Richard Lee Petty is known by the nickname The King. He is one of the most renowned figures in NASCAR history.
Here at World Celebrity Net Worth, we will explore all you need to know about Richard Petty net worth, including his earnings from racing, endorsements, business ventures, and other sources of income.
What is Richard Petty Net Worth and Salary in 2023?
In 2023, Richard Petty had an estimated net worth of $65 million. This impressive figure is not solely derived from his earnings during his illustrious NASCAR driver career, which spanned from 1958 to 1992.
Petty’s wealth can be attributed to a combination of factors. It includes his success on the racetrack, wise investments, and various business ventures.
He has a family-owned company with annual revenue of $20 million and a valuation of $29 million.
In 2021, Petty sold his majority stake in the company for just over $19 million, further contributing to his net worth.
His annual salary is believed to be around $10 million. With endorsement deals from well-known brands such as Dodge and Mobil adding to his wealth.
Richard Petty’s Overview
Richard Lee Petty was born on July 2, 1937, in Level Cross, North Carolina. His family had a strong connection to racing.
His father, Lee Petty, was a three-time Cup Series champion. And the founder of the renowned Petty Enterprises racing team.
Growing up surrounded by this racing legacy. Richard Petty’s entry into the sport seemed almost inevitable.
His car racing career began in the former NASCAR Grand National and Winston Cup Series from 1958 to 1992. Competing in the Cup Series, then known as the Grand National Series.
In his first year, he managed to secure nine top-10 finishes. Then he was subsequently named Rookie of the Year.
Petty’s first taste of victory came in February 1960 when he won his first Cup race in Charlotte, North Carolina.
This triumph was followed by his first Daytona 500 win in 1964, which also marked the beginning of his first Cup championship-winning season.
However, in 1965, NASCAR introduced new rules that deemed the 426-inch hemispherical-head engine in Petty’s Plymouth illegal, leading him to temporarily leave stock-car racing for a year to explore the drag-racing circuit.
Richard Petty came back to the sport in 1966. The following year, in 1967, he had an amazing season and won 27 races, which is a record in stock-car racing. He also won his second Cup Series championship that year.
This incredible feat solidified Petty’s status as The King of stock-car racing and set the stage for his illustrious career.
His combined race win total of 224 includes 60 Cup Series wins, 102 Xfinity Series wins, and 62 Camping World Truck Series wins.
Richard Petty’s impact on the sport of NASCAR goes beyond his impressive statistics, as he and his team introduced innovations such as roll bars, nylon window screens, cooled helmets, and two-way radios to stock-car racing.
Petty stopped competing in 1992. He was recognized for his achievements by being inducted into two halls of fame: the International Motorsports Hall of Fame in 1997 and the NASCAR Hall of Fame in 2010.
His legacy continues through his son Kyle and grandson Adam, who also pursued careers in NASCAR racing.
Richard Petty married Lynda Owens in 1958. They had four children, including Kyle Petty. Who followed in his father’s footsteps as a professional race car driver.
Tragically, Lynda passed away from cancer on March 25, 2014, at their home in Level Cross.
Richard Petty’s family continues to reside in his hometown. He is still very much involved in the world of car racing as a team owner in the NASCAR Cup Series. He was the owner of Petty’s Garage, a car restoration and modification shop.
Why is Richard Petty Famous?
He won a record 200 races in his career and seven NASCAR Cup Series championships. He was named one of NASCAR’s 50 greatest drivers in 1998.
His success on the track made him an icon of motorsports and earned him the nickname The King.
FAQs about Richard Petty
What are some fun facts about Richard Petty?
He won 27 of the 48 races that were held during the season, came in first 10 times in a row, came in second 7 times, and won his second NASCAR title.
What is Richard Petty’s connection to NASCAR?
Lee Petty, being a prominent figure in the early days of NASCAR.
Richard followed in his father’s footsteps and became an integral part of the sport’s growth and popularity. He competed in NASCAR for over three decades.
What is Richard Petty’s most famous race?
Richard Petty’s most famous race is arguably the 1979 Daytona 500, which became known as the Great American Race.
In a thrilling finish, Petty engaged in a dramatic battle with Donnie Allison and Cale Yarborough.
On the final lap, Allison and Yarborough wrecked each other, clearing the way for Petty to take the lead and secure his sixth Daytona 500 victory.
In conclusion, Richard Petty’s net worth in 2023 stands as a testament to his remarkable achievements in stock car racing and his shrewd business ventures.
Petty has not only amassed an impressive number of victories but has also leveraged his fame to create a solid financial foundation.
If you want to know about him, check out our website WCnetworth.com for more information. Thanks for reading!