Net Worth Ranker
What Is Kyle Petty’s Net Worth?
Kyle Petty, a prominent figure in American motorsports, boasts a net worth of $20 million. This substantial wealth is primarily attributed to his successful career as a NASCAR driver, supplemented by his endeavors in broadcasting and other ventures. While specific breakdowns of his earnings from music, endorsements, or business investments aren’t publicly detailed, we can explore the facets of his career that have contributed to his financial standing.
Kyle Petty’s Racing Career and Earnings
Petty’s racing career spanned over three decades, during which he accumulated significant earnings. While the exact figures for each race and sponsorship deal are not fully disclosed, it’s estimated that he earned around $32 million throughout his racing years. This includes race winnings, sponsorships, and endorsements from various companies. Petty’s association with brands like 7-Eleven, Wood Brothers Racing, and Coors Light, along with his on-track performances, contributed significantly to his income.
In 1979, Kyle Petty won the Daytona ARCA 200, which was the first professional race he had entered. That same year, he made his Winston Cup Series debut and finished in ninth place at the Talladega 500. Petty began the 1981 season driving his father’s number 43 car but ultimately returned to racing in the number 42. He switched to the number 7 in 1983 after picking up funding from 7-Eleven. By 1985, Petty had taken his sponsorship to Wood Brothers Racing. There, he had seven top-five finishes and his first top-ten points finish. In 1986, he won his first career race in the 1986 Miller High Life 400. In 1992, Petty rebounded to a career-best fifth-place finish in points and won two separate races – Watkins Glen and Rockingham. He came very close to winning the championship in 1992 but suffered a flat tire at Phoenix, the second to last race, and broke an engine during the season’s last race. In 1993, he won the Champion Spark Plug at Pocono and duplicated his high-points finish. Coors Light became his new sponsor in 1995, and Petty won his final career cup race in the Miller Genuine Draft 500 at Dover. In 1997, Petty formed his own team, PE2, which led to two top-five finishes and nine top-ten finishes. He returned to his family’s company in 1998 and ran his team from their headquarters.
Key milestones in Kyle Petty’s racing career include his eight NASCAR Sprint Cup Series wins. He also achieved 173 Top Ten finishes and secured eight pole positions. His highest ranking was fifth in the nation in 1992 and 1993. These achievements not only solidified his reputation as a skilled driver but also attracted lucrative sponsorship deals and increased his earning potential.
After officially retiring from racing in 2008, Kyle Petty transitioned to a career as a color commentator. This move diversified his income streams. Petty served as a co-host for “NASCAR RaceDay” and “NASCAR Trackside” on SPEED, contributing to his ongoing earnings. Currently, Petty is a commentator for NBC Sports, where he can be seen on all of their NASCAR-related shows and broadcasts.
Kyle Petty: Real Estate and Other Ventures
In March 2016, Kyle Petty and his ex-wife, Pattie, listed a 380-acre estate they co-owned in Trinity, North Carolina, called Adaumont Farm. They initially listed the property for $5.5 million but sold it in June 2016 for $5.3 million. The property included a lakefront mansion and a 25,000-square-foot barn/event/equestrian center. Today, the farm is also rented out as a wedding venue.
Approximately a decade before the sale of Adaumont Farm, Kyle built a beachfront home in Isle of Palms, South Carolina, in 2001. He initially listed this home for sale at $4.5 million. He ultimately accepted $3.85 million for the property.
Outside of racing and real estate, Petty also ventured into the music industry. In 1986, he signed a record contract with RCA Records and began working on an album with Don Light. During this period, he released a single called “The Other Guy” and performed as an opening act for musicians like Randy Travis and The Oak Ridge Boys. Although he abandoned the idea of producing an album due to disagreements with his record company and management, this endeavor showcases Petty’s diverse interests and potential income streams.
Kyle Petty: Personal Life and Philanthropy
Kyle Petty was born on June 2, 1960, in Randleman, North Carolina. He is the son of Richard Petty and Lynda Owens. He grew up with his three brothers and sisters in North Carolina. He was around racing all his life, as his father and grandfather, Lee Petty, were professional NASCAR racer. As a child, he grew up racing and made his major-league stock car debut at the age of 18.
Kyle has been married twice. He married Pattie Huffman in 1979. They divorced in 2012. In 2015, he married Morgan Castano. He has six children – Adam, Austin, Montgomery, Overton, Cotton, and Davent.
Petty is active in a number of charitable causes. He has been involved with Victory Junction, a facility that serves serious illness and chronic medical conditions in children. He established Victory Junction to honor his late son, Adam, who had also been a professional racer. Adam had died during a practice racing session in 2000 when his car hit a wall and killed him instantly at the age of 19.
Additional Details Contributing to Kyle Petty’s Net Worth
While specific details about Kyle Petty’s personal investments, such as stocks, bonds, or private equity holdings, are not publicly available, it’s reasonable to assume that he has diversified his assets to ensure long-term financial stability. His earnings from racing, broadcasting, real estate, and other ventures likely contribute to a well-rounded investment portfolio.
Kyle Petty’s net worth is the culmination of his achievements in racing, broadcasting, and other entrepreneurial endeavors. His ability to leverage his racing success into other income streams has contributed to his financial standing and his overall net worth of $20 million.
