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Alec Gores Net Worth, Biography & Wiki 2017
Alec E. Gores was born in 1953 in Nazareth, Israel, and is now an American businessman as well as an investor and entrepreneur, who is most famous for being the founder, Chief Executing Officer and the chairman of The Gores Group – a private equity firm specialized in asset management and financial services.
Have you ever wondered how much wealth this international businessman has accumulated so far? How rich Alec Gores is? According to sources, it is estimated that the total of Alec Gores’ net worth, as of May 2017, exceeds the incredible sum of $2.1 billion, acquired through smart leverage buyouts and technology firms’ acquisitions.
Alec Gores Net Worth $2.1 billion
Alec was one of four siblings, and apart from Israeli is also of Greek and Lebanese ancestry. At the age of 15, alongside his family Alec immigrated to the United States. His younger brothers are also successful businessmen – Sam Gores in one of the top Hollywood agents and the chairman of Paradigm Talent Agency, while Tom Gores is the founder and CEO of Platinum Equity investment firm. Alec attended Genesee High School in Genesee, Michigan, after which he continued his education at Western Michigan University in Kalamazoo, Michigan, from which he graduated with the Bachelor of Science in computer science. He began his professional career serving as a computer programmer at General Motors, which engagement provided the basis for Alec Gores’ nowadays rather impressive net worth.
In 1978, Alec founded Executive Business Systems – a small basement-based computer-selling firm which, under his careful guidance, in the course of the next several years grew to become the leading retailer of vertical business software systems in the Michigan area, with over 200 employees. In 1986, Alec’s EBS was bough by CONTEL for an approximate sum of $2 million – certainly, this deal helped Alec Gores to dramatically increase his net worth at that time.
In 1987, Alec founded the private equity firm The Gores Group LLC, based in Los Angeles, California, and steadily began to acquire smaller, non-core business firms from large corporations and conglomerates. Under the leadership of Alec, who also serves as company’s chairman and CEO, The Gores Group “suffered” sustainable growth and in the last 25 years has acquired more than 110 companies and enterprises worldwide, valued between $200 million and $3 billion. The Gores Group is primarily focused on technology as well as health care and industrial and business services. It is certain that all these achievements have provided the majority of Alec Gores’ current net worth.
Apart from those already mentioned above, Alec is also involved with companies such as GTG PC Investments LLC, Dovre Group Plc, Proha Plc as well as Artemis International Solutions Corporation. Besides these, he was also the chairman and director of Gores Holdings I LLC, Gores Holdings II Inc and Gores Capital Partners III L.P. Doubtlessly, all these accomplishments have made an impact on Alec Gores’ net worth.
When it comes to his personal life, Alec Gores has married twice – he was married to Lisa until 2001,while since 2016 he has been married to Kelly Noonan. From these two marriages, Alec has five children.
Alec’s main hobby is gambling – in 2012, after only one gambling session of backgammon against J. P. McManus, Alec lost an incredible sum of $17.4 million.