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Monday, July 13, 2020
Mon, Jul 13th, 2020
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Alec Gores
Founder and Chief Executive
The Gores Group
THE LATEST: The Gores Group closed its largest-ever special purpose acquisition company, or SPAC, in January. Gores Holdings IV Inc. raised $425 million in its initial public offering, beating its target by $25 million.
BACKGROUND: Gores& eponymous private equity firm has invested more than $4 billion since its founding in 1987, with a focus on acquiring controlling interests in, and partnering with, mature and growing businesses. The firm has acquired and operated more than 120 companies to date. Its portfolio of companies spans diverse industries including technology, telecommunications, health care, media and entertainment and business services. Gores has an estimated net worth of $3.3 billion and was No. 23 on the Business Journal's 2019 list of Wealthiest Angelenos. Gores and his brother Tom each own separate private equity firms and live in Los Angeles.
YEARS ON THE LA500: 5
Return to the 2020 edition of the LA500.
