Menard is 41
Penske is 133
France is somewhere in between................no other names of interest I could find.......
http://www.forbes.com/lists/2005/54/Name_1.html
Menard is 41
Penske is 133
France is somewhere in between................no other names of interest I could find.......
http://www.forbes.com/lists/2005/54/Name_1.html
the man in expensive shoes
And there is a Guy from Chicago on the list with the name Herb worth 1.1 billion.
how about 6-10....15bil+ between them...yet we don't see Sam's club on the side of a OW car
someone needs a ride in a two-seater
Open wheel fans are too "sophisticated" to go to Wal-MartOriginally Posted by Ken
how about 6-10....15bil+ between them...yet we don't see Sam's club on the side of a OW car
someone needs a ride in a two-seater
why would they bother
/sarcasm off/
Rob races vintage cars, did some Firehawk IMSA stuff in the past.how about 6-10....15bil+ between them...yet we don't see Sam's club on the side of a OW car
someone needs a ride in a two-seater
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Molon Labe!
Wonder which ones made their fortuned from racing?Menard is 41
Penske is 133
France is somewhere in between................no other names of interest I could find.......
http://www.forbes.com/lists/2005/54/Name_1.html
DVR . . . . Life is too short to watch commercials.
Dang, I thought I made the list this year. I was so close. Missed it by that much...
Number 164 is a St. Louis boy. Stan Kroenke. He is married to a Wal-Mart heir. His gig is to look at the plan for Wal-Mart expansion. At least that is the theory about how he does it. Then he goes and buys up all of the real estate, leases a parcel back to Wal-Mart, then builds huge shopping centers with the Wal-Mart anchor. THF Realty- To Have Fun Realty.
Stan owns a chunk of the Rams and other assorted stuff too.
Who were you trying to find?Menard is 41
Penske is 133
France is somewhere in between................no other names of interest I could find.......
http://www.forbes.com/lists/2005/54/Name_1.html
Rest in Peace, Miles Nelson
Never forget, 'Mackie' was here.
Ranked #198 (tie):
Bill France Jr. - $1.6 billion
Jim France - $1.6 billion
Ranked #207
Bruton Smith - $1.5 billion
Neither.
Like the Colorado Avalanche, Denver Nuggets and the Pepsi Center that they play in. Don't forget that the Denver GP also race around that arena which gives him a motor sports connection.
Outaw
Where's KK?
Menard is 41
Penske is 133
France is somewhere in between................no other names of interest I could find.......
http://www.forbes.com/lists/2005/54/Name_1.html
Is this based on net worth or cash on hand worth?
I like cash on hand, I'm still around the botton 400 when it comes to that though.
In order to be on the Forbes list, your assets have to be public. For them to be public, they gotta be stock (pretty much). There are litterally hundreds of american families far richer than the cut off point that dont make it onto any Forbes list... because their money sits in trust funds pumping out interest in the millions. If you dont own anything, you dont make it to the list.... but that doesnt mean you arent sitting on buckets of money. There has been many guys like that involved in racing over the years. Funny thing is, all of em that ive known have been nice guys. Guess money doesnt neccisarily make you a huge jerk right away.
You mean neither Penske nor Menard?
You may be right, Cygni, but I don't remember it that way. I thought I remember Forbes doing all kinds of sneaky stuff to find out what rich folks owned. Either way I'm sure you're right that non-public disclosures lead to wild speculation and wide misses on net worths.
Center Grove Trojans
2008 5A Football State Champs
2011 Track State Champs
Are you surprised?
He kani 'ano 'e loa kela. Ua 'ai nui anei 'oe ma ke kakahiaka?
Jim France? Is that JC France who drives in Grand Am?
Ya, Forbes tries, but in the end they just have to guess when it comes to liquid funds... and theres alot of people out there with TONS of money that dont want anybody to know they have it, mainly because they dont want to be hassled. So year after year they just live off the interest. Thats the life.
Just think where Penske would be on that list if he never got into auto racing?
You know what they say...
The way to make a million in auto racing is to start with 10 million.
Last time I checked, KK was Austrailian.
Correct. And, further, the only stock ownership that is public is that of people who own more than 5% of a listed company, or the officers and directors of a listed company.
Theoretically, a person could own only one share of every listed company, and they would be wealthy beyond belief, but under no obligation to report anything. Neither would the owner of vast tracts of land, owner of unlisted (private) companies, owners of stock in foreign listed companies, owners of hard assets, like gold.
Also the list only lists Americans, and even people who are greatly involved in the US economy, but who are "foreign" are excluded.
It should also be noted that much of this is start-up people that have huge %ages of their own companies, which they dare not sell, and which might be worthless in a few years.
Yeah, but he/she would be executed by his/her postman for delivering truckloads of prospecti every day.
In order to be on the Forbes list, your assets have to be public. For them to be public, they gotta be stock (pretty much). There are litterally hundreds of american families far richer than the cut off point that dont make it onto any Forbes list... because their money sits in trust funds pumping out interest in the millions. If you dont own anything, you dont make it to the list.... but that doesnt mean you arent sitting on buckets of money. There has been many guys like that involved in racing over the years. Funny thing is, all of em that ive known have been nice guys. Guess money doesnt neccisarily make you a huge jerk right away.
Yes and no.
Officers and majority owners of publicly traded corporations are the easiest to formulate a ballpark estimate of wealth. Next come the publicity seekers who work hard to let people know how much money they are giving to their alma mater, hometown symphony, or charitable foundation. (I would put owners/general partners of major sports in this category b/c of the media scrutiny.)
Less well known are the owners of private corporations. If your company is Cargill sized, and your name is McMillian, then you will be found out. Same goes for the Kochs, Pritzkers, Hunts, Mellons etc.
But even you are just a private investor worth $750 million, the source and size of your fortune will generally be revealed. Because your private company will be sold to a public one. Or you endowed a business school or hospital wing. Or your heirs or estranged wife fight over a few million, and the probate court learns everything.
Of course there is always a Charles Feeney out there. But, in order to remain that secret, an individual either needs to (1) decline to take the personal tax exemptions that they are entitled to, at a cost of many millions; or (2) file no tax records and hope to avoid detection. Neither strategy is advisable for long-term wealth accumulation.
this is 2005....I don't think anybody has over 900 MILLION in their mattress............it's got to be in some kinda of funds and Forbes would know how to find out........In order to be on the Forbes list, your assets have to be public. For them to be public, they gotta be stock (pretty much). There are litterally hundreds of american families far richer than the cut off point that dont make it onto any Forbes list... because their money sits in trust funds pumping out interest in the millions. If you dont own anything, you dont make it to the list.... but that doesnt mean you arent sitting on buckets of money. There has been many guys like that involved in racing over the years. Funny thing is, all of em that ive known have been nice guys. Guess money doesnt neccisarily make you a huge jerk right away.
Again, you have to be an investor of some kind in order to really be found. Private income tax records arent the easiest things to get, especially when your investments are only long term savings accounts.Most of these arent new money 'gonna be found when their company is bought out' types. These are families that havent owned a business in a hundred years, often.
Its often assumed that everyone with money is buying stock... but there are alot of people out there who have so many millions in the bank, that there really isnt a point to put yourself in risky investment positions. Modest interest on a huge balance is good enough.
Theres been many of them through the years associated with racing. Just gotta look around.
Again, you have to be an investor of some kind in order to really be found. Private income tax records arent the easiest things to get, especially when your investments are only long term savings accounts.
Its often assumed that everyone with money is buying stock... but there are alot of people out there who have so many millions in the bank, that there really isnt a point to put yourself in risky investment positions. Modest interest on a huge balance is good enough.
Theres been many of them through the years associated with racing. Just gotta look around.
I agree that there are plenty of rich folks who fly under the radar. But there is a huge difference between $100 million and $1 billion. (I remember reading about Bill Cosby's profits from the sale of his show into syndication about 15 years ago. Cosby had been one of the highest paid actors on television for years. But he cleared about $300 million in the sale. That sale elevated Bill Cosby from being "very well paid" to being "rich".)
But lots of uber-rich folks buy the Hampton estate, the Central Park West triplex, a horse farm in the Virginia countryside, or a Napa vineyard. Or the 150 foot yacht. These types of purchases open eyebrows and start the rumormills going. Forbes is very good at picking up the trail for these things. Sure, it's harder to know how much a Pritzker, McMillan, or Rockefeller is worth if there corporations aren't public and they don't seek publicity. But it is still possible to find a ballpark estimate.
The fact is that there are very few billionaires who don't live a luxurious enough lifestyle to call at least some attention to their money. There are some Charles Feeney/Donald Othmer figures in the US. But only a few. Most billionaires don't want to wear a $12 Timex or live in the same cramped house for 40 years.
Enjoying the spoils of wealth can clue an outsider into the fortune a wealthy investor maintains. It is not as easy as looking at an SEC filing, but it can be done reasonably well.
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