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Executive Profile: Thomas Golisano

Blase Thomas Golisano is on the Forbes 400 Richest Americans list for having an estimated wealth of $3.3 billion. He has climbed to the top of the ladder as an extremely savvy entrepreneur and is known for his charitable work and large contributions. He grew up in Naples in Florida and rose to success by establishing Paychex, which has managed to become the second greatest payroll processing company in the U.S. Paychex supplies companies with payroll functions and answers to business problems. Golisano got his start in 1971 when he decided to take a risk and took $3,000 from his own savings and his credit card to create his company.

How He Made His Fortune

Thomas Golisano accumulated his fortune through starting his company, Paychex. He created his company with just $3,000 and his credit card and later went on to grow his company through multiple joint ventures and franchising deals. He changed the status of his company to a public company in 1983. At one time, he also held an interest in the Buffalo Bandits as well as the Buffalo Sabres, which he later sold in 2011 for an undisclosed amount.

In addition to his already impressive achievements, he is also responsible for being a part of the group that established the Independence Party of NY. In 2009, Golisano disclosed his plans to reside in Florida so that he could avoid the NY state tax system, which would in turn put more of the profits in his pocket.

Thomas Golisano Net Worth

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3.3 billion USD, as of 2018

Thomas Golisano Today

Golisano lead Paychex to success as the President/CEO and today, he leads as the Chairman. His other notable involvements include the Rochester Institute of Technology, in addition to a number of not for profit organizations and private companies. He has also managed to create his own charitable organization, the B. Thomas Golisano Foundation, of which he is also one of the board members. In addition to his list of already impressive accomplishments, he is an extremely giving philanthropist and donates very large sums of money to Golisano Children’s Hospital as well as many other charitable organizations.

What You Can Learn

Golisano had an idea and made a decision to act upon that idea to form his own company. He believed in himself and took a chance on himself, which would years later, payoff. Along the way, he remained focused and had a clear vision of what he wanted his company to be and where he wanted to be in his life. He stuck to his principles and used his intelligence and skills to make very smart decisions to grow his company. He never allowed any distractions to draw him away from his ultimate plan for his company, he always made his plan his first priority. Golisano is living proof that anyone can make their dreams come true. All it takes is passion, dedication, and hard work, in addition to an idea and a very smart and focused plan to develop and execute that idea.

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Brian Meiggs
Brian Meiggs
Brian is the chief editor of Finance Write and is a personal finance expert who has spent the last few years writing about how Millennials can make smarter money moves. He has been quoted in several online publications, including Yahoo! Finance, NASDAQ, MSN Money, AOL, Discover Bank, GOBankingRates, Student Loan Hero, Fit Small Business, Cheapism, SmartAsset, Bankrate, RISE Credit, AllBusiness, Cheddar, Commonbond, Niche, Rewire, Credit Donkey, Debt.com, and more. He uses the free Personal Capital app to manage his cash flow and net worth.

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