Rick Hendrick Net Worth

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Table: Rick Hendrick Net Worth

What is Rick Hendrick’s Net Worth?

Rick Hendrick, a prominent American businessman, entrepreneur, and retired race car driver, has amassed a net worth of $1 billion. He is widely recognized as the owner of the highly successful NASCAR team, Hendrick Motorsports. Additionally, Hendrick owns and serves as the chairman of the Hendrick Automotive Group, which operates 140 franchises across 14 states, making it one of the largest dealership networks in the United States.

Highlights

– Rick Hendrick’s net worth is approximately $1 billion.
– He is the owner of Hendrick Motorsports, a renowned NASCAR team.
– Hendrick Automotive Group, under his ownership, operates 140 franchises in 14 different states.
– Hendrick has served as the chairman of the Hendrick Automotive Group since its establishment.
– His racing team, Hendrick Motorsports, has won 12 Monster Energy Cup Series championships.

Early Life

Rick Hendrick, whose birth name is Joseph Riddick Hendrick III, was born on July 12, 1949, in Warrenton, North Carolina. He was raised on a farm near Palmer Springs, Virginia, by his parents, Mary and Joseph. From a young age, Hendrick developed a passion for cars and racing. At the age of 14, he built a 1931 Chevrolet and began drag racing. He showcased his talent by winning the Chrysler-Plymouth Troubleshooting Contest (Virginia division) at the age of 16.

After completing high school at Park View High School in Virginia, Hendrick initially considered a career in baseball. However, he ultimately enrolled in a co-op work study program offered by Westinghouse Electric Company and North Carolina State University.

Career

Following his college education, Hendrick ventured into the automotive industry. At the age of 23, he opened a small used-car lot and quickly rose through the ranks to become the general sales manager. At 26 years old, Hendrick became the youngest Chevrolet dealer in America after purchasing a franchise in Bennettsville, South Carolina. This marked the beginning of the Hendrick Automotive Group, which has since become a significant player in the automotive industry, employing over 10,000 individuals and generating $9 billion in revenue in 2016.

In addition to his successful ventures in the automotive business, Hendrick pursued a career as a race car driver. He competed in various NASCAR series, including the NASCAR Sprint Cup Series, the NASCAR Nationwide Series, and the NASCAR Camping World Truck Series. Hendrick achieved considerable success by co-owning and sponsoring several NASCAR Late Model Sportsman Series cars. Notably, he won a race with Dale Earnhardt in 1983. In 1984, Hendrick founded All-Star Racing, which later became known as Hendrick Motorsports, and entered the NASCAR Winston Cup (now Cup Series) with driver Geoff Bodine.

As a team owner, Hendrick Motorsports has established itself as one of the most successful teams in NASCAR history. The team boasts an impressive record of 16 Drivers’ championships, 345 race wins, and 290 pole positions. Hendrick also co-owns JR Motorsports with Dale Earnhardt Jr. and Kelly Earnhardt Miller.

Personal Life

Rick Hendrick’s personal life has experienced both triumph and tragedy. He met his future wife, Linda, at an ice cream parlor, and they have two children, Ricky and Lynn. Sadly, tragedy struck in 2004 when Ricky, a race car driver, died in a plane crash at the age of 24. The crash also claimed the lives of Rick’s brother and two of his nieces.

In 2011, Rick and Linda were involved in another plane incident when their aircraft crash-landed at Key West International Airport. Though Linda only suffered minor injuries, Rick sustained a fractured clavicle and three broken ribs.

In 1996, Hendrick was diagnosed with chronic myelogenous leukemia, but he has been in remission since 1999. However, in 1997, he faced legal issues when he pled guilty to mail fraud. Hendrick admitted to providing luxurious gifts, including BMWs, houses, and large sums of money, to executives at American Honda Motor Company in the 1980s. He was sentenced to a year of home confinement, a $250,000 fine, and three years’ probation. Fortunately, Hendrick received a pardon from President Bill Clinton in 2000.

Net Worth Over Time

Rick Hendrick’s net worth has experienced remarkable growth over the years due to his successful business ventures and ownership of Hendrick Motorsports. Details of his net worth during specific periods are not disclosed in the provided article.

Components of Net Worth

Rick Hendrick’s net worth primarily stems from his ownership and leadership of the Hendrick Automotive Group, which operates 140 franchises across 14 states. Additionally, his ownership of Hendrick Motorsports has played a significant role in accumulating his wealth. The team’s outstanding record of 12 Monster Energy Cup Series championships, coupled with its numerous race wins and pole positions, has helped solidify his financial success.

Conclusion

Rick Hendrick’s remarkable net worth of $1 billion is a testament to his acumen as a businessman, entrepreneur, and former race car driver. His ownership of Hendrick Motorsports and the Hendrick Automotive Group has brought him substantial success, making him one of the most influential figures in the NASCAR industry. Despite facing personal tragedies and legal challenges, Hendrick has persevered and established himself as a prominent figure in both the business and racing worlds.

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