Roger Penske is a name synonymous with success in motorsports and business. A former race car driver turned business tycoon, he has built one of the most powerful racing teams in history while also establishing a vast transportation empire. With a net worth of $3.2 billion as of 2025, Penske’s influence extends across racing, automotive industries, and media. His legacy is cemented not just in racing victories but also in his business acumen, strategic investments, and leadership.
Early Life and Passion for Cars
Roger S. Penske was born on February 20, 1937, in Shaker Heights, Ohio. His father, Jay Penske, worked as a corporate executive for a metal company, providing young Roger with early exposure to business and leadership. Inspired by his father’s success, he developed an entrepreneurial spirit early on, buying, refurbishing, and selling cars for profit while still in his teenage years.
After completing his education at Shaker Heights High School in 1955, Penske pursued higher studies at Lehigh University in Bethlehem, Pennsylvania. While studying business administration, his passion for automobiles and racing intensified, eventually shaping his career trajectory.
From Racer to Team Owner
Roger Penske first made a name for himself in motorsports as a skilled driver. He began his competitive journey in hill climbing before advancing to road course racing, particularly with Porsches. He made his professional debut at the Marlboro Motor Raceway in Maryland and quickly gained recognition. In 1963, he won a NASCAR Pacific Coast Late Model race, further establishing himself as a formidable racer.
Despite his success behind the wheel, Penske made a pivotal career decision in 1965. At just 28 years old, he retired from professional racing to focus on his business ventures, particularly his first Chevrolet dealership in Philadelphia. This transition marked the beginning of his transformation from a celebrated driver to a dominant force in the motorsports industry.
The Rise of Penske Racing
In 1966, Penske launched his professional auto racing team, Penske Racing, at the prestigious 24 Hours of Daytona. The team quickly ascended to elite status, entering the Indianapolis 500 in 1969 and securing its first victory in the event in 1972 with driver Mark Donohue. Over the decades, Penske Racing (now Team Penske) has become one of the most dominant forces in motorsports.
Key achievements of Team Penske include:
- Record 19 Indianapolis 500 victories (1972-2023)
- Multiple NASCAR Cup Series Championships, including wins in 2012 (Brad Keselowski) and 2018 (Joey Logano)
- Over 40 championships across different motorsport categories
- Success in Australian Supercars, winning the Bathurst 1000 in 2019 with DJR Team Penske
- Major wins in sports car racing, including dominance in the American Le Mans Series with Porsche
Team Penske’s winning culture has attracted legendary drivers such as Mario Andretti, Emerson Fittipaldi, Helio Castroneves, and Will Power. The team continues to thrive in IndyCar, NASCAR, and IMSA, reinforcing Penske’s status as the most successful team owner in racing history.
Business Empire: Penske Corporation
While his name is legendary in motorsports, Roger Penske’s business achievements are just as remarkable. He founded Penske Corporation in 1969, a transportation services powerhouse headquartered in Bloomfield Hills, Michigan. The company has grown into a multi-billion-dollar enterprise with several subsidiaries, including:
- Penske Automotive Group – One of the largest car dealership networks in the U.S.
- Penske Truck Leasing – A major player in commercial truck rental and logistics
- Penske Logistics – Providing supply chain solutions worldwide
- Penske Motor Group – Operating high-end automotive dealerships
- Ilmor Engineering – Specializing in high-performance racing engines
- Penske Entertainment Corporation – Owner of Indianapolis Motor Speedway (IMS) and IndyCar, acquired in 2019
Penske’s acquisition of IMS and the IndyCar Series was one of the most significant business moves in motorsports history. Under his leadership, the series has seen greater financial stability, improved race quality, and heightened fan engagement.
Accolades and Honors
Nicknamed “The Captain”, Roger Penske’s achievements have earned him a place in multiple halls of fame and garnered national recognition. His most prestigious honors include:
- Presidential Medal of Freedom (2019) – Awarded by President Donald Trump for his contributions to business and motorsports
- Inductions into the Hall of Fame:
- International Motorsports Hall of Fame (1998)
- Motorsports Hall of Fame of America (1995)
- Indianapolis Motor Speedway Hall of Fame
- NASCAR Hall of Fame
- Automotive Hall of Fame
- Sports Car Club of America Hall of Fame
- Golden Plate Award (1990) – American Academy of Achievement
Other Business Ventures and Political Involvement
Beyond racing and automotive ventures, Penske has served as a corporate director at General Electric and previously held board positions at The Home Depot and Delphi Automotive. In 2005, he resigned from those roles to chair the Detroit Super Bowl Committee for Super Bowl XL.
A known Republican donor, Penske contributed $500,000 to Mitt Romney’s Super PAC in 2012 and endorsed Donald Trump in the 2020 presidential election.
Personal Life and Family
Roger Penske is a devoted family man, married to Kathy Penske, with whom he shares three children: Gregory, Mark, and Jay Penske. He also has two children, Roger Jr. and Blair, from his first marriage to Lissa Penske.
His children have followed in his entrepreneurial footsteps:
- Gregory Penske – Chairman and CEO of Penske Motor Group
- Jay Penske – Chairman and CEO of Penske Media Corporation, which owns Variety, Rolling Stone, The Hollywood Reporter, and WWD (Women’s Wear Daily)
Despite his immense success, Penske maintains a low-profile personal life, focusing on his businesses, racing teams, and philanthropic efforts.
Legacy and Future
At 87 years old in 2025, Roger Penske remains deeply involved in his businesses and motorsports ventures. His leadership continues to shape Team Penske’s dominance, while IndyCar and IMS flourish under his stewardship. His legacy as a motorsport legend, business mogul, and visionary leader is firmly established.
With over 500 race victories, a billion-dollar business empire, and an enduring influence in motorsports, Roger Penske’s contributions to racing and industry are unmatched. Whether on the track or in the boardroom, he exemplifies excellence, discipline, and innovation.