Top 5 Richest NASCAR Team Owners 

Motorsports always has been the playground of the wealthiest as financial sustainability is the first of many essential for a racing team’s success.


Top 5 Richest NASCAR Team Owners 

NASCAR (Credits: Beyond the Flag)

Traveling at high speeds is always thrilling. And NASCAR is all about speed and thrill. People always look forward to an adrenaline boost. They chase what excites them. NASCAR fans can live vicariously through their drivers racing around the track at high speed. It is one of the most-watched sports leagues in the US. Each year the view count only increases. This makes it good for business.

NASCAR races are intense and exciting. The high-speed action attracts millions of viewers. The races are often dramatic and filled with anticipation. There is usually an unexpected turn of events that keeps the fans glued to their seat. NASCAR fans, like other sports fans, are loyal and passionate. This makes NASCAR a good business. The drivers earn pretty well. But what about the team owners? Let’s find out.

ADVERTISEMENT

Here is the list of 5 richest NASCAR team owners

5. Dale Earnhardt Jr. – $400 Million

Earnhardt Jr. has a net worth of $400 million. His successful racing career and, of course, his team JR Motorsports contributed to it. The former stock car racing driver is the current team owner of JR Motorsports. The team was founded in 1998. It initially started as a sponsor deals business. In 2002, Dale Earnhardt Jr turned the business into a race team.

IMG COM 20230409 1943 20 7462
Dale Earnhardt Jr. Image via NASCAR.

JR Motorsports competes in the NASCAR Xfinity Series, CARS Tour, and eNASCAR Coca-Cola iRacing Series. It also competes occasionally in the NASCAR Advance Auto Parts Weekly Series. Dale Earnhardt Jr, the team owner and winner of 26 Cup Series races, was also named NASCAR’s Most Popular Driver for 15 years, consecutively. 

4. Maury Gallagher Jr. – $400 Million

Gallagher Jr. has a net worth of over $400 million. It is mostly from his ownership and positions in Allegiant Travel Company. The American businessman co-owns Legacy Motor Club. The team was previously known as Petty GMS Motorsports. It is also co-owned by the NASCAR legend Jimmie Johnson. In 2021, Gallagher bought a majority interest in the former Richard Petty Motorsports. The deal was made for $19 million. It was only after this purchase the team was renamed Petty GMS Motorsports.

ADVERTISEMENT
IMG COM 20230409 1943 20 6651
Maury Gallagher Jr. Image via Las Vegas Review.

In 2022, Richard Petty made a big decision and sold all shares of Petty Motorsports to Maury Gallagher. The team rebranded to Legacy Motor Club in 2023. However, not all of Gallagher’s wealth comes from the team. His successful business venture, the Allegiant Travel Company, has contributed majorly to his net worth. He is now one of the richest individuals in the United States.

3. Rick Hendrick- $1 Billion

Rick Hendrick is a former NASCAR driver and owner of the prestigious Hendrick Motorsports team. He has a net worth of $1 billion. The team was founded in 1984 by Rick himself. It holds the NASCAR record for 294 Cup Series race wins. Hendrick Motorsports has 12 NASCAR Cup Series championships and 16 National Series Championships.

IMG COM 20230409 1943 20 7883
Rick Hendrick. Image via AP News.

Rick Hendrick is also the co-founder of JR Motorsports. Hendrick had been inducted into the NASCAR Hall of Fame and the International Motorsports Hall of Fame. The team is already popular, and his Hendrick Automotive Group only adds to the success. He owns more than 100 car dealerships nationwide. Hence, it is right to say Rick Hendrick has accumulated his wealth by being a businessman and chairman

ADVERTISEMENT

2. Micheal Jordan- $3 Billion

Micheal Jordon has an estimated net worth of about $3 billion. He is the co-owner of 23XI Racing. The former American basketball player is known for his successful career playing for the Chicago Bulls. He won six NBA (National Basketball Association) championships. Jordon was also named NBA’s Most Valuable Player (MVP) five times. He is one of the most successful athletes. He had a significant impact on the sport. Jordon co-owns the NASCAR team 23XI Racing Cup Series team with Denny Hamlin.

IMG COM 20230409 1943 20 8314
Micheal Jordon. Image via The Spun.

In 2020 there were rumors that Micheal Jordan and Denny Hamlin were looking to purchase a NASCAR team. Though the rumors were shut down, Hamlin was intrigued. Denny Hamlin met with Jordon and proposed a plan. Eventually, the duo built 23XI Racing from scratch. The team made its debut in 2021 at the Daytona 500. It has 4* race victories and 1 pole position. Micheal Jordon’s wealth does not come only from his NASCAR team. His successful endorsements with big brands like Nike, Coca-Cola, and McDonald’s contribute to his wealth. He also has an ownership stake in the Charlotte Hornets NBA team.

1. Roger Penske – $3.2 Billion

Roger Penske has a net worth of about $3.2 billion. This makes him the richest NASCAR team owner. The American businessman is a motorsports icon. He is the owner of Team Penske. His money comes from his successful business ventures and real estate investments. Penske began his career as a car dealer. It was only later he expanded into other industries, including transportation and truck leasing. Roger Penske is also involved in sports and entertainment events. Team Penske competes in the IndyCar Series, NASCAR Cup Series, and IMSA SportsCar Championship. They also participate in the FIA World Endurance Championship. Team Penske has over 500 victories and 40 championships in all auto racing.

ADVERTISEMENT
IMG COM 20230409 1943 20 9266
Roger Penske. Image via Forbes.

It is no doubt that NASCAR team owners earn millions and billions of dollars. However, it must be noted that their wealth does not come from only owning the teams. They have various means of income flow. The most successful people usually do. NASCAR is a widely known sport and generates a lot of revenue. The team owners hire the best drivers to bring success to their team. They are passionate and heavily invested in the sport. It reflects in their work. The five of the wealthiest NASCAR team owners mentioned had to work their way and climb the ladder. They all started somewhere small and serve as a source of inspiration to many. 

In case you missed it:

Was this article helpful?

Thanks for your feedback!