Gene Haas Net Worth

What Is Gene Haas’ Net Worth?

As of March 2025, Gene Haas, the American businessman and entrepreneur, has an estimated net worth of $250 million. This fortune is primarily attributed to his role as the founder, president, and sole stockholder of Haas Automation, a prominent CNC machine tool manufacturer.

Early Career and Haas Automation

Gene Haas’s journey to becoming a successful entrepreneur began after graduating from California State University Northridge in 1975 with a Bachelor of Science degree in accounting and finance. Initially, he considered majoring in engineering but shifted his focus to business. After graduation, Gene Haas worked as a machinist and CNC programmer. In 1978, Haas took a leap and established his own small machine shop called Pro-turn Engineering, which started with just two employees. Seeing the inefficiencies in manual indexer positioning, Gene Haas developed an indexer with a stepper motor drive. In March 1983, he showcased his indexer at WESTEC, an industry expo. The positive response led him to form Haas Automation to mass-produce them.

Haas Automation quickly grew, and by 1996, the company outgrew its initial facilities in Chatsworth, California. In March 1997, Haas Automation moved to a 420,000-square-foot factory in Oxnard, California. By 2005, the factory had expanded to 1,000,000 square feet (93,000 m²). The company’s sales reached over $1 billion in 2014. Haas Automation is the largest machine tool manufacturer in the United States. It produces a comprehensive line of CNC vertical machining centers, horizontal machining centers, CNC lathes, and rotary products.

Motorsports Ventures

Gene Haas expanded his business interests into motorsports, founding Haas CNC Racing in 2002. In 2008, he partnered with Tony Stewart to create Stewart-Haas Racing. Forbes estimated Stewart-Haas Racing’s value at $165 million in February 2020, with revenue of $103 million, though it had an operating income loss of $1 million. Stewart-Haas Racing will shut down operations by the end of the 2024 season. It was mentioned that SHR could sell each of its charters for between $20 million and $30 million apiece. However, Front Row Motorsports bought a Stewart-Haas Racing charter for between $20 million and $25 million.

In 2014, Haas expressed interest in entering Formula One, leading to the establishment of Haas Formula. Despite the closure of Stewart-Haas Racing in NASCAR, Gene Haas revealed plans to continue in the Cup Series with a new Haas Factory Team in 2025, utilizing one charter.

The Gene Haas Foundation

Gene Haas established the Gene Haas Foundation in 1999 to support local charities in Ventura County, California. The foundation’s mission expanded to include support for manufacturing education. The Foundation provides scholarship grants, sponsors CNC competitions, and partners with CNC training programs. In 2022, the Gene Haas Foundation provided over $27 million in grants. By 2024, the Foundation distributed over $32 million in grants, bringing its total contributions since 1999 to more than $225 million. Also, since 1999, the Gene Haas Foundation has provided more than $30 million in community-based funding to non-profit organizations.

Legal Issues

In June 2006, Gene Haas was arrested by IRS agents and charged with filing false tax returns, witness intimidation, and conspiracy. In August 2007, he pleaded guilty to felony conspiracy to commit tax evasion. Gene Haas was sentenced to two years in prison and ordered to pay $75 million in restitution. He began his sentence in January 2008 and was released on probation in May 2009 after serving 16 months.