Roger Penske

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Roger Penske bigraphy, stories - American businessman, racing driver, and race team owner

Roger Penske : biography

February 20, 1937 –

Roger S. Penske (born February 20, 1937) is the owner of the automobile racing team Penske Racing, the Penske Corporation, and other automotive-related businesses. Penske also owns the most victories as an owner in the Indianapolis 500; 15 owner victories. A winning racer in the late 1950s, Penske was named 1961’s Sports Car Club of America Driver of the Year by Sports Illustrated. After retiring from driving a few years later, he created one of the most successful teams in IndyCar Series and NASCAR racing. He is also known by his nickname of "The Captain".

He also is one of the corporate directors at General Electric and was chairman of Super Bowl XL in Detroit, Michigan. He was previously on the board of Home Depot and Delphi Automotive before resigning to chair the Detroit Super Bowl Committee. He has an estimated net worth of $1.1 billion., Forbes.com. Accessed May 16, 2011. He is a 1959 graduate of Lehigh University in Pennsylvania, where he was also a member of the Phi Gamma Delta fraternity.

Early life

Born in Shaker Heights, Ohio, Penske’s father was a corporate executive for a metal fabrication company and encouraged his son to become an entrepreneur. As a teenager he bought older cars, repaired them and sold them at a profit from his family’s home in Cleveland, Ohio. In 10 years, Penske raced and sold about 32 cars.

Personal life

Roger Penske has five children, two with first wife Lisa and three with second wife Kathy: Roger, Jr, Gregory, Blair, Mark, and Jay Penske.

Complete Formula One World Championship results

(key)

Year Entrant Chassis Engine 1 2 3 4 5 6 7 8 9 WDC Points
1961 John M Wyatt III Cooper T53 Climax Straight-4 MON NED BEL FRA GBR GER ITA USA8 NC 0
1962 Dupont Team Zerex Lotus 24 Climax V8 NED MON BEL FRA GBR GER ITA USA9 RSA NC 0

Business interests

  • Penske Racing – Team Penske (IICS), Penske South (NASCAR), Penske Motorsports (ALMS)
  • Penske Automotive Group (PAG:NYSE – a 40+% stake) – With 151 United States car dealerships and 101 international car dealerships, it is the second-largest dealership group in the world.
  • Penske Motor Group – This group owns and operates automobile dealerships in California.
  • Penske Truck Leasing – joint venture with GE Equipment Management
  • Penske Logistics – transportation logistics
  • VM Motori S.p.A. – This group owns a 51% stake and 49% DaimlerChrysler Group, Truck-Lite, and Davco (transportation component manufacturing).
  • Truck-Lite – lighting manufacturer for heavy trucks
  • QEK Global Solutions – a provider of integrated support services to vehicle manufacturers, tier-one suppliers, and other businesses
  • Davco – manufacturer of Class 8 heavy-duty, diesel-powered truck fuel/heater water separators and filter systems
  • Ilmor – engine builder
  • Deer Valley Ski Resort – part owner
  • Internet Brands – An early investor in CarsDirect, he has been a director since May 2001.
  • FER Fahrzeugelektrik – Lighting Manufacturer
  • Tamsen GmbH – Car Dealer for Aston Martin, Bentley, Ferrari, Lamborghini and Maserati

He is also on the board of directors of Universal Technical Institute, a nationwide provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. NASCAR Technical Institute is located in Mooresville, North Carolina.

Racing awards