Building a Business Without Limits
About Tom Gores
Tom Gores founded Platinum Equity in 1995 and his guidance, core philosophies, and strong principles drive the strategic development and direction of both Platinum and its portfolio, as well as his ownership of the NBA’s Detroit Pistons.
Tom Gores Early Career
Early in his career, Mr. Gores was an active investor in smaller businesses, where companies often trade principally on their good word and ability to follow through on what they promise. Here he developed his principles of empowerment, hard work, and integrity. As he delivered on commitments made to deal partners, investment bankers, and lenders, Mr. Gores’ ability to execute larger and larger transactions grew exponentially, making Platinum Equity one of the premiere private equity firms in the world, being recognized as one of Forbes “Largest Private Companies” within just 4 years of its founding.
Building a Business Without Limits
Believing that a team of outstanding people could meet almost any challenge, Mr. Gores began selecting the best and brightest he came in contact with to join him. The result is the Partners and Principals who lead Platinum Equity today. This top echelon of Platinum’s executive corps averages 12 years of tenure with the 17-year-old firm. Strong relationships, trust in people, and open communication remain key to Tom’s and Platinum’s momentum.
Business Strategy
When it comes to his business, Mr. Gores applies philosophies of swift and thorough diligence, sound acquisitions, effective management, and driving value through honest, intelligent operational improvement rather than financial engineering. M&A&O®, his pioneering vision of combining traditional M&A with operational insight, was the direct result of the combination of these philosophies.
Recognition
Top business publications have recognized Platinum as one of the most important private companies in America, most recently ranking 27th on the 2010 Forbes list of America’s Largest Private Companies, #1 on the 2010 Los Angeles Business Journal list of LA’s Largest Private Companies, and #5 on the 2010 LABJ list of LA’s Largest Private Equity Companies. Mr. Gores appears on both the Forbes list of the World’s Billionaires as well as the Forbes list of Richest Americans, and is among the youngest individuals ever to appear on either. He was named 2009 M&A Pro of the Year by Mergers & Acquisitions magazine. Download the article (pdf).
Personal Life
Currently 49 years old, Mr. Gores resides in Beverly Hills with his wife and children. When not serving in his role as Chairman and CEO of Platinum, Tom is on either a soccer field or a basketball court coaching youth teams, applying the same principles of hard work and inspiration that he does to his business. Mr. Gores holds a Bachelor of Science degree from Michigan State University.