Before Roger Penske became the owner of a successful racing team, he himself was a race car driver for seven years until he retired in 1965 to concentrate on operating a Chevrolet dealership in Philadelphia. Today, Penske is the head of Penske Corporation in Bloomfield Hills, Mich. The company has its hands in many different industries, including automotive sales, truck rentals and leasing and many other businesses.
Penske Corporation’s most prominent investment is Penske Automotive Group (NYSE:PAG), where it’s the largest shareholder with 34% of the company. In 1988, Penske partnered with General Electric (NYSE:GE) to operate Penske Truck Leasing, a business with more than 200,000 vehicles across North America. As good as Penske is as a team owner, he’s even better as an entrepreneur, which accounts for his net worth of $1.1 billion, according to Forbes.
As of this writing, Will Ashworth did not hold a position in any of the aforementioned securities.