Early Life and Education
Tom Gores was born Tewfiq Georgious on July 31, 1964, in Nazareth, Israel. His family emigrated to the United States when he was around five years old, settling in Genesee, Michigan, near Flint. Growing up in a working-class family, Gores learned the value of hard work and entrepreneurship early on. He attended Genesee High School, where he participated in football, baseball, and basketball. After graduating, he pursued higher education at Michigan State University, earning a Bachelor of Science degree in construction management in 1986.
Rise to Success
After graduating from Michigan State, Gores had a short stint at Continental Telephone before founding a lumber-logistics software firm, Ventech. In 1995, he founded Platinum Equity in Sherman Oaks, California. Gores began his private equity career by cold-calling businesses to find divisions they wanted to sell. His first successful acquisition was Litigation Services, Inc., which he turned around within six months. He would go on to lead numerous acquisitions, building a reputation for executing large transactions. Platinum Equity quickly became a leading private equity firm, recognized for its ability to improve operational efficiency and create value within its portfolio companies.
Key Business Strategies
Gores' success stems from his strategic approach to private equity, focusing on operational improvements rather than financial engineering. Platinum Equity's strategy combines traditional M&A with operational insight, identifying and improving underperforming companies. The firm has made numerous acquisitions across various industries. Gores emphasizes swift diligence, sound acquisitions, effective management, and operational improvement.
Philanthropy
Tom Gores is actively involved in philanthropy. He launched FlintNOW in 2016 to support residents of Flint, Michigan, affected by the water crisis, and has contributed to numerous charitable organizations. Gores and his wife Holly, have partnered with Toys for Tots to distribute toys to children in Detroit and Flint. He has also donated to The Salvation Army Downriver Corps. In 2022, Gores pledged $100 million to form a national charitable organization.
