Rick Hendrick Net Worth, Career & All (2024 Updated)

Rick Hendrick is best known as the owner of NASCAR’s Hendrick Motorsports, one of the most successful teams in the racing world.

Through his ownership, Rick Hendrick’s net worth is estimated at $1 billion, and he has become one of the wealthiest individuals in the automotive industry.

Hendrick began his career selling cars for a Chevrolet dealership in Bennettsville, South Carolina.

He went on to open his dealership, Hendrick Automotive Group, which now includes over 100 locations across 14 states and is ranked as one of the largest privately-held automotive groups in the United States.

In 1984, he entered NASCAR by purchasing a team that would later become known as Hendrick Motorsports.

Under his leadership, the team has amassed a total of 12 NASCAR Cup Series championships, and 239 race wins. Hendrick himself was inducted into the NASCAR Hall of Fame in 2017.

In addition to his involvement in the automotive industry, Hendrick is also known for his philanthropic efforts through the Hendrick Family Foundation, which focuses on supporting children and families in need.

Thus, we can say that in the world of racing and the automotive industry, Rick Hendrick’s achievements are truly impressive.

As he continues to lead his successful businesses and give back to his community, his net worth is sure to continue growing in the years to come.

Rick Hendrick Net Worth and Wiki (2024)

Full Name	Joseph Riddick Hendrick III
Net Worth	$1 billion
Date of Birth	July 12, 1949
Place of Birth	Warrenton, North Carolina
Residence	Charlotte, North Carolina
Height	5ft 6in
Education	Park View High School
Religion	Southern Baptist
Nationality	American
Ethnicity	White
Marital status	Married to Linda Hendrick
Children	2
Profession	Automotive industry, ownership in NASCAR teams
Company	Hendrick Automotive Group
Awards	NASCAR Hall of Fame inductee and National Motorsports Press Association Myers Brothers Award recipient
Years active	1984-present

Net Worth

As of 2024, Rick Hendrick’s net worth is estimated to be $1 billion.

This wealth can largely be attributed to his successful ownership of NASCAR’s Hendrick Motorsports, as well as his leadership of the Hendrick Automotive Group, one of the largest privately-owned automotive groups in the United States.

In addition, Hendrick has also made wise investments in real estate and the stock market, further adding to his already impressive fortune.

With a career filled with success and continued growth in his businesses, Hendrick’s net worth is sure to continue increasing in the future.

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Early Life and Education

When we talk about her early life, we are talking about Joseph Riddick Hendrick III, who was born on July 12, 1949, in Warrenton, North Carolina.

He attended Park View High School before eventually starting his career at a Chevrolet dealership in Bennettsville, South Carolina.

As a young man, Hendrick found success selling cars and soon began building his own automotive empire. In 1976, he opened his first dealership, Hendrick Automotive Group, and continued to expand it to over 100 locations across 14 states.

In 1984, Rick Hendrick entered the world of NASCAR by purchasing a racing team that would later become known as Hendrick Motorsports.

Under his leadership, the team has seen immense success, earning 12 NASCAR Cup Series championships and 239 race victories.

During his childhood, Hendrick also developed a passion for flying. He became a licensed pilot, owning multiple private jets and even establishing his own airline company, Hendrick Airlines.

Thus, we can say that from a young age, Hendrick displayed an entrepreneurial spirit and determination to succeed in the automotive industry.

Career

As mentioned above, Hendrick started his career selling cars for a Chevrolet dealership in Bennettsville, South Carolina.

He soon used this experience to open his own dealership, Hendrick Automotive Group, which now includes over 100 locations across 14 states and is ranked as one of the largest privately-held automotive groups in the United States.

In 1984, he entered NASCAR by purchasing a team that would later become known as Hendrick Motorsports. Under his leadership, the team has amassed a total of 12 NASCAR Cup Series championships, and 239 race wins.

Notable drivers such as Jeff Gordon, Jimmie Johnson, and Dale Earnhardt Jr. have also found success racing for Hendrick Motorsports.

In addition to his involvement in NASCAR, Hendrick has also owned various other racing teams and participated in motorsports events such as drag racing and IndyCar.

In 2017, Hendrick was inducted into the NASCAR Hall of Fame for his successful leadership and contributions to the sport.

He continues to lead Hendrick Motorsports, which remains one of the most successful teams in NASCAR today.

Aside from his involvement in the automotive industry, Hendrick is also known for his philanthropic efforts through the Hendrick Family Foundation.

The foundation focuses on supporting children and families in need, with a particular emphasis on aiding victims of domestic violence.

Overall, we can see that throughout his career, Rick Hendrick has found immense success in both business and philanthropy.

His achievements have solidified his reputation as a successful leader and entrepreneur in the automotive industry.

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Personal Life

When we talk about his personal life, we have to mention that Hendrick is married to Linda Hendrick, with whom he has two children.

In October 2004, tragedy struck the Hendrick family when a private plane carrying many of their loved ones, including Rick’s brother John, two nieces, and his son Ricky crashed en route to a NASCAR race in Martinsville, Virginia.

This devastating event greatly impacted Hendrick and his family, as well as the NASCAR community as a whole.

Hendrick is also an avid collector of classic cars and owns one of the largest collections in the world. His passion for cars began at a young age and continues to drive his success in the automotive industry today.

In his quality time, he also enjoys flying, a passion he developed during his childhood. He is a licensed pilot and owns multiple private jets, as well as his own airline company, Hendrick Airlines.

Overall, it’s clear that Rick Hendrick’s personal interests have played a significant role in shaping his successful career in the automotive industry.

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Awards and Nominations

Awards are a testament to one’s successes and accomplishments, and Rick Hendrick has certainly received his fair share.

In 2017, he was inducted into the NASCAR Hall of Fame for his successful leadership and contributions to the sport.

Hendrick Motorsports has also been named “NASCAR Organization of the Year” numerous times by race publication The Official NASCAR Magazine as well as receiving multiple awards from WCOTY (World Car of the Year).

In addition to these accolades, Hendrick has also been named a North Carolina Entrepreneur of the Year and honored by organizations such as Children’s Miracle Network Hospitals and United Way.

Overall, these awards serve as recognition for Hendrick’s achievements in both business and philanthropy.

Milestones 

Milestones are key moments in a person’s career that mark significant achievements and progress. Some of Rick Hendrick’s notable milestones include:

• Founding Hendrick Automotive Group in 1976
• Purchasing his first NASCAR team in 1984, which would become Hendrick Motorsports
• Winning the Daytona 500 with driver Jeff Gordon in 1997
• Inducted into the NASCAR Hall of Fame in 2017

These milestones showcase Hendrick’s continued success and growth throughout his career as a leader in the automotive industry.

Overall, it’s clear that Rick Hendrick has achieved immense success through his involvement in both motorsports and philanthropy.

Where does Rick Hendrick spend most of his money?

When we talk about his expense, Rick Hendrick spends a significant portion of his money on his passion for classic cars and airplanes.

As mentioned before, he owns one of the largest collections of classic cars in the world, as well as multiple private jets and his own airline company.

In addition to these personal expenses, Hendrick is also known for his philanthropic efforts through the Hendrick Family Foundation and other charitable organizations.

His dedication to giving back to those in need showcases his commitment to using his success and resources for good.

He also spends a lot on his business ventures, such as his various automotive companies and his NASCAR team, Hendrick Motorsports.

Overall, it’s clear that Rick Hendrick spends his money on a combination of personal passions, philanthropy, and continued success in the automotive industry.

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How does Rick Hendrick make his money?

When we talk about his income sources, a significant portion of Rick Hendrick’s wealth comes from his successful businesses in the automotive industry.

This includes Hendrick Automotive Group, which is one of the largest privately-owned dealership groups in the United States, as well as his NASCAR team, Hendrick Motorsports.

In addition to these income sources, Hendrick also earns money through various business investments and endorsements.

He also receives a significant income from his involvement in motorsports as a team owner, sponsor, and entrepreneur.

His income sources also include his passion for classic cars, as he often sells vehicles from his extensive collection for profit.

Overall, it’s clear that Rick Hendrick’s success in the automotive industry and personal interests have played a major role in accumulating his immense wealth.

5 Success lessons to learn from Rick Hendrick

Success lessons are always important to learn, and Rick Hendrick offers plenty for aspiring entrepreneurs and leaders. Here are five success lessons to learn from him:

1) Focus on quality over quantity in business endeavors: Hendrick’s companies, such as Hendrick Motorsports and Hendrick Automotive Group, are known for their high-quality products and services. This focus on excellence has allowed him to become a successful leader in the industry.

2) Surround yourself with a strong team: Hendrick attributes much of his success to the talented individuals he works with at his various businesses and organizations. Building a support system of skilled individuals can help drive success in any field.

3) Stay committed to your passion: Hendrick’s passion for classic cars and airplanes has been not only a source of personal enjoyment but also a successful business venture. Following your passions can lead to both personal fulfillment and professional success.

4) Give back to those in need: Hendrick’s involvement in philanthropy showcases his commitment to using his success and resources for good. Giving back to your community and those in need can have a positive impact on both personal fulfillment and professional reputation.

5) Continually strive for growth and improvement: Throughout his career, Hendrick has continued to achieve new milestones and expand his businesses. Staying open to growth and improvement can lead to continued success in any field.

These lessons from Rick Hendrick showcase the importance of quality, teamwork, passion, philanthropy, and growth in achieving success. Taking these principles into consideration can help individuals strive for success in their own careers and personal lives.

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Favorite Quotes from Rick Hendrick

Favorite quotes are always motivating, and Rick Hendrick offers several wise words for aspiring entrepreneurs and leaders.

• “If you’re not growing, you’re dying.”
• “You will never achieve success if you don’t have the courage to fail.”
• “Success is not a destination, and it’s a journey.”
• “A successful team beats with one heart.”
• “No matter how good you are at something, there’s always room for improvement.”

These quotes showcase the importance of growth, courage, teamwork, and continuous improvement in striving for success.

Taking these principles into consideration can help individuals strive for success in their own careers and personal lives.

Relationships

When it comes to relationships, Hendrick is known for being a family man and placing a strong emphasis on the importance of loved ones.

In 2004, he sadly lost his wife and son in a tragic plane crash. He has since said that this loss taught him to cherish and prioritize his relationships with those closest to him.

In addition, Hendrick’s commitment to his team at Hendrick Motorsports showcases the value he places on fostering positive relationships in both personal and professional settings.

Overall, it’s clear that Hendrick understands the importance of maintaining nurturing relationships in all aspects of life.

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Controversies

Despite his successful career, Hendrick has faced some controversy. In 1997, he was indicted on charges of mail fraud and conspiracy for his involvement in a scheme to evade NASCAR dealership regulations.

He ultimately pleaded guilty and received probation, a $250,000 fine, and community service.

He was also accused of race-fixing in 2007, but the allegations were eventually dismissed.

Overall, these controversies serve as a reminder of the importance of integrity and following regulations in achieving success in any field.

Taking these lessons into consideration can help individuals strive for success while maintaining ethical standards.