The Detroit Pistons are a professional basketball team in the NBA, based in Detroit, Michigan, USA. They compete in the league’s Eastern Conference. Founded in 1941 (originally as the Fort Wayne Pistons), the franchise has a long and storied history.
The team is publicly traded only in the sense that the NBA is a public-league structure; the Pistons themselves are privately owned (not publicly listed on a stock exchange).
As of the most recent information, the Pistons are owned by billionaire businessman Tom Gores, who is the Chairman and CEO of the private equity firm Platinum Equity.
Ownership Status of the Detroit Pistons
There is a single majority owner of the Pistons: Tom Gores. He does not share majority ownership in the franchise with any other entity (according to publicly available data) and holds 100 % of the team’s equity.
Key Ownership Timeline
- In June 2011, Tom Gores and Platinum Equity purchased the franchise (through their acquisition of the parent company) for approximately US$325 million.
- In September 2015, Gores bought out Platinum Equity’s remaining stake, giving him full control as sole owner.
Key Shareholder Highlights
Since Tom Gores is the sole owner, the shareholder structure is straightforward: he is the principal and controlling equity holder. There are no publicly listed large minority shareholders with control.
| Shareholder / Entity | Ownership Percentage | Notes |
|---|---|---|
| Tom Gores | ~100 % | Sole owner since 2015. |
All remaining shares (if any) are outside the public disclosure threshold or are considered part of Gores’s ownership structure.
About Tom Gores
Tom Gores (born Tewfiq Georgious on July 31, 1964) is an Israeli-born American businessman and investor. He emigrated at a young age to the U.S., grew up in Michigan, and went on to earn a Bachelor of Science degree from Michigan State University.
In 1995 he founded the private-equity firm Platinum Equity, headquartered in Beverly Hills, California. Under his leadership the firm has acquired dozens of companies across many industries and grown to manage very large assets. In June 2011, Tom Gores and Platinum Equity acquired the NBA franchise Detroit Pistons, and by 2015 Gores had bought out remaining interests to become the sole owner.
Beyond his business ventures, he is known for philanthropic work (for example, launching the foundation “FlintNOW” to assist residents in Flint, Michigan) and for engaging in community and sports-oriented initiatives.
Tom Gores Net Worth
Estimating the net worth of a private investor can vary depending on sources and timing. As of recent data:
- According to the Los Angeles Business Journal, as of 2024 his net worth was estimated at US $8.8 billion.
- Other sources like Bloomberg place his net worth at over US $11.8 billion after his investment into an NFL stake.
- Earlier sources report lower figures (for example around US $7.3 billion) depending on what assets and valuations are counted.
In summary, Tom Gores is a multi-billionaire whose wealth derives primarily from ownership of Platinum Equity, his sports franchise ownership (the Detroit Pistons), and other investments.
Recent Developments in Ownership
While there have been no major changes in the primary ownership of the Pistons recently (Gores remains the owner), there are some relevant developments in his broader sports investments:
- In 2024, Tom Gores purchased a ~27 % stake in the Los Angeles Chargers (NFL) from the Spanos family.
- In 2025, Gores, via the Pistons ownership group, submitted a bid to establish a WNBA franchise in Detroit.
These developments show Gores’s increasing footprint in professional sports, though they do not affect the ownership status of the Pistons themselves.
FAQs
1. Who is the current owner of the Detroit Pistons?
The current owner is Tom Gores, who holds full ownership of the franchise.
2. Is the Detroit Pistons team publicly traded or privately owned?
The team is privately owned, with Tom Gores as the sole owner.
3. Who founded the Detroit Pistons?
The franchise originated as the Fort Wayne Pistons and was founded in 1941 by industrialist Fred Zollner.
4. Has the ownership changed recently?
No change in the primary ownership has been reported recently; Tom Gores continues as owner. However, he has made significant investments in other sports teams and initiatives.
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