Tom Gores oversees more than 40 companies with some $26 billion in assets through his Los Angeles-based private equity firm, Platinum Equity. The Gores family moved from Israel to Michigan when Tom was four. In his youth, he stocked shelves at his father's small grocery store in Flint. His brother, Alec, is also a private equity billionaire. Tom and Alec spent their 20s learning the buyout business together before splitting in 1995. In January 2020, Platinum closed on its largest fund to date, raising a higher-than-expected $10 billion from investors. In 2011 Gores and Platinum bought the NBA's Detroit Pistons. In August 2015 he purchased Platinum's stake, giving him 100% of the team's equity. Gores bankrolled a new $90 million headquarters and training center for the Pistons. It opened in September 2019.
