Tony Stewart Spending 'Retirement Money' To Race In NHRA (1 Viewer)

[mikebcurve]

https://www.autoweek.com/racing/nhra/a63135909/tony-stewart-spending-retirement-money-to-race-in-nhra/?source=nl&utm_source=nl_aut&utm_medium=email&date=120924&utm_campaign=nl37780152&oo=&user_email=9a3edadbcd55acc0d9f28ac0ebc82e524aa97de5442cbe4ff6cb2204dd80ed28&GID=9a3edadbcd55acc0d9f28ac0ebc82e524aa97de5442cbe4ff6cb2204dd80ed28&utm_term=AUT_Autoweek_Racing_Daily_Newsletter_HorL

 

[Rajunz]

Don Schumacher always made it work financially, I'm sure that Smoke and Leah will make it work too!

 

[ironpony]

Tony is learning the number one rule

Want to retire a millionaire in drag racing start with 10 million.

 

[ironpony]

Don Schumacher always made it work financially, I'm sure that Smoke and Leah will make it work too!

If I remember correctly his number one rule was to never use his own money to fund racing.

 

[Nunz]

If I remember correctly his number one rule was to never use his own money to fund racing.

Pretty sure Don spent plenty of his own money over the years. If you're going to own a team, you need to invest in the infrastructure before you can attract any marketing partners. Tony made a big investment when he took over the 2 fuel teams, and I think he even said in the article that this past season ended up much better financially.

 

[65 Goatboy]

SHR still has two Nascar charters up for sale pending the outcome of the lawsuit 23XI and Front Row Motorsports filed against Nascar. 23XI and Front Row are the buyers but the lawsuit probably won't be settled by the start of Nascar in 2025 so they will either be leased or sold to other teams because they can't remain inactive. These two charters are worth approx. 80 million large. Anyhoo don't feel sorry for Tony he has and will have plenty of cash!

 

[Dragracer]

He has also dropped the price on his estate to $22,500,000.
Nice place.

 

[ironpony]

Pretty sure Don spent plenty of his own money over the years. If you're going to own a team, you need to invest in the infrastructure before you can attract any marketing partners. Tony made a big investment when he took over the 2 fuel teams, and I think he even said in the article that this past season ended up much better financially.

Buying and owning all the assets are one thing, burning cash to go racing with little ROI is another. He always used sponsor money to play.

 

[Randy]

TS has an estimated net worth of $90 million. At $4 million per year, he's good for about 22 1/2 years of racing.

 

[Bubba]

TS has an estimated net worth of $90 million. At $4 million per year, he's good for about 22 1/2 years of racing.

It still amazes me that someone racing cars can acquire that size of fortune.

 

[Randy]

It still amazes me that someone racing cars can acquire that size of fortune.

Golfers Like Tiger Woods amass fortunes from endorsements, not prize money. TS generated may have generated money the same way, plus souvenir sales and everything else, I suppose.

 

[robinjackson]

In case you missed last week's Epartrade Race Industry Week series, Mr. Stewart gave Joe Castello a great interview on day 2. See here on YouTube:

Scroll along to 5:28:20. He says he's loving it in the drags.

 

[J. S.]

It still amazes me that someone racing cars can acquire that size of fortune.

There was a lot of money in NASCAR during the height of its popularity circa 2007. No doubt that's where most of the $$ came from.

 

[Nunz]

Buying and owning all the assets are one thing, burning cash to go racing with little ROI is another. He always used sponsor money to play.

Correct, I believe we're on the same page!

 

[Jack]

It still amazes me that someone racing cars can acquire that size of fortune.

The only ones who know his true net worth are Tony and his financial team. I looked up Connie K's met worth on line and it was 100 million. I suspect it's somewhat more than that....

 

[65 Goatboy]

He has also dropped the price on his estate to $22,500,000.
Nice place.

Watched his video tour, pretty impressive.

 

[65 Goatboy]

It still amazes me that someone racing cars can acquire that size of fortune.

Look at his career in Nascar, Indy Car and Sprint cars. Off the top of my head I can't think of a modern day racer with that resume. He still owns Eldora and used to have a stake in Kentucky Speedway not far from me near Paducah, Ky.

 

[drag racer]

When the private jet gets a "for sale" sign, then maybe have concern. Otherwise, I think he will be fine

 

[glofria]

TS has an estimated net worth of $90 million. At $4 million per year, he's good for about 22 1/2 years of racing.

$90 mil. in a simple 5% intrest bearing savings account yields $4.5 mil. per year. But I think he's getting a better rate than that.

 

[Butch]

It still amazes me that someone racing cars can acquire that size of fortune.

I know of a self-described Dumb old truck driver that did very well $$ wise racing his Hot-rod, until this past summer.