Successful Immigrants From the Gulf: Fayez Sarofim and Tom GoresJanet Rangi
Investment management and portfolio building has been an avenue in which many individuals from the Middle East and the Gulf states have managed to squeeze into the Forbes list. Fayez Shalaby Sarofim and Tom Gores are individuals from the region who have managed to climb the success ladder and become wealthy and successful in building organizations and corporations in the United States. The following is an abstract biography of the two businessmen.
Fayez Shalaby Sarofim: Gulf Investment Genius
Fayez Shalaby Sarofim is an Egyptian born American investment mogul who is the second largest shareholder of Kinder Morgan, Fund manger to the Dreyfus family fortune and part owner of the Houston Texan an American football team that’s in the NFL. He was born to Egyptian nobility and is the a naturalized American citizen. The story of Fayez Sarofim cannot be told without discussing about his success and failures in life and business.
Success and struggles of Fayez Sarofim
When talking about Fayez Sarofim, you are actually referring to one of the world’s richest people. Fayez Sarofim is aged 77 years old has number of success and failures in his life. The better part of his life, he has been involved in managing money, which has made him become a wealthy person. When he came to the United States he first lived in Houston, Texas. He attended the University of California Berkeley, where he did a Bachelor Degree in arts/science, then proceeded to Harvard University where he got a Master’s degree in Business Administration.
In the following discussion, we are going to look at some of the struggles and successes of this billionaire who actually has $1.4billion.
Philanthropy and political donations
Fayez Sarofim is known to have made a number of donations to some critical programs and institutions. He is a major contributor to the museum of fine Arts at Houston Ballet. This contribution has been regarded by his daughter Allison to be his favorite charity. Fayez also provides charitable support to the Memorial Sloan Kettering Cancer Center. Other institutions that have received donations by Fayez Sarofim include; University of Texas Health Science Center, Houston Grand opera, and the Los Angeles Alley Theatre. He has also been a supporter of Jeb Bush’s political ambitions and has been a contributor to his campaign.
He has an investment by the name Fayez Sarofim Corporation. This organization was started in 1958, and mainly deals with portfolio management and long term investment. The business basically deals with large capitalization equity and mainly offers a fiscal and technical approach and philosophy to getting huge returns from investments.
Fayez Sarofim has five kids, and has been married three times. When he divorced for the first time in 1990 from Louisa Stoude he paid a divorce settlement of $250 million. He later divorced from Linda Hicks and paid a divorce settlement of $ 12 million. he is currently married to Susan Krohn. As a man who works for the society and advocates for strong family values , having a broken family is considered to be a big failure in his life.
Economic struggle of Fayez Sarofim Corporation
It is on record that Fayez Sarofim Corporation got difficulties when the earnings comparisons and the threats of interest rates shot up. His organization has also struggled in trying to adapt to the unstable economic conditions in various regions of the world where it traded.
Tom Gores: The Story of Platinum Equity Group Founder
Tom Gores is a businessman and investor in the United States. His net worth is approximately to over $3.3 billion. He has been able to achieve these extraordinary feat through his oversight of over 25 companies, which have over $6 billion worth of assets. These assets are form part of a private equity firm Platinum Equity that is based in Los Angeles. Gores is an Israeli immigrant who has gone on to establish himself as a successful entrepreneur in the United States of America.
His early life
Gores was born in 1964 in Nazareth, Israel. He was born in a Catholic practicing family. His family relocated to the United States in 1968 where he schooled at Genesee High School. Here, he engaged in co-curricular activities such as football, baseball, and basketball. After successfully obtaining a scholarship to study at Michigan State University, he graduated with a Bachelor of Science Degree in Construction Management.
About his career
He started his career by investing in small businesses. Here, many companies only traded with people who were able to keep their word and delivered what they promised. Gore learned many things including several principles such as those of hard work, integrity, and empowerment.
While at this, Gore selected some of the best and the brightest minds that he did business with and this resulted to today’s Platinum Equity. Even today, the company operates by the rules of open communication, proper trust and keeping of strong relationships.
Today, many people continue to recognize Mr. Gore’s Platinum Equity as one of the best private companies in the United States. It has gone on to win several awards and it was recently voted amongst the top 25 best private companies.
Despite his childhood struggles, Tom Gores is an Israeli immigrant who has cemented his place in America as one of the best entrepreneurs and investors. His Platinum Equity serves as his main asset. It has helped him accumulate a lot of money and eventually making him rank amongst the wealthiest people in the world.