NET WORTH: $5.6 billionAGE: 56RESIDENCE: Holmby HillsSOURCE OF WEALTH: Private equityLAST YEAR: $4.8 billionCHANGE: +17%THE MONEY: Gores’ net worth grew again this year owing largely to an estimated increase in the value of his private equity holdings. The gains were boosted by a healthy $180 million appreciation in his investment in the NBA’s Detroit Pistons, which Gores has owned outright since 2015. Gores is the chairman and chief executive of Platinum Equity, the $23 billion private equity firm he founded in 1995 after splitting with his older brother and fellow private equity billionaire Alec Gores. Tom Gores’ firm closed one of the largest funds in the history of Los Angeles private equity in January with the $10 billion Platinum Equity Capital Partners V. THE BUZZ: Platinum Equity kept busy this year despite the coronavirus pandemic. The firm made 44 deals in the last 12 months, including 30 acquisitions and 14 exits. Among the purchases were storied public relations and marketing company Cision Ltd., which Platinum picked up in an all-cash transaction for $2.7 billion, and the distribution business of century-old entertainment staple Deluxe Entertainment Services Inc. Gores has been active in the fight against Covid-19 in Michigan, where he grew up. In April, Gores purchased 100,000 surgical masks for Detroit city workers and first responders.