Racecar team owner Jay Penske is an American media entrepreneur and publisher.
Penske Media Corporation, a digital media and publishing company he created in 2004, is his company’s Chairman and CEO.
Life in The Earlier Years
A native of the Big Apple, Jay Penske was given the name Jay Penske when he was just a baby. His father, multi-billionaire Roger Penske, is one of five children he has had. The Penske dynasty is enormous.
Penske Automotive Group, which owns the 360,000 orange rental trucks on American highways, the Indianapolis Motor Speedway, and IndyCar racing are the largest and most public holdings.
Under the Pensky corporate umbrella, there are dozens of more automotive-related company endeavors
Kathy Pensky, Roger’s second wife, gave birth to Jay, one of three children she had with him. Roger is the father of two children from a prior relationship.
He attended St. Mary’s Preparatory School in Detroit, where his father’s business is based, before moving to New Jersey, New York City, and the Detroit suburbs, where he graduated from high school.
Education
At St. Mary’s, he was an all-star lacrosse player who set school records for goals scored, assists given and points totals amassed. As a freshman, he was voted USA Today’s Player of the Year.
Until now, he is the only player in lacrosse history to average 10 points a game and scores more than 200 points in the same season.
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After graduating from high school, Jay enrolled at the Wharton School of the University of Pennsylvania. he finished with a bachelor’s degree in finance and information systems in 2001.
Career
The Media and Books
Co-founder Penske created Firefly Mobile, a wireless firm that developed the Firefly mobile phone for children and other youth-targeted mobile goods, such as the Firefly.
To the Consumer Electronics Association (CEA) and the 2006 International Consumer Electronics Show (CES), the Firefly phone earned the 2006 CES Innovation Award (CES).
Also owned by Penske is Dragon Books, Ltd., a Los Angeles-based used bookshop that specializes in rare and collectible titles.
Rolling Stone, Variety, Billboard, and SXSW are just a few of the many brands owned by Penske Media Corporation (PMC), which is a media and publishing corporation specializing in digital media and live events (SXSW).
To begin with, Velocity Services Inc. was an affinity marketing and online services firm before becoming Penske Media Corporation.
The Mail.com Media Corporation was formed after the corporation purchased the domain name Mail.com (MMC).
Motorsports
IndyCar Series racing team Dragon Racing was co-owned by Penske and Seagate Technologies Chairman Steve Luczo.
In 2009, Raphael Matos was named the league’s Rookie of the Year.
The name of the team is a combination of the last name of Penske’s business partner, Dragon Reading, Ltd., and his own love of books. As a part of the 2010 Penske racing squad, Raphael Matos was able to compete in the whole Indycar Series circuit, driving the HP #2 car.
Penske became the sole owner of Dragon Racing in 2011, and Paul Tracy was named as the team’s driver. Sébastien Bourdais and Katherine Legge were slated to drive a Lotus-powered vehicle in the 2012 season.
As a result of problems with their Lotus engines, Dragon Racing will run a Chevrolet in the Indy 500 this year instead. Sebastián Saavedra and Sébastien Bourdais were the drivers for Dragon Racing in 2013.
Dragon Racing, the fourth franchise team to contest the new FIA Formula E Championship, inked a contract with Formula E Holdings in October of that year. Dragon Racing.
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Drivers Jérôme d’Ambrosio, Oriol Servià, and Loc Duval helped the team finish second in the 2014-15 season. d’Ambrosio finished fifth and Duval eighth in the 2015-16 season.
A Look at Roger Penske’s Financial Situation as Of 2022
Roger Penske has a net worth of $2 billion as of May 2022. His businesses generate annual revenue of up to $26 million, making him extremely wealthy.
A Ferrari FXX is just one of the many vehicles in his impressive collection of both purchased and modified automobiles.
Roger Penske has always been a savvy businessman, starting back in the 1960s when he sold modified vehicles. In both his racing and business endeavors, he attained the same level of success.
It’s impossible to think of American racing without Penske’s influence, and his work ethic has helped him earn a prominent place in the sport. He’s one of the most talented and accomplished people I’ve ever encountered.
Life in The Private Sector
With Lisa Stouffer, he had two sons, Roger Jr. and Gregory; with his current spouse Kathy Penske, he had three sons, Blair; Mark; and Jay Penske.
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He’s also a generous giver. Not only that but he was also considered a viable candidate for the office of Mayor of Detroit, a position he politely declined to accept.