⬅ # 587 Jon Stryker|# 589 Marian Ilitch

# 588 Tom Golisano 

$5.43B

Real Time Net Worth
as of 4/12/2024
-$42.6M (-0.78%)

# 588 Tom Golisano 

$5.43B

Real Time Net Worth
as of 4/12/2024
-$42.6M (-0.78%)
OccupationFounder, Paychex
Source of WealthPayroll Services
Age82
ResidenceNaples, Florida
Marital StatusMarried
Children2
EducationAssociate in Arts/Science, SUNY Tech Alfred
Age-Adjusted Net Worth$1.23B
Tom Golisano
Tom Golisano
United States
Net worth: $5.43B

Self-Made Score 

Wealth History

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Biography

Overview

Blase Thomas Golisano, born November 14, 1941, is an American billionaire businessman and philanthropist.
He was born in Rochester, New York, to parents working as a macaroni salesman and a seamstress.
Golisano founded Paychex in 1971 with just $3,000 and a credit card, eventually turning it into a payroll giant.
He served as CEO of Paychex until 2004 and remains a director of the company.
Golisano owned the Buffalo Sabres of the NHL and the Buffalo Bandits of the NLL from 2003 to 2011.

Business Ventures

Founded Paychex in 1971 with $3,000, serving as president and CEO until 2004.
Purchased Greenlight Networks, a fiber internet provider, in 2018 and expanded its reach with a $100 million investment.
Sold his controlling equity shares of Greenlight Networks to Oak Hill in 2022.
Former co-owner of the Buffalo Sabres hockey team and the Buffalo Bandits lacrosse team.
Made unsuccessful bids for the Los Angeles Dodgers franchise in 2012 and the Buffalo Bills in 2014.
Ranked as one of the wealthiest individuals in America, with his net worth fluctuating around billions.

Political Activities

Ran for governor of New York three times under the Independence Party, spending $93 million on his campaigns.
Founded the Independence Party of New York and made significant contributions to political causes.
Advocated for property tax cuts, election reform, and term limits for public offices.
Served as a spokesman for National Popular Vote Inc., supporting a popular vote system for presidential elections.
Formed the campaign 'Tax My Property Fairly' in 2018 to advocate for fair property taxes in Upstate New York.
Played a role in the 2009 New York State Senate leadership crisis, aligning with Democratic senators.

Philanthropy

Founded the B. Thomas Golisano Foundation in 1985, donating over $300 million to various causes.
Donated to establish the B. Thomas Golisano Center for Integrated Sciences at Niagara University.
Contributed to Ave Maria University for the construction of a new field house.
Made significant donations to Special Olympics for the Healthy Communities initiative.
Contributed to the construction of Golisano Children's Hospital at Lee Health and Unity Hospital.
Donated to educational institutions like the University of Rochester and Nazareth College for various projects.

Authorship and Education

Co-authored the book 'Built, Not Born: A Self-Made Billionaire's No-Nonsense Guide for Entrepreneurs' in 2020.
The book reached #1 on Barnes & Noble's bestselling business book charts.
Founded the Golisano Institute for Business and Entrepreneurship, slated to open in 2023.
Hired Ian Mortimer as the president of the Golisano Institute.
Focused on reducing the time and cost of business-related education with the Golisano Institute.
Engaged in educational philanthropy, including donations to institutions and the establishment of the Golisano Institute.

How long would it take you to become as rich as Tom Golisano?

If you started with $10,000 and invested an additional $500 each month at a 44.41% CAGR, it would take you 5 years to reach Tom Golisano's net worth of $5.43B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 38.63% compared to 10.38% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Tom Golisano is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Tom Golisano, Payroll Services is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey