Roger Penske Net Worth, Career, Personal Life and Achievements

Roger Penske Net Worth  $2 Billion

A talented entrepreneur and notable business personality, Roger Penske is an American billionaire who has made his wealth from a wide range of investments and business enterprises.

He is also associated with racing and is an ex-racer. Penske is the founder, chairman, and chief executive of Penske Corporation, a privately held, diversified transportation services company whose subsidiaries are active in a variety of industry segments, including professional motorsports, transportation logistics, retail automotive, truck leasing, and others.

Penske Corp. manages businesses with consolidated revenues of over $32 billion, operating in more than 3,000 locations and employing over 60,000 people worldwide.

His fortune places him on the list of the world’s billionaires, and here’s his life and success story.

Early Life: Childhood, Education

He was born Roger Searle Penske on February 20, 1937, in Shaker Heights, Ohio, the United States. His father, Jay Penske, was a wealthy corporate executive for a metal company and encouraged Roger to become an entrepreneur.

Starting from his days as a teenager, Roger Penske bought older cars, reconstructed them, and sold them making gains from his family’s residence in Cleveland, Ohio.

He attended Shaker Heights High and completed his studies there in 1955. He then spent the next four years studying at Lehigh University for a bachelor’s degree.

However, he dropped out of school and continued his profitable business of modifying used cars and selling them for overall profit.

Professional Life: Car Racing & Business Career

Beginning in 1958, Roger was able to sell thirty-two cars over the course of ten years. It was also around that time that he began racing.

By 1960, Roger was a famous racing personality. He had several wins and accolades to his name. In 1963, he competed in two Formula 1 Grand Prix tournaments and also went on to win his first NASCAR Pacific Coast Late Model Race.

He continued racing for two additional years before retiring from professional car racing in 1965 to give his full attention to his business dealings.

Mr. Roger Penske has been a practical-minded businessperson right from the time he was into the trade of selling modified cars back in the 60s.

He achieved comparable success in both his racing and business endeavors.

His work ethos is a decisive factor that has helped him achieve an impactful position both in the business and racing worlds, and surely one cannot think of Auto-racing in the US without Penske’s contribution.

His business conglomerate controls Penske Transportation Solutions, Penske Automotive Group, Penske Performance, Incorporated, and Penske Performance Corporation.

Penske Transportation Solutions includes Penske Vehicle Services, Epes Transport Systems, Penske Logistics, and Penske Truck Leasing.

A leading global provider of transportation services, Penske operates over 340,000 vehicles and serves customers from over 3,000 locations in North America and South America, Asia, Europe, and Australia.

It boasts product lines that include supply chain management solutions, transportation and warehousing management, used truck sales, commercial and consumer truck rentals, full-service truck leasing, and contract maintenance.

His Penske Automotive Group is an international transportation services provider that operates automotive truck dealerships, commercially, mainly in the United Kingdom, Canada, the United States, and Western Europe, and distributes commercial vehicles, diesel and gas engines, power systems, and other related parts and services primarily in Australia and New Zealand.

The Penske Auto Group employs more than 23,000 people worldwide, is a Fortune 500-listed company, a member of the Russell 1000 and Russell 3000 indexes, and is listed by Fortune magazine as one of the World’s Most Admired Companies.

The Penske Performance Company carries out operations related to professional racing. It includes teams currently competing in the World Endurance Championship, NTT INDYCAR SERIES, and the NASCAR Cup Series under the “Team Penske” banner.

Penske Entertainment Corporation is a subsidiary of Penske Corporation. It owns IMS Productions, the Indianapolis Motor Speedway, and the NTT INDYCAR SERIES. IMS Productions is a top-rated video service and production company.

Personal Life: Family, Relationships, Private Interests

Mr. Penske has been married twice in his life. First, he wedded Lisa Stouffer, with whom he has two children named Roger Jr. and Gregory. He is married to his present wife Kathy Penske, with whom he has three children named Blair, Mark, and Jay Penske.

Roger is also an active philanthropist. He is known for his numerous contributions to a number of charitable causes in the United States and overseas.

Achievements: Awards & Honors

This iconic businessman has registered a considerable number of accomplishments in his career line, both as a businessman and as an Entrepreneur.

In 1998, he became an inductee of the International Motorsports Hall of Fame. He was inducted into the Motorsports Hall of Fame of America in 1995 and was also inducted into the Auto Racing Hall of Fame.

He continued to register wins in 2015 with an induction into the Automotive Hall of Fame.

Moreover, he has been recognized in countless journals and has been recognized by many organizations as one of the most inspirational and successful businesspersons that have come from the United States.

Roger Penske Net Worth: Salary, Income Sources, Assets

As of this writing, Roger Penske’s net worth is an impressive 2 billion dollars. Available records show that his businesses generate revenues topping $26 million annually and thus amount to his substantial fortune.

He owns a striking car collection of both purchased and modified exotic autos, as a part of his incredible, completely-deserved fortune.