Alec Gores

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Alec Gores
Born1953 (age 65–66)
Nazareth, Israel
ResidenceBeverly Hills, California, U.S.
NationalityAmerican, Israeli
Alma materWestern Michigan University
OccupationInvestor
Net worthUS$2.2 billion (April 2018)[1]
Spouse(s)Kelly Noonan (m. 2016); Lisa (div.)
Children5
FamilyTom Gores (brother)
Sam Gores (brother)

Alec E. Gores (born 1953) is an Israeli-American businessman and investor who made his fortune through leveraged buyouts of technology firms at the firm Gores Group. As of October 2015 his net worth was estimated at $2.1 billion by Forbes magazine.

Early life and education[edit]

Alec Gores was born in 1953 in Nazareth, and is of Christian Lebanese descent.[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]

His brothers are:

Career[edit]

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.[10]

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[11] and since then has acquired 80 companies over 25 years.[1]

Personal life[edit]

Alec Gores was born in 1953 in Nazareth, Israel[12] to a Catholic family, and he was raised and remains a practicing Catholic.[12]

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.[13]

In November 2012, he lost $17.4 million to gambler JP McManus in one backgammon session.[14]

See also[edit]

References[edit]

  1. ^ a b Morgan Brennan. "Forbes Alec Gores". Forbes. Retrieved 18 October 2015.
  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".
  8. ^ "The Mystery Bidder for Borders: Meet Alec Gores". The Wall Street Journalt. June 1, 2011. Retrieved April 18, 2013.
  9. ^ Bannon, Lisa (April 9, 2002)."Gores Brothers Jockey for Same Deals In Grown-Up Game of Sibling Rivalry". The Wall Street Journal.
  10. ^ "The Gores Group History".
  11. ^ "The Gores Group, LLC - Team". Gores.com. Archived from the original on July 24, 2011. Retrieved 2011-06-09.
  12. ^ a b "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
  13. ^ Mark David (April 23, 2007). "Do You Know Who Lisa Gores Is?". Variety. Retrieved December 6, 2014.
  14. ^ "'You've just got to be lucky' - How JP McManus won €15m in a board game with US billionaire". Independent.ie. Retrieved 2016-05-08.