10 Richest Private Equity Moguls
Alec Gores
Alec E. Gores, an American businessman made his fortune through leveraged buyouts of technology firms. His private equity firm, Gores Group, completed its purchase of the automotive and aftermarket service chain Pep Boys in February 2012, acquiring the company's remaining 24 percent for $1 billion, roughly $15 a share. Gores moved up to $2 billion for a new fund to focus on telecommunications, technology business services and health care in February 2011. He started off with the buyout firm in 1987 and has purchased more than 80 companies since. Alec's younger brother Tom is the billionaire chief of Platinum Equity, his own private equity shop. In November 2011 Gores' name was proposed as a potential bidder for the Los Angeles Dodgers. He is ranked at 683rd position and owns a net worth of around $1.9 billion