How Did Tom Gores Make His Money? The Rise Of A Billionaire

Tom Gores, a successful businessman with a net worth of $9.1 billion according to Forbes, made his fortune in private equity. He formed his firm Platinum Equity Capital in 1995.

Private equity is a type of investment that involves acquiring or investing in companies that are not publicly traded on stock exchanges. Private equity firms, like Platinum Equity Capital, typically pool money from wealthy individuals, institutions, and pension funds to invest in these companies. The goal is to improve the company’s performance and eventually sell it for a profit.

Gores started his career in the auto industry, working for Chrysler in the early 1980s. After leaving Chrysler, he founded Gores Group, a company that focused on investing in distressed companies. In 1995, he established Platinum Equity Capital, which quickly became one of the most successful private equity firms in the world.

Platinum Equity has invested in a wide range of industries, including manufacturing, telecommunications, and healthcare. The firm has a reputation for taking a hands-on approach to its investments, working closely with the companies it acquires to improve their operations and increase their value. Gores’ success in private equity has made him one of the most respected and influential figures in the business world.