NASCAR has changed a lot since its early days. When it was first founded, most stock car racers raced in informal events for bragging rights and the occasional small cash prize. Today, NASCAR is an enormously lucrative business in which the top drivers can expect large salaries, hefty cash prizes, and lucrative endorsement opportunities. Though not the top earners, NASCAR racers are among the most highly paid athletes in the world.
A History of NASCAR Earnings
NASCAR has its roots in alcohol smuggling during Prohibition. When alcohol was made illegal, an enormous black market sprang up. Those who made it gave it to a network of smugglers, many of whom used small, lightweight, maneuverable cars that could outrun the police. The more successful bootleggers modified their vehicles for improved speed and handling.
Prohibition eventually ended, but bootleggers stayed put even when alcohol again became legal. After all, bootleg alcohol was still cheaper and more profitable than alcohol that was legally made. They began investing in their cars, making them faster to evade the police while hiding and transporting liquor. Some bootleggers became quite proud of their cars and, as a matter of pride, started racing them against each other to find out who had the best car.
These amateur races caught the attention of the public, who loved them. Soon, these races were being run everywhere, and small prizes were sometimes offered. Eventually, the prizes became standard. Then, in 1948, a mechanic named Bill France Sr. formed an organization for sanctioning and promoting these races, known as NASCAR.
The first race had a prize of just $2,000. That’s nothing compared to the prizes that are given out today. Still, money was worth more in 1948, and it wasn’t anything to scoff at, either. In fact, it was high enough that one of the racers cheated with illegal modifications to claim it.
Over the years, the prizes grew, and the business became lucrative enough that drivers were also offered salaries. Today’s drivers make an average of $1 million yearly in salary and prizes combined, with top drivers making around $20 million per year. They can pull in a few million dollars more from merchandising and endorsements. Even an average driver could make hundreds of thousands in endorsements.
The Richest NASCAR Driver in History
1. Rick Hendrick
Net Worth: $1 Billion
The richest NASCAR Driver in History is Rick Hendrick with a Net Worth of $1 Billion. His 10 figure Net worth not only makes him the richest NASCAR driver ever but one of the richest professional athletes ever.
Hendrick actually only drove in a handful of NASCAR races in which he never won but he is still considered a one-time professional driver.
Hendrick's impressive wealth is mostly thanks to his ownership of Hendrick Motorsports, one of the most successful auto racing organizations ever. NASCAR drivers who have raced under the Hendrick Motorsports name include: Dale Earnhardt Jr., Mark Martin, Jeff Gordon, Darrell Waltrip, and Jimmie Johnson.
Rick Hendrick also owns Hendrick Auto Group which owns and operates over 100 auto dealerships across the country. His business success makes him the richest NASCAR driver in history.
Who Are the Runner-Up Richest NASCAR Drivers?
While Dale Earnhardt is by far the richest driver in the NASCAR Cup Series, several other NASCAR drivers have amassed more wealth than most could ever dream of.
2. Richard Childress
Net Worth: $250 Million
Richard Childress never won a NASCAR race but his racing career was considered more successful than that of Rick Hendrick. When Hendrick retired from racing in the early 80's, he asked a man named Dale Earnhardt to drive the No. 3 car Childress had been racing.
Behind Earnhardt's success, the one car Richard Childress Racing team was off to a monumental start. RCR would later add the likes of Mike Skinner, Kevin Harvick, and Austin Dillon. Childress' racing team has remained small but the team's success has propelled its owner to the No. 2 spot on the list of richest NASCAR Drivers
3. Dale Earnhardt Jr.
Dale Earnhardt Jr. is not only a legendary NASCAR driver; he’s part of a legendary NASCAR dynasty. Earnhardt is the son of NASCAR Hall of Famer Dale Earnhardt Sr., the grandson of seven-time NASCAR champion Ralph Earnhardt, half-brother of driver Kerry Earnhardt, and uncle of driver Jeffrey Earnhardt.
Earnhardt Jr. started driving full-time in 1998 for his father’s team. He won his first title that year (Xfinity) and made more than $1 million. Within a few years, he started seeing massive paydays. The first year he raced for Hendrick Motorsports, in 2008, he made a whopping $30 million. That’s significantly more than most other drivers have earned in an entire career.
Earnhardt retired in 2017, having won the Daytona 500 twice and having 26 wins in the NASCAR Cup series. His successes on the Daytona International Speedway caused fans to call him the Pied Piper of Daytona. His record makes him the 31st most successful NASCAR driver in history, along with Fred Lorenzen Jr.
Earnhardt’s Earning Power
Although Earnhardt‘s ranking in NASCAR history is respectable, it’s far from the top. It may seem a little odd that the richest NASCAR driver in history is also not one of the most successful drivers in NASCAR history. After all, race earnings are tied directly to winning. Race earnings are not all there is to the story, though.
Earnhardt had charisma. He won the Most Popular Driver award every year from 2003 to 2017 and filled seats, tempting those who would not ordinarily see a race. Dale Earnhardt Jr. merchandise sold well. In fact, Earnhardt‘s merchandise sales represented an incredible 25% of all of NASCAR’s merchandise sales. They were twice as high as his next closest competitor. And all this popularity translated into endorsements and sponsorships.
One million dollars in endorsements was a slow year for him. In 2008, Earnhardt made $23 million in endorsements and was paid a million dollars apiece by companies who wished to sponsor his car. He also had personal sponsorship deals with half a dozen companies.
All told, Earnhardt earned more than $400 million over the course of his career. His nearest competition, Jeff Gordon, doesn’t even come close, having amassed $200 million during his career. Other drivers have made around $100 million in their careers, with most making significantly less.
What Did Earnhardt Do With All That Money?
Earnhardt made a number of extravagant purchases with his fortune, such as a pirate-themed house, a collection of cars, and a personal plane. For the most part, though, he has invested in various businesses.
He’s opened a few car dealerships in Florida, started his eyeglass frame company, and released his vodka, High Rock brand. He’s also the Whiskey River Beer and Wings Restaurant co-owner and an air filter subscription service. And, of course, he owns a NASCAR team. With such a diverse portfolio of businesses, he’s unlikely to run out of money anytime soon.
4. Jeff Gordon
Net Worth: $205 Million
Retired NASCAR race car driver Jeff Gordon won the NASCAR Cup Series title four times, in 1995, 1997, 1998, and 2001 respectively. He was also the youngest driver to ever win a NASCAR title, at just 24 years old. Jeff Gordon is now the vice chairman of Hendrick Motorsport and has a net worth of $205 million.
Gordon has had an extensive list of sponsors through the years which includes:
- Pepsi
- Gillette
- Dupont
- Frito Lay
5. Jimmie Johnson
Net Worth: $120 Million
Jimmie Johnson comes in at number five among the richest NASCAR drivers of all time. This former NASCAR race car driver and current IndyCar rookie driver was the first and only in NASCAR history to win five championships in a row. Jimmie Johnson has a net worth of $120 million.
Johnson is arguably the most successful driver on the list. His Hall of Fame career is almost unrivaled.
6. Tony Stewart
Net Worth: $90 Million
Tony Stewart has had an exceptional career as a NASCAR driver. His long list of accomplishments includes 3 NASCAR Cup Series Championships, and IndyCar Series Championship, and an a recent induction into the NASCAR Hall of Fame.
Stewart is the only race car driver to win a championship in both NASCAR and IndyCar.
Tony Stewart's racing career has not been short on controversy. The NASCAR Hall of Famer has been involved in numerous altercations and spats with other drivers. In spite of his polarizing persona, Stewart has had a tremendous racing career that has helped him amass an almost 9 figure net worth.
7. Danica Patrick
Net Worth: $80 Million
Few NASCAR Drivers have garnered as much attention as that of Danica Patrick. While a handful of women have made attempts at professional driving careers, Patrick has, by far, had the most successful racing career of any woman. Danica Patrick is the only woman to win an IndyCar Series race.
Patrick became a sort of pop culture icon and has continued to maintain her celebrity status even after retiring from racing. The former IndyCar Rookie of the Year has made numerous TV and movie appearances and has been featured in some of America's most popular magazines including: People, Forbes, and Bloomberg.
8. Mark Martin
Net Worth: $70 Million
Semi-retired race car driver Mark Martin is one of the richest NASCAR drivers of all time, with a net worth of 70 million dollars. Competing in over 880 races over his 30-year-long career, he was elected to the NASCAR Hall of Fame in 2017.
9. Kevin Harvick
Net Worth: $70 Million
Kevin Harvick's long steady career have helped him accumulate an outstanding net worth of $70 Million. Harvick ranks 3rd in all time National Series wins, trailing only Richard Petty and Kyle Busch.
At the age of 46, Harvick is still competing regularly on the NASCAR circuit.
10. Dale Earnhardt Sr.
Net Worth: $70 Million
Dale Earnhardt Sr. may not be THE richest NASCAR driver in history but he is NASCAR. The man known as “The Intimidator” is arguably the most popular NASCAR driver in history. Earnhardt also achieved success as a team owner.
Earnhardt died tragically in a crash in the final lap of the 2001 Daytona 500. Three years after winning the elusive title at the same track, Earnhardt's life was cut short at the age of 49. His legacy lives on
11. Carl Edwards
Net Worth: $70 Million
Edwards has enjoyed a successful career as a race car driver and has made plenty of money in NASCAR. Edwards however has shown that has more skills than just driving and has other means of earning income. Carl Edwards has made numerous TV and movie appearances including a cameo in the popular 2017 film Logan Lucky.
Edwards also has music label with a childhood friend and has been rumored to have political aspirations aimed at a U.S Senate seat.
12. Denny Hamlin
Net Worth: $65 Million
Hamlin has rung the cash register a few times in his 18 year racing career. His 48 NASCAR Cup Series race wins include 3 titles at the Daytona 500 (2016, 2019, and 2020). He joined Richard Petty, Cale Yarborough, and Sterling Marlin as one of only 4 drivers to win the race in back to back years.
Hamlin has put together a impressive career and has netted $65 Million as a result.
Hamlin is now the co-owner of 23XII Racing with basketball GOAT Michael Jordan. He could be the next Rick Hendrick or Richard Childress in becoming an uber-wealthy owner of a racing team.
13. Richard Petty
Net Worth: $65 Million
While a net worth of $65 million doesn’t seem like much when it comes to NASCAR racing, Richard Petty is still legendary in this regard. Richard Petty is known as the most successful NASCAR driver of all time due to his track record of winning over 200 races.
Richard Petty’s son, Kyle Petty, also enjoyed a successful career in NASCAR racing and is currently a racing commentator.
14. Matt Kenseth
Net Worth: $60 Million
Matt Kenseth is in rare company with his NASCAR accomplishments. Kenseth is one of a handful of drivers to have won the Daytona 500 twice. He is also the last driver to compete in a NASCAR Cup Series event in four different decades.
Longevity in a high dollar sport is a good way to accumulate wealth and Kenseth has certainly achieved that. His 22 year career in professional racing has resulted in solid earning power.
15. Kyle Busch and Kurt Busch
Brothers Kyle Busch and Kurt Busch have each made a name for themselves in the world of NASCAR and have been paid handsomely for it. Kyle Busch has accumulated a net worth of approximately $80 Million while brother Kurt Busch has an estimated net worth of $70 Million.
Kyle Busch was the 2015 and 2019 NASCAR Cup Series champion, the all-time record-holder in both the NASCAR Xfinity Series and the NASCAR Camping World Truck Series, on top of being the 2009 Xfinity champion. He also owns the hugely successful Kyle Busch Motorsports, which has been open since 2010.
Kurt Busch is Kyle’s older brother and has won a total of 27 NASCAR Cup races during the course of his career. He is the longest-tenured active driver in the NASCAR Cup Series today and is one of 36 drivers to have won in the NASCAR Cup Series, the Xfinity Series, and the Camping World Truck Series.
16. Jeff Burton
Net Worth: $50 Million
Jeff Burton earned the nickname “The Mayor” from fellow racing teammate Clint Boyer. Burton has always been vocal about driver safety and has become a popular figure among NASCAR drivers.
Burton has parlayed his success on the track and popularity among his peers into a successful broadcasting career. The 22 year racing veteran has now been a commentator with NBC since 2015
17. Cale Yarborough
Net Worth: $50 Million
Cale Yarborough's face belongs on the Mount Rushmore of NASCAR. His dominance in the 60's and 70's greatly increased the sport and his accomplishments are almost unmatched. He is one of those rare drivers who have won the Daytona 500 four times.
Yarborough would go on to to have a successful career as the owner of his own racing team, Cale Yarborough Motorsports.
18. Greg Biffle
Net Worth: $50 Million
Biffle has not experienced the same success in the NASCAR Cup Series as many of the other richest race car drivers on the list. Biffle does however, have a NASCAR Busch Series Championship and NASCAR Craftsman Truck Series Championship to his name.
While he lacks the NASCAR Cup Series success and victories in big time events (0 Daytona 500 wins), Biffle has still had a successful 16 year career that has netted him over $50 Million.
19. Kasey Kahne
Net Worth: $50 Million
Kasey Kahne may be most well known to the general public as a NASCAR driver but he is a dirt track racer at heart. Kahne has never won a NASCAR Cup Series Championship but does have a NSAC National Midget Series Championship to his name.
Kahne does have an impressive 18 NASCAR Cup Series wins to his name and 176 top 10's.
20. Joey Logano
Net Worth: $45 Million
Logano has been racing almost since he was in diapers and has long been considered a racing prodigy. Mark Martin once alluded that he thought Logano would be one of the greatest NASCAR drivers ever.
At age 32, Joey Logano has already won 29 times on the NASCAR Cup Series and 30 times on the NASCAR Xfinity Series. Logano is still experiencing success and will likely climb the list of the richest NASCAR Drivers in history.
21. Sterling Marlin
Net Worth: $40 Million
Sterling Marlin is a member of a racing family. His father Coo Coo Marlin was a professional stock car driver and his son and grandson are both race car drivers. Marlin has 10 wins on the NASCAR Cup Series, 2 of those being in the Daytona 500.
22. Martin Truex Jr.
Net Worth: $30 Million
Martin Truex Jr. is another member of a big time racing family. Truex Jr.'s father, brother, uncle, and cousins are all race car drivers. Truex has experienced tremendous success in his NASCAR Career.
Between the NASCAR Cup Series, NASCAR Xfinity Series, and NASCAR Craftsman Truck Series, Truex has won 45 times.
23. Darrell Waltrip
Net Worth: $25 Million
Darrell Waltrip is Mr. NASCAR. His career as a NASCAR driver spanned 29 years and includes 97 wins between the NASCAR Cup Series and Xfinity series. His place on this list does not match his greatness as a driver.
Waltrip has become a popular TV announcer for Fox and has been the face of racing for many years.
24. Kyle Larson
Net Worth: $15 Million
Kyle Larson is a rising star in NASCAR. The 30 year old has already won 33 NASCAR events and has consistently been one of the best drivers in recent years.
Larson has also had plenty of success in dirt track races. He is in the prime of his career and could end much higher on the list.
25. Chase Elliott
Net Worth: $12 Million
Chase Elliott is another rising star on the racing scene. Elliott is only 26 and his racing career spans 8 years yet he has won 25 NASCAR Events.
Elliott won the 2022 NASCAR Cup Series regular season championship making him and his father Bill one of 3 father/son duos to win NASCAR Cup Series Championships.
Other Richest Race car Drivers
Michael Schumacher
Net Worth: $600 Million
Lewis Hamilton
Net Worth: $285 Million
