Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. Tom Gores, founder of Platinum Equity LCC, has joined forces with brother Alec Gores, who founded Gores Group LLC, to acquire Alliance Entertainment LLC from its parent company Source Interlink Co., marking the close of their first investment together.
Industries: Mergers and Acquisitions
Company: Platinum Equity
What Made Him Haute: He’s the chairman and CEO of Platinum Equity. The company typically acquires business from leading Fortune 500 companies including GE, Lucent, Motorola and many more. This entity has amassed him one of the largest fortunes in the United States.
What Makes Him Haute Now: Tom Gores stands alone in his private equity endeavors, but his combined efforts with brothers Alec Gores and Sam Gores keep his power, and fortune, on the rise. The Alliance deal came through while Platinum Equity and Gores Group had been working together with Paradigm Talent Agency, an entertainment agency led by chairman Sam Gores, providing Tom and Alec with a becoming investment opportunity in the entertainment sector. Alliance distributes CDs, DVDs and video games to retailers such as Amazon.com, Barnes & Noble and Borders, and provides e-commerce technology and fulfillment services with about $750 million in annual revenue, comprising roughly half of Source Interlink’s business.