Tom Gores is the principal owner of the Detroit Pistons and Palace Sports & Entertainment (PS&E), and the founder and CEO of Platinum Equity, a global investment firm with diversified holdings in entertainment, technology, industrial, manufacturing and distribution operations around the world.
Since acquiring PS&E in June 2011, Gores and his ownership team launched facilities upgrades across PS&E, including a new Pistons locker room and entertainment complex on the event level at The Palace; equipment upgrades at the team’s practice facility; and new branding and infrastructure improvements to both DTE Energy Music Theatre and Meadow Brook Music Festival. It is part of a multi-million dollar, multi-year capital improvement project, including the completion of large-scale renovations of the main concourse level, suite areas, club areas, technical upgrades and the construction of a new open-air lounge, Club 300, located on the arena’s 300-level.
A new coaching staff and fresh, young talent have helped revitalize the Pistons, and new leadership on the business side of the organization has improved collaboration, communication and innovation between all facets of the organization.
Gores has described ownership of PS&E and the Pistons as a community trust, and he remains steadfast in his commitment to providing a winning team on the court, creating memorable experiences at PS&E’s concert venues, and being impactful in the community. To that end, the Pistons launched a new state-wide community outreach program in 2011 called “Come Together,” recognizing people making an impact in their communities throughout Michigan.
Found in 1995, Platinum Equity has grown into a multi-billion-dollar investment firm with a diverse, global portfolio of operating companies in a wide range of industries including automotive, technology, telecommunications, manufacturing, distribution and logistics, and media. Platinum Equity’s current portfolio includes more than 30 businesses operating around the world, including several Michigan-based companies in the automotive, marine and logistics sectors, employing thousands throughout the state.
Gores’ focus on operational execution is a hallmark of Platinum Equity’s approach, and a signature of its distinction. The firm has trademarked itself as an M&A&O® firm – Mergers, Acquisitions and Operations – reflecting Platinum Equity’s mission of not only merging or acquiring businesses, but operating them in a way that creates meaningful value.
Gores’ attention to detail and commitment to executing on fundamentals can be traced back to his early experience, learning to run a business from the ground up. He began in the software industry as an entrepreneur who developed a successful business, providing inventory and supply chain management solutions to the lumber industry. As a small business owner, where companies often trade on their reputation and ability to execute, Gores learned the importance of hard work and integrity – principles that continue to guide him.
Gores, a naturalized U.S. citizen born in Nazareth, Israel, was 4-years-old when his family immigrated to the U.S., settling in Flint, Mich. He worked his way through Michigan State University, earning a bachelor’s degree.
Gores resides in Beverly Hills, CA with his wife, Holly, and their three children. The family also maintains residences in Grosse Ile and Birmingham, Mich. He is an active youth soccer and basketball coach and a patron of the arts, education, health advocacy.