record.
The property Gores acquired, a two-plus-acre residence built on the grounds of Barbra Streisand’s former “Mon Rêve” estate, was developed by Gala Asher, who purchased the property as a vacant lot two years ago for $13.25 million. It had been listed for sale since April at $150 million.
Completed this year, the sprawling contemporary-style home offers some 30,000 square feet of interior space with 10 bedrooms and 20 bathrooms spread across the main residence and several guest houses.
The master suite alone takes up 5,300 square feet — approximately twice the size of the average U.S. home — and opens to a heated covered patio.
Other features include a lounge, a wine room and a theater complex complete with a separate valet entrance for guests. A separate spa area boasts a cascading indoor water wall that flows into a lap swimming pool. A hair salon, a manicure/pedicure area, and steam and massage rooms also reside on that level.
Outdoors, lighted trees serve as markers for a private hiking trail. Three swimming pools lie within the grounds, including two outdoor infinity pools.
There is parking for more than 50 vehicles as well as a 10-car garage.
Ginger Glass of Coldwell Banker Previews International was the listing agent. Tiffany Martin and Christine Martin of the Agency represented Gores.
Gores, whose net worth is about $3.3 billion, according to Forbes, founded of the Beverly Hills-based private equity firm Platinum Equity in 1995. The 52-year-old purchased a majority stake in the Pistons in 2011 for $325 million. Last year, he bought out the remaining shares of the team, giving him 100 percent equity in the franchise.
The purchase is just the latest for a storied area that has seen some of L.A.’s biggest home sales over the years.
Also on Carolwood Drive is the grand estate known as Fleur de Lys that sold there two years ago for $88.3 million. The former Walt Disney estate brought $74 million, and this past September, Owlwood, the estate once home to actor Tony Curtis and later Sonny and Cher, sold for $90 million.
Tom Gores Attorney
Gores practices in the area of personal planning. He as well helps clients with personal tax and estate planning issues, trust and estate administration, and corporate fiduciary counseling. His practice includes planning for business owners and families on a multi-generational basis, as well as philanthropy planning and valuation issues.
Tom Gores Forbes | Alec and Tom Gores
Gores had a perch on The Forbes 400 list of richest Americans, with a net worth that FORBES estimates at $2.1 billion in 2016.
From Beverly Hills, Calif., he had private equity firm The Gores Group, which has an estimated $2.5 billion in assets. His brother Tom Gores, who has an estimated $3.3 billion fortune, runs Los Angeles-based private equity firm Platinum Equity and owns the Detroit Pistons.
Their brother Sam Gores is chairman of Paradigm Talent Agency in Beverly Hills. Alec and Tom Gores are two of the 42 immigrants on this year’s Forbes 400 list; FORBES chose to highlight these immigrants to show that the American dream is alive and well.
Tom Gores Twitter
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Tom Gores Private Jets
Oh, to be a billionaire. Private jets, mansions, owning an NBA team…and limitless beverage service courtside.
Detroit Pistons owner Tom Gores made a rare appearance at a game of the team that he owns, but his presence was appropriate considering the franchise-altering trade his team just completed for five-time All-Star Blake Griffin.
On the sidelines, let’s just say that Gores looked like he’d been raising several glasses to toast the new-look team. Gores must have wanted Pistons fans to remember his rare appearance at a game – it’ll certainly be hard to forget after that! The Pistons defeated the Memphis Grizzlies by a 104-102 final in Griffin’s debut.
Bonus Content: Blake Griffin Talks About Coming To Detroit
The Detroit Pistons and the Los Angeles Clippers set the NBA and Twitter worlds on fire Tuesday night when they agreed to a swap for All-Star Power Forward Blake Griffin. It was a move that many believed the Pistons were gambling on, having sent two players and a handful of draft picks to L.A. for Griffin.
Griffin was not in Detroit for the Pistons 125-114 win over the Cleveland Cavaliers Tuesday night, but he arrived via plane to Motown later that evening. Upon touch-down, he was greeted by some reporters that asked about coming to Detroit. Here’s what he had to say:
“This franchise, you know, has a history of tough, hard-working teams, that’s how I was raised, that’s my principle, so being here is an awesome opportunity.
Being in the League, now, seven years…I’ve been fortunate to play with a lot of really good players and learn from them, so hopefully, a little of veteran leadership, steering this team in the right direction, helping lay the foundation, helping the young guys, and just fitting in and doing as much as I can.
We’re going to be a hard-nosed team, we’re going to play really really hard, and I’m incredibly excited. I love this fan base, the energy has been awesome, already, in just august 20. 2019 The Detroit Pistons could be among the teams willing to potentially take a chance on five-time NBA All-Star John Wall. According to Bleacher Report’s Greg Swartz, a Wizards/Pistons trade makes sense: “Detroit makes sense as a suitor since it is not projected to have much cap space next summer tot 24 hours. So, I’m super excited to be here and ready to be at that first game.”