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Roger PenskeOwner of the highly successful Penske Racing team and the Penske Corporation
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Biography of Roger Penske
Roger Penske is a renowned American billionaire and the owner of the highly successful auto racing team, Penske Racing, as well as the Penske Corporation and several other automotive firms. He is also a corporate director of General Electric and previously served as the chairman of Super Bowl XL.
Early Life and Education
Roger Penske earned his degree from Lehigh University in Pennsylvania and was a member of the fraternity organization, Fraternity of Phi Gamma Delta. He graduated as a certified specialist from Lehigh University and went on to embark on a successful career in the automotive industry.
Career
Penske began his career in 1958, when he started racing cars. Within two years, he had gained significant recognition and won numerous prestigious races. In 1965, Penske retired from racing and opened his first Cadillac dealership in Philadelphia, which laid the foundation for what is now known as Penske Racing.
In 1969, Penske Racing participated in the Indianapolis 500, marking the beginning of the team's involvement in a wide range of racing competitions, consistently achieving top positions. In 1982, Penske became the chairman of Penske Truck Leasing, expanding his business interests to include trucks.
Currently, Penske oversees NASCAR racing, where renowned drivers such as Kurt Busch, Ryan Newman, and Sam Hornish Jr. compete. Additionally, he is in charge of the Indy Racing League team.
Penske's business ventures also extend beyond the racing industry. He recently acquired an old Matsushita factory in North Carolina, which used to manufacture air conditioners. Under his leadership, the massive facility now houses all of Penske's racing cars within its over 105-acre premises.
Furthermore, Penske is known as a prominent car collector, with a vast collection of rare automobiles. Among his collection are the luxurious Ferrari FXX, of which only thirty were produced.
Net Worth
As of Forbes' rankings of the world's most influential people, Roger Penske's net worth is approximately $2.2 billion.
