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MotorSport&more! ■ How Roger Penske Built a $6.2 Billion Fortune Through Racing, Cars, and Smart Investments! Roger Penske Net Worth 2024, Salary, Earning and Stats: Roger Penske, a renowned American business magnate and racing team owner, has an estimated net worth of $6.2 billion in 2024, derived from his diverse business ventures including Penske Corporation, automotive dealerships, and his successful motorsports teams. By Karan Mallya Roger Penske, the renowned American business magnate and auto racing icon, has amassed a fortune estimated at $6.2 billion as of October 2024. His wealth stems from his role as the founder and chairman of Penske Corporation, a diversified transportation services company. The corporation’s holdings include Penske Automotive Group, a publicly-traded company operating automobile dealerships across the United States, Canada, and parts of Europe. Penske’s business acumen extends beyond automotive retail. His empire encompasses Penske Truck Leasing, a major player in truck sales, leasing, and fleet maintenance. In a significant move that solidified his status in the racing world, Penske acquired the Indianapolis Motor Speedway and IndyCar racing series in November 2019 for an undisclosed sum. Early Life and Education Born on February 20, 1937, in Shaker Heights, Ohio, Roger Searle Penske grew up in a family that valued entrepreneurship. His father, Jay, a successful corporate executive, encouraged young Roger’s business instincts. As a teenager, Penske began buying, repairing, and selling used cars from his family’s home in Cleveland, foreshadowing his future in the automotive industry. Penske’s educational journey took him to Lehigh University, where he graduated in 1959. During his time at Lehigh, he was a member of the Phi Gamma Delta fraternity, building connections that would serve him well in his future endeavors. Racing Career and Transition to Ownership Penske’s passion for racing began with hillclimbing events and quickly progressed to road course racing. He competed in two Formula One Grands Prix and even won a NASCAR Pacific Coast Late Model race at Riverside in 1963. Despite his success behind the wheel, Penske made the strategic decision to retire from driving in 1965 to focus on his first Chevrolet dealership in Philadelphia. This transition marked the beginning of Penske’s illustrious career as a team owner. Penske Racing debuted in 1966 at the 24 Hours of Daytona, setting the stage for decades of dominance in various racing series. Under Penske’s leadership, the team has secured an unparalleled 20 victories at the Indianapolis 500, cementing his status as “The Captain” in the racing world. Business Expansion and Achievements #RogerPenske #PenskeRacing #PenskeAutomotive #MotorSport

https://lnkd.in/ez8fqttt Congratulations to David Wilson on a long and distinguished career with Toyota North America and Toyota Racing Development USA, and to Tyler Gibbs as the incoming head as Toyota continues its success in NASCAR! I've had the pleasure of working directly with Toyota/TRD executives including Tyler over many years in their long, successful partnership with #NASCAR (and other racing series) from many roles. See comments for some memorable highlights and experiences with Toyota. Tyler Gibbs is an ideal choice to follow Lee White and David in leading Toyota and TRD's North American programs; I'll share one example of why. When I joined Braun Racing, I was hired to resolve numerous significant operational issues, including disputes between the team and Toyota/TRD that had already left both parties (despite their on-track success) having accepted their relationship would terminate at the end of that season. Less than 6 months later, we announced a new multi-year contract between Toyota and Braun to continue the partnership. As with any high-level contract or business negotiation, it takes two sides to be successful - and in that case, my mirror was Tyler Gibbs, whose skills, patience, and professionalism without question were equally responsible for that success story. He's continued to be an even greater part of Toyota and TRD success in the years since across all the key areas of the business. #toyota #trd #racing #nascar #motorsports #contracting #businessdevelopment #management

In your dealerships, do EVs seem to be more of a luxury play, is it a niche market right now? Roger Penske: "I would say it's really based on price. With higher interest rates, it's really had an impact on the business. We're seeing leasing coming back. I think that we're going to be seeing people maybe stepping down from a Q7 to a Q5, until we see the interest rates coming down. But today there is a pent-up demand on new vehicles. We need more used vehicles in the market. That's been a big thing. It's impacted our profitability over the last three years." https://lnkd.in/eRyWe8s9

Roger Penske stated that the demand for new vehicles is high these days, but due to higher interest rates, people are opting for leasing instead of buying. As a result, there is a need for more used vehicles in the market. The interest rates are making people choose lower-priced cars like Q5 over Q7. The impact of this trend on the business has affected profitability over the last three years. https://lnkd.in/eRyWe8s9

Roger Penske on MoTowns's renaissance! ■  Roger Penske came to Detroit in the early 1970s when he opened a Chevrolet dealership. February 25 2024 Detroit — Henry Payne The Detroit News He stayed, building the Penske Corp., which today employs 17,000 people at 3,200 locations worldwide, including car dealerships, truck rental outlets and a formidable racing team that has won 19 Indy 500s and other titles. “I was bitten by the bug,” Penske said, explaining his fondness for the Motor City to NBC Sports broadcaster Mike Tirico on Thursday at the Downtown Detroit Partnership's annual meeting at the MGM Grand Casino. “I was a car guy, it was in my DNA.” Detroit News auto critic Henry Payne sat down with “The Captain” — as his troops fondly refer to him — for a wide-ranging discussion covering everything from Detroit to IndyCar to electric vehicle mandates to his bid to win the 24 Hours of Le Mans, one of the few trophies that has eluded his trophy case. Q: In your dealerships, do EVs seem to be more of a luxury play, is it a niche market right now? A: I would say it's really based on price. With higher interest rates, it's really had an impact on the business. We're seeing leasing coming back. I think that we're going to be seeing people maybe stepping down from a Q7 to a Q5, until we see the interest rates coming down. But today there is a pent-up demand on new vehicles. We need more used vehicles in the market. That's been a big thing. It's impacted our profitability over the last three years. Q: Go back again to the 1970s and the big impact that government regulation and the oil embargo had on motor racing. The 1974 Daytona 24 Hour race was canceled and NASCAR shortened races to conserve fuel. Fast forward to today — governments want to ban gas engines but racing series are thriving. Why is racing ascendant in the U.S.? A: The fan base is so strong — you have Formula One, NASCAR, IndyCar, IMSA — all (with) different demographics. To me, it’s never been stronger. At Indianapolis (which Penske Entertainment owns) our ticket sales are up 11,000 compared to last year. We’ll have 300,000 people in a single day for the Indy 500. It’s going to be one of the greatest races we've ever had. Q: You are teamed with Porsche in IMSA. Cadillac, Chevy and Ford are also there. Chevrolet and Honda anchor IndyCar. What is it about racing that attracts so many manufacturers? A: I think the racing technology transfers into the passenger car. But even more important is the training of the industry people in Original Equipment Manufacturers (automakers) that get involved in the motor racing product: design, execution, and obviously performance. Those are the things that have kept the OEMs in racing. And guess what? If you win it helps you from a brand perspective . . . with your customer base. #penske #automotive #motown

• Roger Penske stated that the demand for new vehicles is high, but due to higher interest rates, people are opting for leasing instead of buying. • As a result, there is a need for more used vehicles in the market. • The interest rates are making people choose lower-priced cars like Q5 over Q7. • The impact of this trend on the business has affected profitability over the last three years. https://lnkd.in/eRyWe8s9

Exciting news from NASCAR as they gear up to unveil their first-ever EV racecar at the L.A. Coliseum in February. The EV prototype, set to debut at the Clash, marks a notable step toward modernization for the motorsports giant. While NASCAR's commitment to EVs remains uncertain, the move reflects the evolving landscape of electric racing leagues in tandem with mainstream EV adoption. The potential design, featuring a high spoiler for improved performance, hints at a blend of tradition and innovation. As NASCAR navigates this shift, the loyalty of its fanbase and strong OEM relationships with brands like Ford Motor Company and Chevrolet remain integral, emphasizing the enduring connection between racing success and car sales. #NASCAR #EVRacing #ElectricVehicles #Motorsports #FutureOfRacing #CleanTech #Innovation #Sustainability

Suggestion NASCAR is establishing an EV race series for OEMs promoted by Dana White (Thrill One Sports & Entertainment) is a gamechanger. When a promoter like White stated hours ago during a podcast he is about to finalize deal to present/produce/promote an EV race series w NASCAR featuring leading OEMs from around the world that is a gamechanger. One might say “shocking”. White’s statement could be promoter hyperbole, but probably very well received by a CEO of Jim France’s pedigree. Know Adam Stern, Sports Business Journal has reported in the past of White’s growing relationship with NASCAR and partnership with Lorenzo and Frank Fertitti, but note White’s most recent quote in last 24 hours is telling.   “We own Nitro Circus, and we own Travis Pastrana’s Nitro Cross, which is electric car racing. After I do Fourth of July at my house in Maine, I’m flying to NASCAR and we’re doing a deal with NASCAR. We’re going to be the electric series for NASCAR. We’re working on that deal right now.”    Wonder out loud if Jim France’s machine is throwing a monkey wrench into the charter negotiations. Will the OEMs and their representatives like James Campbell (General Motors), David Wilson (Toyota Racing Development USA), Mark Rushbrook (Ford Motor Company), along with courtships of peeps/OEMs like Chuck Schifsky (Honda Racing Corporation USA), stand with the established stock car racing owners they have been dancing with for decades? Or, discard and set the stage for new slate, or cadre, of race team owners brought to the table by White and the Fertittas?   NASCAR, and Jim France, must find a solution to the league which is treading water at best and economically failing at worst. Believed for decades the France Family Group has needed to sell reconstituted league/brand to the charter team owners directly, or allow bridge private equity that could evolve the sport into public stock offering much anticipated by the masses. None of those goals can happen without an agreement on media revenue sharing with the charter teams which continues ad nauseam. Charters are worth $0 until that charter agreement is signed. Full stop.   If NASCAR is to return to its roots as it looks for path to the future, then concept of “win on Sunday… sell on Monday” bodes well w racing names like France, Childress, Hendrick, Earnhardt (Jr!) and now Jordan (23), were to endorse something automakers, and society in general, want – clean, quiet, fuel efficient and sustainable, EVs (18% of new car sales in U.S.).   https://lnkd.in/ghdNp5mt https://lnkd.in/g5cvfVaF   We all knew NASCAR had been developing an OEM agnostic car for years which was debuted in Los Angeles w David Ragan at the wheel. Let's go EV racing with teams that know how to race!

Do you know the story of the man who perfected the Chevrolet Camaro? Well, GM didn’t originally intend for the Camaro to be a performance muscle car, but Don Yenko showed the public what this car could do! Learn more: 📖➡️ https://bit.ly/3YDvuB2 | #ClassicCar | #ChevyCamaro | #FindYours

In the thrilling realm of motorsports, the roar of engines, the speed of cars, and the thrill of competition captivate undeniably. It's that same electric energy that fuels us here at Zeigler, we're not just a company that sells products; we're a company that sells excitement. It's that shared love for high-speed thrills and fierce competition that makes our partnership with the racing world a natural fit. Beyond shared interests, this partnership aligns with those sharing our values—striving for excellence and never settling. Like race car drivers pushing vehicles to the limit, we aim to constantly push boundaries in our field. So, what do you think about this blend of speed, competition, and shared values? We're eager to hear your thoughts. Like and save if you're excited about this thrilling partnership and want to join us on this journey to victory in the racing world! Tune in to the full episode here: https://lnkd.in/g56ZhbP8 #MotorsportsPartnership #BrandExpansion #CompetitiveDrive