Roger Penske
Birmingham, Michigan
Drop Out, Lehigh University
United States
cars, Self Made
$1,600,000,000
1511
#1511 Billionaires 2019
#342 Forbes 400 2015
Former racecar driver Roger Penske is the founder, chairman and CEO of publicly-traded car and truck dealer Penske Automotive Group.The business is best known for its auto dealerships, which sell new and used cars, and its iconic yellow rental trucks.Penske started his career with one car dealership in 1965, opened with a $75,000 loan from his father.He sold Utah ski resort Deer Valley to Alterra Mountain Co. in October 2017; sale of Solitude, which he also owns, is expected to close in late 2018.
He was named Sports Illustrated's racecar driver of the year in 1961.His businesses generate more than $22 billion per year and employ upwards of 50,000 people.
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