NET WORTH: $2.25 billion +18%
LAST YEAR: $1.91 billion
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Private equity
THE MONEY: Strong year for private equity boosted fortune of Gores as rising portfolio values helped his Westwood investment firm, Gores Group. Most of wealth tied up in firm’s funds, rest in stocks, bonds and area homes.
BUZZ: Gores getting more into Hollywood. Made play for Miramax Films with brother Tom and antes up in high-stakes poker games with A-listers such as Tobey Maguire. Games became public last year after bankruptcy trustee sued participants to recoup funds lost by player and Ponzi schemer Bradley Ruderman. Busy year for Gores Group featured nearly a dozen acquisitions, including manufacturer Hay Group and distribution company Clark Group. Firm now in the process of buying Pep Boys for $800 million. Made unsuccessful play for bankrupt bookseller Borders. Firm planning to move to Beverly Hills after recent office purchase. Firm also debuted fourth fund, $300 million vehicle targeting smaller companies. Israeli-born Gores grew up in Flint, Mich., and attended Western Michigan University. Founded buyout firm, originally called Gores Technology Group, in 1987. Other brother, Sam, is head of Paradigm Talent Agency.
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