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Tom Gores
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"Tom Gores has a tremendous affinity for Michigan and the people of Michigan and the importance of the economic development," Barnhill said. "That's part of the appeal (of Delphi Steering), to see if we can feel out a way to contribute (to the state's economic development."
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Tom Gores lives in Beverly Hills, California with his wife and three children. He was born in Israel and immigrated to the United States with his family when he was a child. With an estimated current net worth of around two billion dollars, he was ranked in 2006 by Forbes as the 160th-richest person in America.
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Tom Gores practices in the area of personal planning. He helps clients with personal tax and estate planning issues, trust and estate administration, and corporate fiduciary counseling. His practice includes planning for business owners and families on a multi-generational basis,as well as philanthropy planning and valuation issues.
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Gores discovered his calling as a turnaround artist when a company of his was ruined by a poorly executed acquisition. Born in Israel, he moved to Michigan with his family when he was 13. After graduating from Western Michigan University with a degree in computer science, Gores worked briefly for General Motors Corp. ( GM) before starting a distributor business for CADO Inc., a maker of computer workstations. After seven years, Gores sold the business to local telephone company Contel Corp. for $10 million. Contel cut commissions to salespeople, divided up work groups, and let slide a profitable sideline software business. Gores tried to buy the company back, but got outbid.
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Now, Gores might play the role of silent partner within 360 Pictures, the production company he co-owns, which lets him off the hook somewhat. Nevertheless, investors, which are couphing up more than $1.5 billion to the firm’s new fund, might want to ask some questions. After all, it is their money that Gores will be dropping into expensive deals, and they certainly hope for better due diligence than what Gores conducted on his movie investment.
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Paradigm was founded in March 1993 when Gores' Gores/Fields agency merged with three other boutiques. Writers and Artists was founded in New York in 1970 by former agency head Joan Scott. Paradigm's current client roster includes such actors as Chris Cooper, Laurence Fishburne, Andy Garcia, Allison Janney and Dennis Franz and writer-producers like "Law & Order: SVU" executive producer Neal Baer.
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Tom Gores