Alec Gores

Alec E. Gores (born 1953) is an American billionaire businessman, who made his fortune through leveraged buyouts of technology firms at the firm Gores Group.

Alec Gores
Born1953 (age 67–68)
Nazareth, Israel
NationalityAmerican, Israeli
Alma materWestern Michigan University
OccupationBusinessman
Net worthUS$2.2 billion (June 2019)[1]
Spouse(s)Lisa (div.)
Kelly Noonan (m. 2016)
Children5
FamilyTom Gores (brother)
Sam Gores (brother)

Early life

Alec Gores was born in 1953 in Nazareth from a Catholic family, the son of a Greek father and a Lebanese mother.[2][3] He was raised in Flint, Michigan, and attended Genesee High School in Genesee, Michigan. He then obtained a degree in computer science from Western Michigan University.[4][5] He is the brother of Tom Gores, founder of Platinum Equity,[6][7] and Sam Gores, the head of Paradigm Talent Agency.[8]

Career

In 1978, he founded Executive Business Systems with $10,000, selling computers out of his basement. By 1986 the company employed over 200 people and was acquired by CONTEL for approximately $2 million.[9]

Following the acquisition, Gores began acquiring and operating non-core businesses from major corporations. He eventually founded The Gores Group, a private equity firm in 1987[10] and since then has acquired 80 companies over 25 years.[1]

Gores and his brother Tom have been involved in a number of deals together including the 2011 acquisition of Alliance Entertainment, which distributes DVDs, CDs and video games to stores such as Barnes & Noble, Amazon.com and Target.[11]

In 2020, Forbes ranked Gores No. 391 on the Forbes 400 list of America's wealthiest people.[12]

Personal life

As of 2009, Gores is a practicing Catholic.[13]

Gores has five children: Rochelle Gores Fredston, Eric Gores, Lauren Gores Ireland, Alexa Gores, and Gavin Gores. He is married to Kelly Noonan Gores. He has a former wife, Lisa.[14]

In November 2012, he lost $17.4 million to gambler JP McManus in a three day backgammon session.[15]

See also
  • List of largest houses in the Los Angeles Metropolitan Area

References
  1. "Forbes profile: Alec Gores". Forbes. Retrieved 7 June 2019.
  2. "Tom Gores: Balancing Family, Business, and the Detroit Pistons". CSQ Magazine.
  3. "Letters". San Diego Reader. 2009-05-20. Retrieved 2011-09-25. For the record, my mother is of Lebanese descent, and my father was of Greek descent. We were raised and are still practicing Catholics
  4. "Bagging Groceries To Bagging Billions: How Immigrant Alec Gores Achieved The American Dream". Forbes.
  5. "The Gores Group, LLC - Team". Gores.com. Archived from the original on July 24, 2011. Retrieved 2011-06-09.
  6. "Billionaires, buyouts and basketball: The Gores brothers take on private equity". Pitchbook.com.
  7. "Platinum Equity". www.platinumequity.com.
  8. Bannon, Lisa (April 9, 2002)."Gores Brothers Jockey for Same Deals In Grown-Up Game of Sibling Rivalry". The Wall Street Journal.
  9. "The Gores Group History". www.gores.com.
  10. "The Gores Group, LLC - Team". Gores.com. Archived from the original on July 24, 2011. Retrieved 2011-06-09.
  11. "The Mystery Bidder for Borders: Meet Alec Gores". The Wall Street Journalt. June 1, 2011. Retrieved April 18, 2013.
  12. "THE RICHEST PEOPLE IN AMERICA (Forbes 400 list)". www.forbes.com. Retrieved 2020-09-18.
  13. "Letters". San Diego Reader. 2009-05-20. Retrieved 2011-09-25. For the record, my mother is of Lebanese descent, and my father was of Greek descent. We were raised and are still practicing Catholics
  14. Mark David (April 23, 2007). "Do You Know Who Lisa Gores Is?". Variety. Retrieved December 6, 2014.
  15. "'You've just got to be lucky' - How JP McManus won €15m in a board game with US billionaire". Independent.ie. Archived from the original on 2020-10-14. Retrieved 2016-05-08.
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