A lec Gores is an Israeli-American billionaire businessman and the founder of The Gores Group, a Los Angeles-based private equity firm. Born in Nazareth, Israel, to a Greek father and Lebanese mother, he immigrated to the United States as a teenager. After earning a degree in computer science, he founded a computer hardware and software distribution company, which he later sold, providing the initial capital for his move into private equity.
He founded The Gores Group in 1987, pioneering an operational approach to private equity. His firm specializes in acquiring and turning around underperforming or non-core divisions of large corporations, particularly in the technology, industrial, and healthcare sectors. In recent years, Gores has become one of the most prolific and successful sponsors of special purpose acquisition companies (SPACs), launching numerous blank-check companies that have taken prominent businesses like Luminar Technologies and United Wholesale Mortgage public. His brother, Tom Gores, is also a billionaire private equity investor and the owner of the Detroit Pistons NBA team.
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Alec E. Gores was born in Nazareth, Israel, in 1953 to a Christian family of Greek (father) and Lebanese (mother) descent. His family emigrated to Flint, Michigan, in 1968 when he was 15, a challenging transition that saw them arrive with barely enough money for the plane tickets.
His first job was bagging groceries at his uncle’s store in Flint for '25 cents an hour', providing his true business foundation. He became the first person in his family to attend college, graduating from Western Michigan University with a Bachelor of Science degree in Computer Science. His philosophy, instilled by his father, was simple: “You’ve got to work hard, and you can do anything you want in this country,” a conviction that drove his subsequent, aggressive career.
Alec Gores began his career as a computer programmer at General Motors but left within six months, finding the 8-to-5 job too slow for his ambitious pace. Driven by a desire to 'move fast', he founded his first company, Executive Business Systems (EBS), in 1978 with a modest $8,000 investment from his father. He sold EBS in 1986 for approximately $2 million.
The sale proceeds provided the seed capital for his true destiny: founding the private equity firm The Gores Group in 1987. Gores pioneered an 'operational approach' to private equity, focusing on buying, fixing, and selling technology and industrial businesses. The most recent and explosive chapter of his career was his early and aggressive embrace of SPACs (Special Purpose Acquisition Companies) since 2015, becoming the most prolific SPAC sponsor in the market. His SPACs have taken major companies like Hostess Brands and Luminar Technologies public, further accelerating his multi-billion dollar fortune.
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Immigrated from Nazareth, Israel, to Flint, Michigan, at age 15.
Founded his first company, Executive Business Systems (EBS), with $8,000.
Sold EBS for $2 million.
Founded the private equity firm The Gores Group.
Became an early and aggressive sponsor of SPACs (Special Purpose Acquisition Companies).
Orchestrated the SPAC merger that took the global EV company Polestar public.
Liquidated several SPACs during the market 'reset', but affirmed commitment to the SPAC product long-term.
Serves as Chairman and CEO of The Gores Group.
Alec Gores' vast wealth is rooted in his ownership of The Gores Group, a private equity firm that has acquired or invested in over 130 companies. His investment strategy is defined by leveraged buyouts and operational turnarounds, with a recent focus on SPACs.
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Alec Gores’ philanthropic efforts are highly private, but his public statements and actions emphasize his profound gratitude for the opportunities provided by the United States as an immigrant. His giving tends to align with community upliftment, often influenced by his devout Catholic faith.
His family commitment extends to media, having commissioned the 2005 film The Kid & I, which starred his son Eric. On a corporate level, his 'buy, fix, and sell' model inherently focuses on operational improvement and job stability in the distressed companies he acquires. His core value is the promotion of the American Dream, urging others to 'embrace it, respect it, blend in' while remaining proud of their roots.
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“I love this country. I love what it brings. When you come from a different place, and you get to see the freedom that we have, the opportunity that we have—it’s insane.”
“You’ve got to work hard, and you can do anything you want in this country.”
“The key thing is Covid, though. I don’t know when this whole Covid thing is going to end.”
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-0.27% | -$9.69M
+0.77% | +$15.57M
This profile is compiled from verified biographical and financial records:
All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.
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