Net Worth: $2.5 billion

LAST YEAR: $3.2 billion
CHANGE: -26%
AGE: 79
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Private equity

Gores, called “the SPAC kingmaker” during the heights of the special purpose action company upswing of the early 2020s, has recently been entangled along with his company, The Gores Group, in litigation related to those initial public offerings. In July 2024, along with other respondents, Gores agreed to settle litigation challenging the $16 billion blank-check merger of United Wholesale Mortgage LLC, through the publicly traded UWM Holdings Corp, for an undisclosed sum. He is the older brother of Tom Gores, founder of Platinum Equity, and Sam Gores, the head of Paradigm Talent Agency.

Education: Gores has a bachelor’s degree in computer science from Western Michigan University in Kalamazoo, Michigan.

Stock Stake: Gores has benefited in recent years from his significant stake in Arizona-based Verra Mobility Corp., a leader in transportation technologies. Gores owns nearly 7 million shares of the company’s stock, which trades as VRRM on the Nasdaq. Verra Mobility’s shares have gained 41% year over year, moving from $19.26 a share to $27.15 as of Aug. 16.