Who is Tom Golisano?
He is the founder of Paychex. He is a billionaire and philanthropist. He ran for Governor of New York. He was born in November 1941. He is married to Monica Seles. He has 2 children with his ex-wife Gloria: Steven Golisano and Cynthia Golisano.
Paychex is a provider of payroll, human resource, and benefits outsourcing services. The company was founded by Golisano in 1971. With a start capital of just US$ 3,000.
The idea was to make payroll outsourcing easy and affordable for small businesses. The focus was on businesses with less than 100 employees. Paychex now has revenues of US$ 3.4 billion. And an operating income of US$ 1.2 billion. The company has 12,000 employees and no debt.
Golisano is the former owner of the Buffalo Sabres hockey team. And of the Buffalo Bandits lacrosse team. He sold both to Terrence Pegula. Pegula is owner of the yacht Top Five.
Tom Golisano Net Worth
His net worth is US$ 3.8 billion. Paychex is stocklisted. But Golisano still owns 40 million shares (10% of the equity). These shares are worth USD 2.8 billion (US$ 70 each).
Golisano is an active philanthropist through his B. Thomas Golisano Foundation. Which he founded in 1985. Through the years Golisano and his foundation donated more than US$ 250 million.
He donated more than US$ 30 million to the Golisano Children’s Hospital at the University of Rochester Medical Center. In total there are 3 hospitals supported by and named after Golisano.