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How did Tom Gore make his money?
Gores was first listed on the Forbes 400 list of the wealthiest Americans in 2002. In 2006, he led a deal to acquire PNA Steel, ultimately selling it to Reliance Steel & Aluminum Co. in 2008 for a net profit of $512 million.
How much is the Detroit Pistons worth?
In 2021, the franchise had an estimated value of 1.58 billion U.S. dollars, nearly double the value of the franchise five years ago.
What is Tom Gore worth?
6.2 billion USD (2022)Tom Gores / Net worth
Who is the CEO of Platinum Equity?
CEO Tom GoresChairman & CEO Tom Gores founded Platinum Equity in 1995 and his guidance, core philosophies, and strong principles drive the strategic development and direction of both the firm and its portfolio. Early in his career, Mr.
Who is the richest Detroit Piston?
Vinnie Johnson is an American former professional basketball Player who has a net worth to be around $420 million. Vinnie Johnson is the most successful former specialist basketball player and an entrepreneur. He played for the Seattle SuperSonics, San Antonio Spurs, and Detroit Pistons during his NBA career.
What is the cheapest NBA team?
Analysis reveals that the Cleveland Cavaliers are the most affordable NBA team to watch, whereas the New York Knicks are at the other end of the spectrum as the most expensive team to root for.
Is Platinum Equity a good company?
Excellent investment firm Platinum is one of the best special situations investment firms in the world and has a great team and leadership. It is a stressful industry, but Platinum was a great place to work.
What nationality is Tom Gores?
AmericanTom Gores / Nationality
Does Detroit have a basketball team?
Detroit Pistons Team Info and News | NBA.com.
What company owns Platinum Equity?
(“Gores Holdings III”) (Nasdaq CM: GRSH, GRSHU, and GRSHW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC (“The Gores Group” or “Gores”), today announced that it completed the acquisition of Platinum Equity portfolio company PAE (“PAE” or the “Company”), trusted provider of ...
What does Platinum Equity own?
Since 1995, Platinum Equity has made over 200 acquisitions across a broad array of industries, including information technology, telecommunications, logistics and distribution, industrials, manufacturing, media, real estate, prison communications and automotive.
How large is Platinum Equity?
approximately $36 billionFounded in 1995, Platinum Equity is a global investment firm with approximately $36 billion of assets under management, teams and investors around the world, and a diverse, global portfolio of operating companies in a wide range of industries.
How much did the Pistons sell for?
In April Platinum Equity chief, Tom Gores, bought the NBA's Detroit Pistons (and its parent company Palace Sports & Entertainment) for $325 million .
How did Vinnie Johnson get rich?
Nicknamed “the microwave” for his ability to “heat up” the offence team, Vinnie Johnson twice won the NBA championship with the Detroit Pistons and has since founded his own automobile company, Piston Group, which generates revenues of nearly US$3 billion a year, according to Forbes.
How much is the Detroit Lions franchise worth?
3.05 billion U.S. dollarsThe franchise value of the Detroit Lions of the National Football League increased from 2002 to 2022. In 2022, the franchise value came to 3.05 billion U.S. dollars. The Detroit Lions are owned by Martha Firestone Ford, who bought the franchise for 4.5 million U.S. dollars in 1964.
Who did Jerami Grant get traded for?
Ismael Kamagate(July 6, 2022) – The Portland Trail Blazers have acquired forward Jerami Grant and the draft rights to Ismael Kamagate from the Detroit Pistons in exchange for the draft rights to Gabriele Procida, a 2025 first-round draft pick (via Milwaukee), a 2025 second-round draft pick and a 2026 second-round draft pick, the team ...
Why did the Pistons move to Detroit?
Though the Pistons enjoyed a solid local following, Fort Wayne's small size made it difficult for them to be profitable, especially as other early NBA teams based in smaller cities started folding or relocating to larger markets. After the 1956–57 season, Fred Zollner decided that Fort Wayne was too small to support an NBA team and announced the team would be playing elsewhere in the coming season. He ultimately settled on Detroit. Although it was the fifth largest city in the United States at the time, Detroit had not seen professional basketball in a decade. They lost the Detroit Eagles due to World War II, both the Detroit Gems of the NBL (whose remnants became the Minneapolis Lakers) and the Detroit Falcons of the BAA in 1947, and the Detroit Vagabond Kings in 1949. Zollner decided to keep the Pistons name, believing it made sense given Detroit's status as the center of the automobile industry. George Yardley set the NBA single-season scoring record in the Pistons' first season in Detroit, becoming the first player to score 2,000 points in a season.
Where are the Detroit Pistons located?
City. The Detroit Pistons are an American professional basketball team based in Detroit. The Pistons compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Central Division and play their home games at Little Caesars Arena, located in Midtown.
What team did the Pistons play for in 1987?
In 1987, the team reached the Eastern Conference Finals against the Celtics . After pushing the defending champions to a 2–2 tie, the Pistons were on the verge of winning Game 5 at the Boston Garden with seconds remaining. After a Celtics turnover, Isiah Thomas attempted to quickly inbound the ball and missed Chuck Daly's timeout signal from the bench. Larry Bird stole the inbound pass and passed it to Dennis Johnson for the game-winning layup. While the Pistons did win Game 6 in Detroit, they lost the series in a tough Game 7 back in Boston.
How many consecutive games did the Pistons start the same lineup?
In addition, the team set an NBA record by starting the same lineup in 73 consecutive games from the start of the season. A game ticket from March 2006 between the Detroit Pistons and the Washington Wizards.
What year did the Pistons win the NBA Finals?
The Pistons are honored at the White House for the team's victory in the 2004 NBA Finals.
How many years did Doug Collins coach the Pistons?
Doug Collins, one of five head coaches for the Pistons in an eight-year span.
How many wins did the Pistons have in 1988?
Motivated by their loss to the Celtics, the Pistons, aided by midseason acquisition James Edwards, improved to a then-franchise-record 54 victories and the franchise's first division title in 32 years.
Who owns the Detroit Pistons?
Tom Gores (born Tewfiq Georgious, Arabic: توفيق جورجيوس ; July 31, 1964) is an American businessman and investor. He is the founder of Platinum Equity, a private equity firm with headquarters in Beverly Hills, California. On June 1, 2011, Gores and Platinum Equity became the owners of the National Basketball Association 's Detroit Pistons.
How much is the Pistons worth?
As of February 2018, the Pistons were valued at $1.1 billion, a gain of $775 million since Gores' purchase in 2011. In June 2018, Gores hired former Toronto Raptors head coach and the reigning NBA Coach of the Year, Dwane Casey.
Who owns the Cleveland Cavaliers?
In April 2016, Gores and Cleveland Cavaliers owner, Dan Gilbert, announced their intention to bring a Major League Soccer franchise to Detroit, although that deal is currently in limbo as the MLS considers multiple expansion options.
Who owns the Palace of Auburn Hills?
On June 1, 2011, Gores and Platinum Equity bought Palace Sports and Entertainment (PS&E) (the parent company of the Pistons and their former arena, The Palace of Auburn Hills) becoming the third owner in the franchise's 70-year history.
Who owns the Detroit Pistons?
The Detroit Pistons want to restore its winning legacy, and owner Tom Gores tells CNBC he’s committed to the current rebuild.
How much is the Pistons worth?
The team is worth over $1 billion, according to Forbes. But under current owner Tom Gores, the team hasn’t produced a winning product. His tenure includes questionable front office decisions, a mismanaged roster and bad contracts.
What happened to the Pistons after the last championship?
That started the culture shift. Former owner Bill Davidson died in 2009 which left the franchise inactive. Dumars departed in 2014, and Pistons lost their way.
What does Thomas see when he drives through Detroit?
Thomas praised Gores for bringing the team back “when the city needs it.” Asked what he sees when he drives through Detroit, Thomas responded: “I see opportunity. And I also see hurt and pain.”
What are some examples of former sports executive Andy Dolich?
In sports, teams can lose sight of identities and it hurts their brand. The Oakland Athletics and New York Knicks are two of two examples former sports executive Andy Dolich used. The A’s stadium issues continue to plague their brand.
When did Dumars take over the Pistons?
Dumars helped resurrect the Pistons from their previous rough cycle when he took over in 2000. He built a roster that was one of the top teams in the Eastern Conference from 2002-2008. This era of Pistons resembled Thomas’ bad boys and won the NBA Finals in 2004.
Who is the NBA executive who helped rebuild the Oklahoma City Thunder?
For this rebuild, Gores gave complete control to respected NBA executive Troy Weaver in 2020. Weaver helped establish the Oklahoma City Thunder, which once had stars Kevin Durant, Russell Westbrook and James Harden. He labeled the Pistons a “restoration process,” borrowing the term from watching his dad restore older cars. A Washington, D.C. native and football fan, Weaver also recalled watching a legendary coach revive an iconic franchise in the National Football League.
Has the Pistons ever won a playoff game?
The Pistons have never won a playoff game, since Gores purchased the team from the Davidson estate in 2011. And do not think he does not not realize it.
Did Tom Gores buy the Pistons?
Tom Gores admits he might not have made all the right moves when he first bought the Detroit Pistons. But, in a new article, he talks about how he learned, and about how much he wants to bring a winner to the city.
How many championships have the Pistons won?
The Pistons have won three National Basketball Association (NBA) championships (1989, 1990, 2004). Established in 1941 as the Zollner Pistons (named for team owner and auto parts manufacturer Fred Zollner) and based in Fort Wayne, Indiana, the Pistons originally played in the National Basketball League ...
Who was the NBA player that led the Detroit Pistons to consecutive world championships in 1989 and 1990?
(NBA) championship teams with the Detroit Pistons (1989–90) and three with the Chicago Bulls (1996–98) and was inducted into the Naismith Memorial Basketball Hall of Fame in 2011.…. Isiah Thomas. He led the Detroit Pistons of the National Basketball Association (NBA) to consecutive world championships in 1989 and 1990.
What is the only major sport invented in the United States?
Britannica Quiz. Basketball Quiz. The only major sport invented in the United States, basketball has become a global phenomenon. Dribble through history with Britannica and learn basketball’s history and exciting facts. The franchise was moved to Detroit in 1957 in order to capitalize on the financial benefits of a larger market.
Did Detroit get traded for Blake Griffin?
The excitement among Detroit fans that that playoff berth had created was quickly snuffed out the following season as the team struggled to a losing record. The Pistons traded for star forward Blake Griffin during the 2017–18 season, and Detroit again qualified for the postseason in 2018–19.
Did the Pistons lose in their first 13 seasons?
Despite the presence of such stars as Bailey Howell, Jimmy Walker, Dave DeBusschere, and Dave Bing, the Pistons posted losing records in each of their first 13 seasons in Detroit (though they did occasionally qualify for the postseason, owing to the small size of the NBA at the time).
When did the Pistons play their first game?
The Pistons played their inaugural game at Little Caesars Arena during the preseason against the Charlotte Hornets on October 4, 2017. They lost the game 108–106. Their regular season home opener, also against the Hornets, was played on October 18, 2017. The Pistons beat the Hornets 102–90.
When did the Pistons move to Little Caesars Arena?
On November 22, 2016, the Pistons officially announced that they would move to Little Caesars Arena starting with the 2017–18 season. On June 20, 2017, Detroit City Council approved the Pistons' move to Little Caesars Arena.
How much did Little Caesars Arena cost?
It was originally announced that Little Caesars Arena would cost $450 million to construct, on top of an additional $200 million for constructing the new district. $285 million of the total $650 million cost would be public funds, with $365.5 million in private funding.
Why is Little Caesars Arena named after Gordie Howe?
Following Howe's death on June 10, 2016, an online petition began to circulate requesting that Little Caesars Arena be renamed in honor of the former Red Wings player.
When will the Spartans play in the Breslin Center?
The games will rotate between Little Caesars Arena and the Breslin Center. The first game was played at the arena on December 14, 2019.
Where is the Horizon League basketball tournament?
Detroit began hosting the men's tournament at Joe Louis Arena in 2016 under a 5-year deal, and the women's tournament in 2017. The tournaments moved to Indianapolis for 2020.
Overview
The Detroit Pistons are an American professional basketball team based in Detroit. The Pistons compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Central Division and play their home games at Little Caesars Arena, located in Midtown. Founded in Fort Wayne, Indiana as a semi-professional company basketball team called the Fort Wayne …
Franchise history
Fred Zollner owned the Zollner Corporation, a foundry that manufactured pistons, primarily for car, truck, and locomotive engines in Fort Wayne, Indiana. In 1937, Zollner sponsored a semi-professional company basketball team called the Fort Wayne Zollner Pistons after he received a request from his workers. In 1941, the Zollner Pistons shed their works team roots and joined the National Basketball …
Media coverage
The Pistons flagship radio station is WXYT-FM. There are several affiliate stations throughout Michigan and Toledo, Ohio. The regular radio announcers are Mark Champion with play-by-play and Rick Mahorn with color commentary.
The Pistons' current exclusive local television rights holder is Bally Sports Detroit. The regular TV announcers are George Blaha with play-by-play, Greg Kelser with color commentary, Grant Long or T…
Team identity
After moving from Fort Wayne, Indiana, to Detroit in 1957, the Pistons' uniforms remained largely unchanged for two decades, featuring the word "Pistons" in blue block lettering. In the 1978–79 season, the team featured a uniform with lightning bolts on the sides and in the wordmark on the front of the jerseys. The team discontinued the lightning bolt theme and returned to its classic block let…
Home arenas
• North Side High School Gym (1948–1952)
• Allen County War Memorial Coliseum (1952–1957)
• Olympia Stadium (1957–1961)
• Memorial Building (University of Detroit) (1957–1961; used as an alternate when Olympia Stadium was occupied)
Further reading
• Profile at sportsecyclopedia
• Profile at thedraftreview
• Profile at nbahoopsonline
External links
• Official website
Overview
Tom Gores (born Tewfiq Georgious, Arabic: توفيق جورجيوس; July 31, 1964) is an American billionaire businessman. He is the founder of Platinum Equity, a private equity firm headquartered in Beverly Hills, California. In June 2011, Gores and Platinum Equity became the owners of the National Basketball Association's Detroit Pistons. He became the sole owner in 2015. As of March 2022, his net worth was estimated at US$6.0 billion.
Early life and education
Gores was born in Nazareth, Israel, on July 31, 1964. He was the fifth of six children in a practicing Catholic family with a father of Greek descent and a mother of Lebanese descent. When he was around five years old, he and his family left Nazareth and settled in Genesee, Michigan located 10 miles northeast of Flint. His first job involved stocking shelves at his uncle's grocery store in Genesee. While a student at Genesee High School, Gores played defensive back in football, midd…
Career
After college, Gores had a short stint at Continental Telephone before helping found a lumber-logistics software firm (Ventech). In 1989, Tom and his wife drove from Michigan to Los Angeles in a used Cadillac to run the firm's West Coast operations. In 1995, Gores founded Platinum Equity in his home in Sherman Oaks. At the outset, Gores cold-called businesses to see if they had any divisions they were looking to offload. He found his first project with Litigation Services, Inc. (LSI…
Philanthropy
In 2016, Gores launched FlintNOW, an organization designed to raise up to $10 million to provide relief to residents of Flint, Michigan affected by the city's water crisis. Since 2009, Gores has donated toys to children in Detroit and Flint through the Toys for Tots program. Other Detroit area organizations to which Gores has given substantial support include the Jalen Rose Leadership Academy and S.A.Y Detroit. At the conclusion of the Pistons 2018–2019 season he made a dona…
Personal life
Gores lives in Beverly Hills, California, with his wife Holly and three children. He also has a condo in Birmingham, Michigan.
In 2016, Gore purchased a contemporary-style mansion in the Holmby Hills area of LA. The property worth $100 million is on 3,2 acres of land and is over 300,000 square foot of interior space with ten bedrooms and twenty bathrooms across both the main and guest house. The pro…
External links
• Official website
• Platinum Equity profile of Tom Gores