$2.65 billion 18%
LAST YEAR: $2.25 billion
RESIDENCE: Beverly Hills
SOURCE OF WEALTH:
THE MONEY: Another good year for private equity boosted fortune through Westwood firm, Gores Group. Most of wealth tied up in firm’s funds. Personal portfolio of stocks, bonds and other investments performed well this year, along with several homes.
BUZZ: Gores Group walked away from plan to buy auto retailer Pep Boys for $800 million last year after news of lower earnings, but it’s found plenty of other acquisitions over the past 12 months, including a health care unit of General Electric, sports radio syndicator Dial Global and communications hardware supplier Harris Broadcast Communications. Born in Israel and raised in Flint, Mich.; attended Western Michigan University. Founded buyout firm in 1987. Taught the business to younger brother and fellow billionaire Tom. Like Tom, who bought pro basketball’s Detroit Pistons in 2011, Alec is building bigger presence in former home state. Reportedly building $2 million, 10,000-square-foot estate on shore of Lake Michigan near town of Holland.
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