Net Worth: $3.1 B

LAST YEAR: $3.4 B
CHANGE: -8.8%
AGE: 69
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Private equity

THE MONEY: Gores and his eponymous firm rode SPAC mania to record highs in recent years. Since 2015, nine companies have gone public through mergers with Gores Groups’ blank-check holding companies, including Twinkie maker Hostess Brands Inc., transportation software provider Verra Mobility, government contractor PAE Inc., lidar sensor maker Luminar, online mortgage originator United Wholesale, packaging supplier Ardagh Group, spatial data company Matterport and short-term lodging startup Sonder Holdings Inc. The company has slowed its SPAC activity as of late; to date, its only SPAC debut in 2022 was with the Swedish premium EV-maker Polestar (PSYN) in late June.

THE BUZZ: Gores appears to have five SPACs in play for potential business combinations. These include Gores Technology Partners II, which completed a $460 million IPO; Gores Technology Partners Inc., which completed a $275 million IPO; Gores Holdings IX Inc., which completed a $525 million IPO; and Gores Holdings VII Inc., which completed a $550 million IPO. Most recently, the company announced its Gores Holdings VIII Inc. would merge with Footprint – a leading ESG packaging business – as part of a $1.6 billion deal.