Roger Searle Penske is known as Roger Penske. He is a successful American businessman and entrepreneur. He is the founder of Penske Corporation, a highly diversified transportation services company, and Team Penske.
Here at World Celebrity Net Worth, we delve into Roger Penske net worth 2023, providing you with an overview of his vast wealth and the factors contributing to his financial success.
What is Roger Penske Net Worth and Salary 2023?
According to reports, Roger Penske had an estimated net worth of $3.2 billion in 2023. This impressive figure is a result of his successful career as a former race car driver and his entrepreneurial ventures in the automotive industry.
Penske’s primary source of income comes from his publicly-traded car and truck dealer company, Penske Automotive Group.
In terms of salary, Roger S. Penske made a total compensation of $7,300,613 in the 2022 fiscal year, as reported in their proxy statements. This amount includes a base pay of $1,600,000 with the remaining sum coming from stock awards and other types of compensation.
The CEO pay ratio for Penske Automotive Group in 2022 was 130:1, with the median employee pay being $55,966. Over the years, Penske’s revenue has consistently grown, reaching just north of $28 billion in recent times.
Penske owns many rare American and European automobiles, including a Ferrari FXX, of which only 30 were made.
Read More: Top 100 Richest People In The World 2023
Roger Penske’s Overview
Penske was born in Shaker Heights, Ohio, in 1937. His father, Jay, was a great business manager for a company that made metal parts. He pushed his son to start his own business.
As a youngster, he bought old cars and fixed them up. Then, he sold them from the house his family owned in Cleveland, Ohio, for a profit.
He graduated from Shaker Heights High School in 1955 and Lehigh University in 1959. At Lehigh, he was in the Phi Gamma Delta fraternity.
Roger Penske is the founder and owner of DJR Team Penske, the Indianapolis Motor Speedway, IndyCar, and several other automotive-related businesses.
Penske’s racing career began with hill climbing and road course racing in Porsches before making his first professional racing start at Marlboro Motor Raceway in Upper Marlboro, Maryland.
He competed in two Formula One Grands Prix and won a NASCAR Pacific Coast Late Model race at Riverside in 1963. However, Penske never ran the Indianapolis 500, as he turned down a rookie test with the Dean Van Lines team, which was later taken by Mario Andretti.
In 1965, Penske retired from driving to focus on his first Chevrolet dealership in Philadelphia, Pennsylvania. Since then, he has developed one of the most successful teams in IndyCar Series and NASCAR racing, earning the nickname The Captain.
Team Penske has achieved over 200 race victories, more than 270 poles, and 16 National Championships. The team is best known for its 18 Indianapolis 500 victories, four with driver Rick Mears and three with Helio Castroneves.
As of 2022, Penske’s drivers have won a total of 139 NASCAR Cup Series races. Apart from his racing ventures, Penske is a corporate director at General Electric, was chairman of Super Bowl XL in Detroit, Michigan, and has previously served on the boards of The Home Depot and Delphi Automotive.
His decision to step out of the cockpit and focus on business has significantly impacted the history of American motorsports. Making him one of the most successful figures in the industry.
Penske has five kids: Roger Jr., Gregory, Blair, Mark, and Jay. Two of them are from his first marriage to Lissa, and the other three are from his second marriage to Kathy.
Why is Roger Penske Famous?
Roger Penske gained fame as a former race car driver. He is the founder, chairman, and CEO of the publicly-traded Penske Automotive Group.
He is well-known for its auto dealerships selling new and used cars, as well as its iconic yellow rental trucks.
Throughout his career, Roger Penske has been a driving force in the auto-racing business, amassing a total of 545 major race wins and 621 pole positions.
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What is Roger Penske’s age?
He will be 86 years old in 2023.
What is Roger Penske’s wife?
He got married twice. The first wife’s name was Lissa Stouffer. The second wife’s name is Kathy Penske.
Roger Penske’s net worth in 2023 stands as a testament to his remarkable career and entrepreneurial prowess.
As a legendary figure in both the motorsports and business worlds. Penske has not only amassed great wealth but has also left an indelible mark on the industries he has touched.
If you want to know about him, check out our website WCnetworth.com for more information. Thanks for reading!