Top 10 richest NASCAR teams
Discover which NASCAR teams made it to the top 10 of the richest teams and how much they're worth.
NASCAR cars in a line (Credits: NASCAR.com)
NASCAR is one of the most popular and lucrative motorsports in the world. The sport has produced some of the wealthiest team owners who invest millions of dollars into building winning teams. The financial success of NASCAR teams is largely dependent on their ability to secure sponsorships, prize money, and merchandise sales.
Every owner dreams of becoming the best in the business, but few succeed, Finanacial backing and stability play a major part in that success. Dive in and take a close look at the top ten richest NASCAR teams ranked in increasing order; also, discover how they have managed to dominate the sport over the years and their downfalls as well.
Here is the list of the 10 richest NASCAR team owners
10. JR Motorsports: $22 Million
JR Motorsports is a NASCAR racing team that began in 1998 as a marketing subsidiary for Dale Earnhardt’s race team. The team has evolved into a strong racing force with a net worth of $22 million over the years. Despite being the tenth-richest team in NASCAR, JR Motorsports has made major progress in the sport, winning three championships and multiple Xfinity Series races with a quality driver lineup.
The team has tasted success in the NASCAR Xfinity Series, winning three titles and several races with a quality driver lineup that includes Chase Elliott, William Byron, and Justin Allgaier. Despite tough competition, the squad has remained competitive and relevant, with no substantial performance decline.
9. LEGACY MC: $29 Million
Richard Petty Motorsports (RPM) is a NASCAR team founded by the legendary Richard Petty and businessman Andrew Murstein in 2009. Over the years, the team has had big-name drivers such as Marcos Ambrose, Aric Almirola, and Bubba Wallace. In 2014, Almirola made history by becoming the first African-American driver to win a Cup Series race since 1963, after winning the rain-shortened Coke Zero 400 at Daytona International Speedway.
However, the team has faced its share of struggles in recent years and has not been able to replicate that success on the same level. The team’s worth stands at $29 million, and it continues to compete in the Cup Series with Erik Jones as its driver. Despite his incredible success as a driver, Petty’s journey as a team owner has not been as successful. But RPM continues to push forward, striving for a return to glory in the highly competitive world of NASCAR racing. Before the 2021 NASCAR Cup Series season, Richard Petty sold his majority stake in Richard Petty Motorsports to Maury Gallagher, and the team became Petty GMS Racing. It was rebranded as LEGACY MC in 2022 after Jimmie Johnson became a minority owner.
8. Chip Ganassi Racing: $63 Million
Chip Ganassi Racing (CGR) began as an open-wheel squad and has since grown to become one of the most powerful organizations in IndyCar. Chip Ganassi Racing was founded in 1990 and entered NASCAR in 2001, running at least two cars every season thereafter. In addition to racing, Ganassi was a minority owner of the Pittsburgh Pirates baseball team and a vice president of FRG Group, his father’s company that was involved in commercial real estate, transportation, and other areas.
Since its inception, the team has accomplished a great deal, including winning two of NASCAR’s most famous races, the Daytona 500 and the Brickyard 400, with driver Jamie McMurray in 2010. Ganassi’s teams have won a total of 21 titles since 1990, with 19 wins across three touring series in 2010, including triumphs in the Daytona 500, the Indianapolis 500, and the Brickyard 400. These accomplishments contributed to Ganassi’s status as the first team owner in history to win all three racing crown jewels in a single season. Chip Ganassi Racing is still a powerful force in racing, with a current net worth of $63 million, but they ended their NASCAR operations in 2021.
7. Team Penske: $135 Million
Team Penske is one of the most successful teams in professional sports history. Roger Penske formed the team in 1966, and it made its NASCAR debut in 1972, winning the Indianapolis 500 that year. Team Penske cars have won over 600 major race wins, 670 pole positions, and 43 championships in open-wheel, stock car, and sports car racing competitions.
Over the years, the team has had multiple prominent drivers, including Mark Donohue, Rick Mears, and Rusty Wallace. The team presently has three Cup Series cars in NASCAR, with drivers Austin Cindric, Ryan Blaney, and Joey Logano. Logano won the Cup Series championship in 2018 and 2022. Brad Keselowski won it in 2012. In addition to the NTT INDYCAR SERIES, the team competes in the IMSA WeatherTech SportsCar Series and the FIA World Endurance Championship.
6. 23XI Racing: $150 Million
23XI Racing is a NASCAR team founded by NBA icon Michael Jordan with three-time Daytona 500 winner Denny Hamlin in the fall of 2020. The team’s name is pronounced “twenty-three eleven,” It fields Bubba Wallace’s No. 23 Toyota Camry. In 2022, the team added the No. 45 Toyota Camry and signed experienced driver Kurt Busch to drive it. On October 4, 2021, the squad won its maiden race at Talladega Superspeedway.
23XI has won three races in its two seasons of competition. In October 2021, Bubba Wallace led 23XI to their first victory. The squad won twice in 2022. One with Bubba Wallace and the other with Kurt Busch, their second vehicle and driver. The number 23 relates to Jordan’s uniform number during his tenure in the NBA, as the name suggests. Toyota has been hired by 23XI to prepare the vehicle. They not only develop the engine but also give technical support. Tyler Reddick has replaced Kurt Busch, who pulled from the competition after suffering a concussion after his Toyota tumbled up the track and drove hard into the wall. The car jerked around, and the nose smacked into the wall. Tyler now bears the 45 number.
5. RFK Racing: $157 Million
RFK Racing, formerly known as Roush Fenway Racing, was founded by Jack Roush in 1988, with Mark Martin as their first NASCAR Cup Series driver. Their first Cup Series win came in 1989, which marked the beginning of a fruitful partnership between Roush and Martin. The team achieved further success in the 1990s and 2000s, securing championships with celebrated drivers such as Jeff Burton, Matt Kenseth, and Kurt Busch. RFR became RFK Racing in 2022 after Brad Keselowski joined them as a minority owner and driver.
Several noteworthy drivers have driven for the squad throughout the years, including Greg Biffle, Carl Edwards, and Jeff Burton. Despite this, Carl Edwards is undoubtedly the team’s most successful driver, having won two Xfinity Series titles and 23 Cup Series races. His spectacular 2011 season, in which he won one race and placed second in the championship, demonstrates his driving talent. RFK Racing’s pedigree and accomplishments in NASCAR continue to make them a powerful opponent on the racing circuit, despite recent setbacks.
4. Richard Childress Racing: $170 Million
Richard Childress Racing (RCR) was formed by Richard Childress in 1969. The team’s first victory came in 1983 at Riverside International Raceway, with driver Ricky Rudd. Throughout its existence, RCR has won 16 titles and 200 races throughout NASCAR’s top three divisions. Several noteworthy drivers have driven for the team throughout the years, including Dale Earnhardt, Kevin Harvick, and Jeff Burton.
With RCR, Earnhardt won six of his seven Cup Series championships, and Harvick won the Cup Series championship in 2014. The club, however, has suffered in recent years, with no Cup Series victories since 2018. The team continues to participate in the Cup Series and the Xfinity Series, with two Cup Series teams and two teams in the Xfinity Series
3. Stewart-Haas Racing: $180 Million
Stewart-Haas Racing is a professional stock car racing team based in the United States that presently participates in the NASCAR Cup Series, NASCAR Xfinity Series, and eNASCAR Coca-Cola iRacing Series. Tony Stewart and Gene Haas, both members of the NASCAR Hall of Fame, launched the team in 2009 and are now worth $180 Million, making them the third richest team in NASCAR. Prior to Stewart, Haas CNC Racing has been participating in NASCAR since 2002.
The team’s first victory was with driver Ryan Newman in 2011. Since then, the team has won two Cup Series championships, one in 2011 with Stewart and one in 2014 with Kevin Harvick. Since joining the team in 2014, Harvick has been the team’s most successful driver, winning 28 races and finishing in the top three in the championship standings five times.
2. Joe Gibbs Racing: $225 Million
Joe Gibbs Racing was established in 1991 by ex-football coach Joe Gibbs but struggled to find its feet in NASCAR. It wasn’t until 1996 that they finally took their first win of the season and finished 11th in the standings. The following year, they improved to 7th, with their only victory coming in the final race. J.D. Gibbs, Joe’s son, took over as team president in 1997, and the team began to flourish.
Over the years, JGR has become a dominant force in NASCAR, winning five Cup Series Championships and four Xfinity Series Championships, earning more than 200 wins across all three NASCAR national series. They have produced seven driver’s championships, cementing their position as one of the strongest teams in NASCAR.
1. Hendrick Motorsports: $350 Million
Hendrick Motorsports was birthed in 1984 by Rick Hendrick, formerly the proprietor of All-Star Racing, which he later rebranded to its current identity the following year. Early on, the team’s performance was unsatisfactory, only registering their first win in 1986. However, the team evolved and became increasingly successful in the late 80s and early 90s with the addition of Jeff Gordon as a driver.
Gordon clinched his first Cup Series championship in 1995 and went ahead to bag three more championships in 1997, 1998, and 2001, all with Hendrick Motorsports. The team is currently the richest team ever in NASCAR, boasting a whopping worth of $350 Million. Hendrick Motorsports boasts a stellar record in NASCAR history, with 16 driver’s championships, 339 wins, and 298 poles across all three significant NASCAR series.
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