Early Life and Education
Tom Gores was born in Nazareth, Israel, on July 31, 1964. His family moved to the United States when he was around five years old, settling in Genesee, Michigan, near Flint. Growing up in a working-class family, he learned the value of hard work, stocking shelves at his uncle's grocery store. He attended Genesee High School and later earned a Bachelor of Science degree in construction management from Michigan State University in 1986.
Rise to Success
Gores began his career at Continental Telephone and later co-founded a lumber-logistics software firm, Ventech. In 1995, he founded Platinum Equity in Beverly Hills, California. The firm focuses on acquiring and improving underperforming companies across various industries. Under Gores' leadership, Platinum Equity has grown to manage approximately $48 billion in assets and has a portfolio of about 40 operating companies.
Key Business Strategies
Gores's business strategy emphasizes identifying undervalued companies and implementing operational improvements to drive value. Platinum Equity has made numerous acquisitions, including Litigation Services, Inc., Pilot Software, and The San Diego Union-Tribune. Gores focuses on swift diligence, effective management, and operational improvements.
Philanthropy
Gores is actively involved in philanthropy and supports various charitable organizations. In 2016, he launched FlintNOW, an organization dedicated to providing relief to residents affected by the Flint water crisis. He has also donated to other Detroit-area organizations, including the Jalen Rose Leadership Academy and S.A.Y Detroit. In 2022, he committed $20 million through the Tom Gores Family Foundation to build a community center in Detroit's River Rouge Park. In 2022 he pledged $100 million to form a national charitable organization.