Alec attended Genesee High School in Genesee, Michigan, after which he continued his education at Western Michigan University in Kalamazoo, Michigan, from which he graduated with the Bachelor of Science in computer science. ", The government played a recording from April of 2001 in which Mr.Pellicano actually complains about having to work endlessly on thewiretapping of Mr. Russo. Ms. Gores also told the jury that during her affair with herhusband's brother, she often thought that her car was being followedand that he then husband was having her investigated. More at IMDbPro Contact info Agent info Resume Born March 25, 1979 Add to list Awards 1 win Photos 9 Known for Heal 7.0 Producer 2017 Beneath 5.4 Samantha Marsh 2013 10 Years 6.1 Julie 2011 No Bad Days Brandon and I both loved Carolyn Bessette's wedding dress when she married John F. Kennedy, Jr. She embodied timeless elegance and simplicity. Mr. Freedman earned a B.S. Ms. Pollard is currently the Chief Financial Officer of The Gores Group and is responsible for financial management and fund administration for the firm. He served as Chairman & Board Member at Gores Holdings IV. Finally, Mr. Semenza put Mr. Sender's testimony into some perspectivefor the jury. Gores Holdings II was created in August 2016 shortly after the completion of Gores Holdings I. She tearfully testified how she met with Pellicano, after her husband confirmed that he was investigating her, to ask the private eye to. Either way, its one of the largest homes in all of Beverly Park, with 11 bedrooms and 21 baths, and the 2.2-acre lot is heavily fortified and very private, with dozens of mature trees, formal gardens and lush landscaping. She has been married to Alec Gores since 8 October 2016. His younger brothers are also successful businessmen Sam Gores in one of the top Hollywood agents and the chairman of Paradigm Talent Agency, while Tom Gores is the founder and CEO of Platinum Equity investment firm. Later, she hosted an unscripted podcast for Brides Magazine in the spring fall of 2014. Dont miss to subscribe to our new feeds, kindly fill the form below. Prior to joining Google, Mr. Fike worked in strategy and operations at WebMD, credit investing at Bain Capital, and strategy consulting at The Boston Consulting Group. Prior to joining Gores, Ms. Chou was a Director at Sterling Partners, a private equity firm based in Chicago. Lauren Gores is happily married to her college sweetheart, Jake Ireland since 2013. Ms. Pollard joined The Gores Group in 1996 and has held various finance positions within TGG and its portfolio. Since 1987, The Gores Group has grown and evolved into an established brand. Mr. Stone spent five years with The Boston Consulting Group (BCG) as a member of their high technology and industrial goods practices and served in BCGs Boston, London, Los Angeles and Seoul offices. the Home Is Situated on 2.2 Acres Lot and Features 11 Bedrooms, 21 Baths and 31,335 Sqft of Living Space, Built . The next personality is none other than Lauren Gores who amassed huge popularity through her fashion and lifestyle blogs. Sole Source is one of several firms that have emerged from the Gores franchise over the past few years. ", Mr. Sender testified that Mr. Pellicano was helpful to him in all kindsof ways in relation to his lawsuit against Mr. Russo. "Yougave Mr. Pellicano free rein and were glad to have him on your side?"Mr. Mr. McBride has served as Senior Vice President, Finance and Tax for The Gores Group and Chief Financial Officer and Secretary for each of the Gores SPACs. He eventually founded The Gores Group, a private equity firm in 1987 and since then has acquired or invested in over 130 companies spanning 35 years. He served as Chairman at Gores Guggenheim. The SPAC attack is back for a San Francisco-based hospitality startup. Before Textron, Mr. Janitz was an Executive Vice President with TRW Inc. a multi-national company providing advanced technology products and services. Alec has five children from his two marriages. Billionaire businessman Alec Gores has sold his house in the exclusive Los Angeles enclave of Beverly Park Circle for $70 million, according to public records and people familiar with the deal.. Mr. Pellicano triedto get his orders straight. Girlfriends List, Datin Liz Torres Biography, Weight Loss, Surgery, Hea Naked Truth of Cindy Landolt Height, Measureme Jake Smollett's Biography: Siblings, Wife, Net Wor Genesee High School in Genesee, Michigan, Western Michigan University in Kalamazoo, Eric Gores, Rochelle Gores Fredston, Alexa Gores, Gavin Gores, Lauren Gores Ireland. Jade Mills of Coldwell Banker Realty and Samira Gores, Christine Martin and Tiffany Martin of the Agency held the listing. 2023 Dirt.com, LLC. Contributors control their own work and posted freely to our site. Prior to joining Gores, Mr. Johnson was a Managing Director and Investment Committee member of DLJ Merchant Banking Partners III and IV, and DLJ Growth Capital Partners I. Jennifer Kwon Chou is Managing Director and Chief Strategy Officer of The Gores Group. The exclusive Beverly Park neighborhood, ranked as the richest neighborhood in Los Angeles County, is home to such celebrities as Denzel Washington, Eddie Murphy, Mark Wahlberg and Rod Stewart. in Business Administration, major in Accounting, from Drake University and a Master of Taxation from University of Denver. His son Eric was diagnosed with cerebral palsy. Gores' brother Tom currently owns the Detroit Pistons. Prior to becoming Lauren's husband, Jake was her college time sweetheart. Then my dear friend Jennifer Meyer introduced me to Brandon Maxwell, and we vibed immediately. Within six months, he decided he couldnt work in a large corporation and quit, striking out on his own to build a company that bought and distributed computers. The Wall Street Journal first reported the big transaction. Sonder confirmed Friday that it will go public by merging with a SPAC backed by billionaires Alec Gores and Dean Metropoulos . Mr. Braun also got her to admit that she lied to theF.B.I. If you need to flag this entry as abusive. A lawyer representing actor Alec Baldwin, who was charged with two counts of involuntary manslaughter last week in the 2021 gun death of cinematographer Halyna Hutchins, moved Tuesday to disqualify a special prosecutor in the case. Keeping markets free requires taking away the freedom of others. Family; Parents: Not Available: Husband: Alec Gores (8 October 2016 - present) Sibling: Not Available: Children: Not Available : Kelly Noonan Net Worth. We want to hear from you! Baldwin has previously said he was told he would likely not be charged in connection to Halyna Hutchins death. Looking like a Jennifer Aniston clone, Ms.Gores testified to having an affair with her then brother-in-law, TomGores. She has been involved in a significant number of Gores transactions, both purchases and sales, with responsibility for financial due diligence, operational oversight, deal structure and negotiation. Who is Alec Gores? Founded in 1987, The Gores Group is a private equity firm based in Beverly Hills, California, and has a regional office in Boulder, Colorado. According to sources, it is estimated that the total of Alec Gores net worth, as of May 2017, exceeds the incredible sum of $2.2 billion, acquired through smart leverage buyouts and technology firms acquisitions. In 2018, it asked $95 million in a pocket listing. The second SPAC was used to acquire Verra Mobility Corp. ( VRRM 4.53% ) for $2.4 billion in October 2018. In Alec and the Gores Guggenheim team, we have found a partner with an impressive track record of bringing leading companies to the public markets. Leveraged buyout specialist Alec Gores has sold his 31,000 square-foot French Normandy-style estate in Beverly Park for $70 million. Get the latest scoop directly in your inbox. After the family meeting, Ms. Gores discovered that her then husbandhad paid Mr. Pellicano to wiretap her and had a tape of herconversation with his brother Tom Gores. [18][19][20], Gores has announced or completed more than seven SPAC transactions to date representing over $36 billion in transaction value.[21]. Ms. Calender oversees tax due diligence and structuring of acquisitions and exits. "I remember being offended that myformer partner was talking on the phone with someone that I had tosue. According to Atkinson and Bloom, she told Gore's husband: "Allan, you seem to be leaving it up to me. In 1980, Mr. Diggins began his career in sales management at Burroughs Corporation. 2023 Homes of the Rich - All Rights Reserved, 60,000 Square Foot Home In Cave Creek, Arizona (PHOTOS), $38 Million Home In Pacific Palisades, California (PHOTOS), Pennsylvania Home With 50-Car Garage (PHOTOS), Mountaintop Alabama Home On 17 Acres (PHOTOS), $4 Million New Build In Southlake, Texas (PHOTOS), Canada Home With Indoor Basketball Court & Pool (PHOTOS), Limestone Mega Home With Nightclub & Indoor Pool (PHOTOS), $8 Million Limestone Home In Ontario, Canada (PHOTOS), Luxury Home In British Columbia, Canada (PHOTOS), Luxurious Home In West Vancouver, Canada (PHOTOS), Riverfront Home In Queensland, Australia (PHOTOS), Incredible $200 Million Estate On A Private Island (PHOTOS), $10 Million Modern New Build In Puerto Rico (PHOTOS), Historic 66,000 Square Foot Castle In France (PHOTOS), 21,000 Square Foot Hilltop Home In Spain (PHOTOS), Historic $9 Million Penthouse In Chicago, Illinois (PHOTOS), $250 Million NYC Penthouse (PHOTOS + FLOOR PLANS), $50 Million Penthouse Apartment In Dubai (PHOTOS), Stunning $49 Million Penthouse In Tel Aviv, Israel (PHOTOS), $45 Million Newly Listed Duplex Apartment In Paris, France (PHOTOS), Nicki Minaj Buys Hidden Hills Home For $19.5 Million, Inside Mark Wahlbergs Beverly Hills Home (PHOTOS), Inside Rick Ross Georgia Mega Home (PHOTOS), Inside Steve Harveys Massive Atlanta Home (PHOTOS), Tyler Perrys $100 Million Mega Home (PHOTOS + VIDEO), Historic California Home Lists For $13 Million (PHOTOS + FLOOR PLANS), Mountaintop Montana Home With Amazing Views (PHOTOS), $17 Million French Style Home In Bel Air, California (PHOTOS), Modern New Build In Encino, California (PHOTOS), $72.5 Million Modern Mega Home In Los Angeles (PHOTOS), 41,000 Square Foot Bel Air Mega Home (PHOTOS), $10 Million 21 Acre Estate In Loomis, California (PHOTOS). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. [9] With the help of his fathers last $8,000, Gores founded Executive Business Systems in 1978, selling computers out of his parents' basement. And then, Mr. Pellicano clarified that his suggestionnot to kill, but to "whack" Mr. Russo and it was made after chattingabout how much money Mr. Sender had already spent on this matter. Theres also a wine cellar, a gym and a home office. An ownership group led by Alec Gores plans to bid for the Broncos. Fri, Jan 22 202110:43 AM EST. [4] By 1986 the company employed over 200 people and was acquired by CONTEL for approximately $2 million. About Gores Holdings IV, Inc. Gores Holdings IV is a special purpose acquisition company sponsored by an affiliate of The Gores Group for the purpose of effecting a merger, acquisition, or similar business combination. He attended Genesee High School in Genesee, Michigan. On the latest episode of SPAC Chat, Alec Gores + Mark Stone of The Gores Group join Nasdaq's Karen Snow to discuss the commitment that goes into building rel. Following the arrival of the couple's first child, they found the joy of their life after welcoming another baby girl, Ella Raine Ireland in January 2021. As of December 2021, the company was scheduled to be publicly listed on NASDAQ through combination with Gores Holdings VIII, Inc. Mr. Diggins has worked with Mr. Gores for over 20 years and formerly served as President and CEO of The Gores Group. My handsome groom wearing Bijan, his favorite custom suit-maker and late, great friend. In 2017, Tang reportedly dropped about $300 million to buy a big chunk of what is now Flutter Entertainment, the worlds largest online gambling company. So I've decided, I won't call. She also featured as a reporter in films, including Beneath and Tooken. The Gores Group is primarily focused on technology as well as health care and industrial and business services. With one hand behind his back, Mr.Pellicano let the jury know exactly the nature of his offer to Mr.Sender. We never had a rehearsal, so I was definitely nervous and had no idea what I was supposed to do when I got up there with Alec. I'm going to continue thelawsuit until doomsday. This was considerably more than the amount of electricity used by the. He serves as a Board Member at Luminar. Evergreen has previously been engaged by TowerBrook Capital Partners where Mr. Schiano was a member of the Management Advisory Board and by DLJ Merchant Banking Partners, the Private equity arm of Credit Suisse where he held the position of Vice Chairman Global Industrial Partners. At the age of 15, alongside his family Alec immigrated to the United States. Prior to forming Evergreen, Mr. Schiano served as a Managing Director and member of the Investment Committee of Questor Partners Funds. Homes of the Rich is the #1 luxury real estate blog on the web. [14], In 2020, Forbes ranked Gores No. He began working the very next day at his uncle's store in Flint, bagging groceries for 25 cents an hour. Since joining Gores in 2010, Ms. Chou has been responsible for raising capital across Gores funds. Since 1987 over 80 businesses have been successfully acquired. The French chateau-inspired manse was designed for Gores in 2007 by West Los Angeles-based architect Richard Landry, who has a number of other clients in Beverly Park. "it was my understandingthat Mr. Moriarty knew about it [the wiretapping.] Mr. Saunders ended the day by telling the Judge that tomorrow'switnesses will include: Giuseppe Franco (hairstylist to the stars) aswell as former Pellicano employee, Denise Ward. Gores says he has donated more than $50 million in his lifetime, as of mid-2018, to recipients such as the Hebrew University of Jerusalem and programs for children, Related by financial asset: United Wholesale Mortgage, Resides in Los Angeles, CA Metropolitan Area. Your email address will not be published. I won't bother you anymore." On Friday . I wanted my hair up so that I wouldnt worry about it at all, so I had my dear friend and hairstylist, Angelo Evans, style it in a low bun. Gores, 69, is the founder, chairman and CEO of The Gores Group, a private equity firm that buys and sells companies. 40,000 square feet, 11 bedrooms, 21 bathrooms, Ellen DeGeneres Buys Another Grand Old Montecito Estate, Reclusive Texas Billionaire Paid $45 Million for Paul Allens Beverly Hills Estate, Refined Estate in the Hills Sells to Fayed Family Member, Socialite Jamie Tisch Sends Sun-Drenched Sunset Strip Midcentury Back to Market, YouTuber Cody Ko Puts Snazzy Venice Compound Up for Sale, Reclusive Texas Billionaire Paid $45 Million for Paul Allen's Beverly Hills Estate, Michael Milkens Son Asks $64 Million for Longtime Palisades Home. Many of Mr. Gores's extended family members continue to reside in Michigan, and he himself still has property holdings back there as well. And, just in case the jury wasn't completely turned off byMs. [10], Following the acquisition, Gores began acquiring and operating non-core businesses from major corporations. "They basically said they knew and theyforbid it," she recalled of the "family" meeting. "I love this country. He first married Miz Lisa. The couple still owns several other 90210 homes, plus an oceanfront Malibu mansion and a vacation estate in Michigan. He serves as Director & Chief Executive Officer of Gores Metropoulos II. "No, I'm going to continue with that." She currently holds a net worth of$1.5 Million in 2021. In Clintonesque fashion, Ms. Gorestestified to having been "sexually intimate" with Tom Gores, but only toa "degree." Alec Gores, who is 48, works out of sparsely decorated offices in the Westwood section of Los Angeles, while Tom Gores, 37, runs Platinum from a high-rise in Century City with mohair-covered walls . 391 on the Forbes 400 list of America's wealthiest people. And last year, Tang was part of a small group of ultra-wealthy Asian investors who began gobbling up large share chunks of Playtech, a gambling-focused global tech firm headquartered on the Isle of Man. As a prolific actress, Lauren appeared as a news broadcaster, Tammy Yanks in many episodes of Nickelodeon's family comedy-drama series, Sam & Cat in 2014. His SPACs have orchestrated mergers to take companies like Luminar Technologies, United Wholesale Mortgage and Twinkie-maker Hostess Brands public. Founders Alec Gores Operating Status Active Also Known As Gores Legal Name The Gores Group, LLC Investor Type Family Investment Office, Private Equity Firm Investment Stage Private Equity Number of Exits 5 Stock Symbol NASDAQ:GHIVU Company Type For Profit Contact Email info@gores.com Phone Number 310-209-3010 Gores founded private equity firm The Gores Group in 1987, though its assets have shrunk more than 80% in the last decade to $574 million. The co-founder of Summer Fridays, Lauren is passionate about writing her daily activities on her blog, Lauren's Lyst. Alecs main hobby is gambling in 2012, after only one gambling session of backgammon against J. P. McManus, Alec lost an incredible sum of $17.4 million. Alec Gores was born in 1953 in Nazareth, Israel to a Catholic family, and he was raised and remains a practicing Catholic. PARK TOWNSHIP, MI - Alec Gores, a California billionaire who grew up in Flint, is building an extravagant new home for $1.95 million along North Lakeshore Drive in Park Township. Lauren has five siblings, Rochelle Gores Fredston, Eric Gores, Alexa Gores, Gavin Gores and Riley Grace Gores. Ms. Gores ended up meeting with all three Gores' brothers(Sam, Alec and Tom) at a restaurant in the valley where she and Tomagreed to end their affair. Seo Hye-lin (EXID) - Age, Height, Net Worth, Famil Who is Bruno Massel from "Garage Squad"? in Biological Science from the University of California, Irvine, and a J.D. The selfmade billionaire from Dallas, Texas, has made fortunes buying distressed assets. Production will move from New Mexico to Montana. When it comes to his personal life, Alec Gores has married twice - he was married to Lisa until 2001, while since 2016 he has been married to Kelly Noonan. [8], Upon graduating college, Gores landed a position at General Motors. Beal: Legend in both domains. 1978 In 1978, he founded Executive Business Systems with $10,000, selling computers out of his basement. Prior to Sterling, she worked in capital markets at Lehman Brothers in New York. Founder, Chairman and Chief Executive Officer, Managing Director & CFO, Office of the Chairman, Managing Director & Chief Strategy Officer, Chief Compliance Officer & Senior Vice President, Finance & Compliance, Copyright 2022 - The Gores Group - All Rights Reserved -, We are a dedicated team with extensive investment and operating experience. in Finance and Accounting from the State University of New York at Binghamton. Alec Gores is the Founder, Chairman and Chief Executive Officer of The Gores Group, a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. A woman invited her family to her wedding in Mexico. 2/19. Alec Gores, 69, whose Beverly Hills-based Gores Group buys and sells companies, is part of an investment group in which the three partners have a combined net worth of $10 billion, according to . His shirt was from Brioni. Recalling her fears over the audiotape being released, Ms. Gores began to cry. It features approximately 40,000 square feet of living space with 11 bedrooms, 21 bathrooms, 2-story foyer with staircase, additional staircases & elevator, formal living & dining rooms, gourmet kitchen, breakfast room, family room, library, home office, game/rec room with wet bar, wine cellar, home theater, garage and more. Earlier at Google, Mr. Fike was responsible for acquisitions and investments as part of the corporate development team as well as global client relationships within Google's sales organization. Mr. Skarzenski holds a B.A. It is certain that all these achievements have provided the majority of Alec Gores current net worth. LOCATION: 49 Beverly Park Circle, Beverly Hills, California, BEDROOMS & BATHROOMS: 11 bedrooms & 21 bathrooms, PRICE: Sold for $70,000,000 on 03/17/22 (originally listed at $95,000,000). He is a Six-Sigma Champion. from Loyola Law School, Los Angeles. 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. Mr. Fike graduated from the Wharton School of the University of Pennsylvania with a B.S. Prior to 1988, Mr. Freedman spent four years in public accounting. The owner was billionaire Alec Gores, an American businessman who made his fortune through leveraged buyouts of technology firms. Businessman JP McManus is attempting to secure a $5.2 million (4.5 million) refund from the US tax authorities after he won $17.4 million in a "serious backgammon match" with Alec Gores. When Mr. Semenza asked if Mr. Sender was happy enoughwith the amount of pain and suffering he caused Mr. Russo, Mr. Senderreplied, "I don't agree I put him through pain and suffering, so, no.". From 1988 to 1994, Mr. Freedman held various financial management positions at Paramount Communications. She was -- with her husband's brother, Thomas Gores. Sole Source Capital, formed by ex-Gores Group executive David Fredston, is in the market with its debut fund targeting at least $150 million, according to an LP who has heard the fund pitch.. Mr. Sender calmly told Mr.Semenza that while he started off with just a lawsuit against Mr. Russoto recover his money that his mission changed to "causing as much griefas he could." Once the United Wholesale deal is clinched, their 0. . Alec's and Tom's brother Sam is the chairman of the Paradigm Talent Agency, which lists Coldplay, Laurence Fishburne and Ed Sheeran among its clients. in Broadcast Journalism degree. Send us a tip using our anonymous form. At the end of the day, Lisa Gores, the ex-wife of billionaire Alex Gores, took the stand. You are also agreeing to our Terms of Service and Privacy Policy. Ms. Calender is responsible for finance, compliance, and tax oversight for The Gores Group, including its portfolio companies, and serves as Chief Compliance Officer for the firm. 33-years-old, Lauren was born on 15th October 1987 in the United States. But even after a year of listeningto tapes and being allegedly frightened that Mr. Pellicano might killMr. He began his professional career serving as a computer programmer at General Motors, which engagement provided the basis for Alec Gores nowadays rather impressive net worth. It has acquired 110 companies and currently has $2.5 billion in assets. Likewise, Kumail Nanjiani and his wife, Emily V. Gordon reside in the same region. In 1978, Alec Gores founded Executive Business Systems, a hardware and software distributor, which he sold eight years later to establish what has become The Gores Group today. Russo, Mr. Sender still didn't contact the authorities about eitherthe wiretapping or Mr. Pellicano's alleged threat against Mr. Russo. This French Normandy style stone home is located at 49 Beverly Park Circle in the guard-gated Beverly Park community in Beverly Hills, California and is situated on 2.2 acres of land. 2023 Forbes Media LLC. ", In a recording between Mr. Pellicano and Mr. Sender from May of 2001,Mr. Built in 2007, it was designed by renowned architect Richard Landry of Landry Design and built by Finton Construction. He was also a member of the universitys varsity baseball team. NEW! Alec Gores is the Founder, Chairman and Chief Executive Officer of The Gores Group, a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. Mr. Gores began his career as a self-made entrepreneur and operating Alec Gores was born in 1953 in Nazareth, Israel to a Catholic family.
Dirt is a part of Penske Media Corporation. Gores Holdings II's officers and certain of its directors are affiliated with The Gores Group. He has a billionaire brother Tom's brother Alec Gores is a billionaire by his own right too although the method of acquiring o wealth is similar to that of Tom; Alec earned his net worth of $2 billion by leveraging buyout of technology companies. The act is an iconic example of "doublethink" as explained by George Orwell in his classic novel "1984." comments. She grew up in a Catholic family, where her father, Alec Gores is half-Greek and half-Lebanese. Mr. Tin is a Vice President at The Gores Group where he is responsible for evaluating, structuring, and executing new investment opportunities. [11] Gores pioneered the operational approach to private equity investing, initially deploying his own personal capital, followed by ~$4 billion of institutional capital across multiple investment vehicles. In addition, he served as President of Wickes Manufacturing Company, and held a number of key executive positions with Wickes predecessor company, Gulf+Western Industries, Inc. Mr. Janitz began his career with Ford Motor Company. This page was last edited on 25 February 2023, at 19:40. He also said that thegovernment hopes to rest sometime in the middle of next week. They have four adult children. She is a graduate of the University of Pennsylvania and also received an M.B.A. from Northwestern Universitys Kellogg School of Management where she was a Robert Toigo Fellow. The distinctive history of the firm has shaped our ability to create value in situations characterized by complexity and operational opportunities. Brandon and I both loved Carolyn Bessettes wedding dress when she married John F. Kennedy, Jr. She embodied timeless elegance and simplicity. Mr. Diggins earned his B.A. Well, Jake is a successful entrepreneur, who founded a primarily Bourbon whisky brand, Drink Off Hours. Alec Gores has his own L.A. private equity firm and is worth an estimated $2.2 billion. Since joining the firm in 2010, Mr. Sprowl has had experience across the technology, business services, industrial / building materials and healthcare industries. It sold for $70,000,000 on 03/17/22. Mr. Tin graduated summa cum laude from the University of Pennsylvania, receiving a B.S. ), Ms. Gores told the courtroom that she'd listened to an audio recordingand determined that it was a recording of her conversation that night. I got ready in Alecs brother Toms guesthouse. Gores has sponsored more than a dozen SPACs since 2015 as an early adopter of the blank-check frenzy that exploded in 2020. Mr. Schiano is a Senior Advisor to The Gores Group. During some tough cross-examination by Lawrence Semenza, defendantAbner Nicherie's attorney, Mr. Sender admitted that even today, he wasstill angry at Mr. Russo for duping him. In 1987, Alec founded the private equity firm The Gores Group LLC, based in Los Angeles, California, and steadily began to acquire smaller, non-core business firms from large corporations and conglomerates. Alec Gores is the owner of Gores Group which also specializes in mergers and acquisitions and Forbes has pegged his net worth at $1.6 billion.