Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 444 Tom Gores $5.08B

Random fact: Older brother hired a PI on suspicions Gores was involved with his wife.


Gores is founder and chief executive officer of Platinum Equity, the private equity outfit whose investments have included air cargo handler Worldwide Flight Services and out-of-home advertiser Exterion Media. The billionaire, who founded the closely held Los Angeles-based firm in 1995, is the owner of basketball team Detroit Pistons.

As of :
Last change No change
YTD change +$425M ( +9.1%)
Industry Finance
Biggest asset Platinum Equity
Citizenship United States
Age 56
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Tom Gores's net worth of $5.08B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Gores is the majority owner of closely held Platinum Equity, the Los Angeles-based private equity firm he founded in 1995, whose holdings have included Exterion Media and Worldwide Flight Services, according to press releases. He's credited with a 75% stake based on a Bloomberg analysis of the firm's March 2019 ADV filing with the U.S. Securities and Exchange Commission. 

The company is valued using the $7 billion valuation that peer firm Vista Equity Partners received when it sold a minority stake in July 2017, adjusted to account for the growth in AUM since and discounted to reflect the lower level of assets that Platinum Equity manages in comparison to Vista.

Gores also owns the Detroit Pistons NBA franchise, whose value is based on a Bloomberg analysis of recent transaction values for similar teams and discussions with sports valuation consultant Marc Ganis. Gores is the sole owner of the Pistons, according to a September 2015 article by Bloomberg News. 

The billionaire has personally invested about $700 million into Platinum Equity buyout funds, according to disclosures made by Los Angeles City Employees' Retirement System, a limited partner. His cash holdings are calculated by applying the cumulative internal rate of return of Platinum Equity's funds, as disclosed by LACERS, to his initial investments, and adjusted for typical market returns since June 25, 2019. The cost of buying the Pistons, his investments into Platinum Equity funds and the purchase price of other assets are netted off from this balance.

Mark Barnhill, a partner at Platinum Equity, declined to comment on Gores' net worth.


Birthdate: 7/31/1964
Family: Married, 3 children
Education: Michigan State University

Gores was born to Catholic parents in Nazareth, Israel in 1964. At age four, he moved with his family to Flint, Michigan, where he worked alongside his father at a small grocery store, according to a January 2016 Michigan Live article.

Gores graduated from Michigan State University with a Bachelor of Science in 1986. Early in his career, he began investing in small businesses, according to his personal website. He founded private equity group Platinum Equity in 1995. The firm acquired Exterion Media from CBS Corp. in 2013, and bought Worldwide Flight Services from a French private equity firm in 2015.

Gores, along with Platinum Equity, bought the Detroit Pistons in 2011. The firm made its exit in 2015, with the billionaire taking full ownership.

Gores lives in Beverly Hills, California with his wife and children. His older brother, Alec Gores, is the billionaire founder and CEO of The Gores Group, a private equity firm also based in Beverly Hills. They often compete for deals though sometimes join forces, as with their joint acquisition of Alliance Entertainment in 2011.

  • 1964 Gores is born in Nazareth, Israel.
  • 1968 Emigrates to Flint, Michigan with his family.
  • 1995 Founds private equity firm Platinum Equity.
  • 2011 Buys Detroit Pistons with Platinum Equity.
  • 2013 Acquires Exterion Media from CBS Corp.
  • 2015 Secures full ownership of the Pistons.
  • 2015 Buys Worldwide Flight Services.
  • 2016 Announces bid to raise $10 million for Flint water crisis.