Alec Gores
Encyclopedia
Alec E. Gores is an American businessman who made his fortune through leveraged buyout
s of technology firms. His personal wealth was estimated at roughly $1.5 billion by Forbes magazine in 2008.
, Israel
to a Greek father and Lebanese mother.. He was raised in Flint, Michigan
and attended Genesee High School in Genesee, MI. He then obtained a degree in computer science from Western Michigan University
.
He is the brother of similarly wealthy financier Tom Gores
and Paradigm Talent Agency head Sam Gores
as well as the father of Eric Gores
.
Following the acquisition, Gores began acquiring and operating non-core businesses from major comporations. He eventually founded The Gores Group
, a private equity firm.
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
s of technology firms. His personal wealth was estimated at roughly $1.5 billion by Forbes magazine in 2008.
Early life and education
Alec Gores was born in NazarethNazareth
Nazareth is the largest city in the North District of Israel. Known as "the Arab capital of Israel," the population is made up predominantly of Palestinian Arab citizens of Israel...
, Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
to a Greek father and Lebanese mother.. He was raised in Flint, Michigan
Flint, Michigan
Flint is a city in the U.S. state of Michigan and is located along the Flint River, northwest of Detroit. The U.S. Census Bureau reports the 2010 population to be placed at 102,434, making Flint the seventh largest city in Michigan. It is the county seat of Genesee County which lies in the...
and attended Genesee High School in Genesee, MI. He then obtained a degree in computer science from Western Michigan University
Western Michigan University
Western Michigan University is a public university located in Kalamazoo, Michigan, United States. The university was established in 1903 by Dwight B. Waldo, and as of the Fall 2010 semester, its enrollment is 25,045....
.
He is the brother of similarly wealthy financier Tom Gores
Tom Gores
Tom Gores is an American billionaire with an estimated current net worth of $2.4 billion dollars. He appears on the Forbes list of 2011 World's Billionaires. On June 1, 2011 he became the owner of the Detroit Pistons.-Biography:...
and Paradigm Talent Agency head Sam Gores
Sam Gores
Sam Gores is the Chairman of Paradigm Talent Agency located in Beverly Hills, California. His clients include Laurence Fishburne, Andy García, Academy Award Winner Philip Seymour Hoffman, The Black Eyed Peas, and Katherine Heigl....
as well as the father of Eric Gores
Eric Gores
Eric Gores is the son of businessman Alec Gores and former neighbor of actor Tom Arnold. In 2005, Gores costarred in a film written by Arnold, The Kid & I. Eric was born with cerebral palsy....
.
Career
In 1978, he founded Executive Business Systems. Within seven years, the company employed over 200 people. In 1986, the company was acquired by CONTEL.Following the acquisition, Gores began acquiring and operating non-core businesses from major comporations. He eventually founded The Gores Group
The Gores Group
The Gores Group, founded by Alec E. Gores, is a private equity firm focused on acquiring controlling interests in mature and growing businesses....
, a private equity firm.