Roger Searle Penske is an American entrepreneur, Founder, Chairman and the CEO of Penske Corporation, which is a transportation provision company. He is also the CEO of self-developed Penske Automotive Group. He is a retired professional car racer who owns numerous businesses as well as many pro racing teams, including Team Penske and DJR Team Penske (an association between Dick Johnson Racing Team and Roger Penske). To know more about his dynamic career and the resultant net worth 2018 that has made him a force to reckon with in the business world, keep reading.
Mr. Roger was born on the 20th of February, 1937 to an executive father in Shaker Heights, Ohio. It was perhaps, his father who influenced his business acumen from a very young age. He dropped out from Lehigh University and began modifying used cars and selling them at an overall profit.
Beginning in 1958, he was able to sell 32 cars over the course of a decade. That was also the time when he began racing, and by 1960, he was a famous racing personality. He had several victories to his name. In 1963, he competed in two tournaments of Formula 1 Grand Prix and also, went on to win the NASCAR Pacific Coast Late Model Race. He continued to race for another two years and then took retirement from professional car racing in 1965 to concentrate on his business dealings.
He got married twice, first to Lisa Stouffer, with whom he has two kids named Roger Jr. and Gregory, and then to his present spouse Kathy Penske, with whom he has three named Blair, Mark and Jay Penske. He is also an active philanthropist. Not just this, with his influential and diplomatic prowess, he was also deemed fit as a potential candidate for the position of Mayor of Detroit, a post he respectfully declined.
After Roger’s retirement in 1965, the budding entrepreneur formed one of the most successful teams in the IndyCar series (an open-wheel racing tournament) and NASCAR racing (an auto-racing sanctioning and operating company). His first team was initially introduced in 1966, but it took part in Indianapolis 500 only in 1969 and went on to win their first victory in 1972. The team’s first NASCAR win came in 1973. As an owner, he gathered the most wins in Indianapolis 500 (16 victories). In 2015, he became a stakeholder of Dick Johnson Racing Team which, after the deal, became DJR Team Penske.
Awards and Achievements
Roger Penske has registered considerable achievements not only as a car racer but as an Entrepreneur as well.
• 1998- Inducted into International Motorsports Hall of Fame.
• 1995- Inducted into the Motorsports Hall of Fame of America.
• Inducted in Auto Racing Hall of Fame.
• 2015- Inducted into Automotive Hall of Fame.
Net Worth of Roger Penske
The net worth of Roger Penske is an impressive $1.9 billion. His businesses generate revenues up to $26 million every year and thus amount to his considerable net worth. His astounding car collection of both bought and modified automobiles which includes a Ferrari FXX are also a part of his incredible fortune.
Roger Penske has been a practical-minded businessman right from the time he used to sell modified cars back in the 60s. He achieved equivalent success in both his racing and businesses careers. His work ethos has helped him achieve an impactful position in the racing world, and surely one cannot think of American Auto-racing without Penske’s contribution. People of his talent and caliber are truly a rare find.