Early Life
Tom Golisano was born Blase Thomas Golisano on November 14, 1941, in Rochester, New York. His father was a barber, and his mother was a homemaker. Golisano attended the State University of New York College of Technology at Alfred, where he earned an Associate in Arts/Science degree. Growing up, Golisano witnessed his father being treated poorly at his job, which motivated him to create a business that valued its employees.
Rise to Success
Golisano founded Paychex in 1971 with just $3,000 and a credit card, envisioning an accessible payroll solution for small businesses. He served as President and CEO of Paychex until October 2004 and has been Chairman since October 1, 2004. Paychex grew rapidly through franchise agreements and joint ventures, going public in 1983. By 2024, Paychex employs over 16,000 people and has revenue of over $4 billion, serving more than 700,000 businesses. Beyond Paychex, Golisano purchased Greenlight Networks, a fiber internet provider in 2018, which he later sold in 2022. He also owned the Buffalo Sabres and Buffalo Bandits, demonstrating his passion for professional sports.
Key Business Strategies
Golisano’s key to success was identifying a niche: providing payroll services to small businesses. He focused on making payroll outsourcing simple and affordable, especially for businesses with fewer than 100 employees. Furthermore, he prioritized creating a positive work environment, a strategy learned from his childhood experiences. Golisano's leadership style emphasized delivering services efficiently and effectively to a large number of companies.
Philanthropy
Golisano is a dedicated philanthropist, having pledged or donated over $300 million to various causes. He founded the B. Thomas Golisano Foundation in 1985, which supports organizations aiding individuals with intellectual and developmental disabilities. His philanthropic efforts include significant contributions to hospitals, educational institutions, and the Special Olympics. In September 2024, he announced $360 million in grants to 82 nonprofits.