Net Worth Ranker
What Is Rick Hendrick Net Worth’ Net Worth
Rick Hendrick, a prominent figure in American business and motorsports, has accumulated a substantial Rick Hendrick net worth. As of 2025, his Rick Hendrick net worth is estimated to be $1 billion. This impressive figure stems from his diverse business ventures, primarily his ownership of Hendrick Motorsports and the Hendrick Automotive Group.
Hendrick Automotive Group’s Contribution to Rick Hendrick Net Worth
The Hendrick Automotive Group significantly contributes to Rick Hendrick net worth. Founded by Hendrick, this automotive empire comprises 140 franchises across 14 states. As chairman, Hendrick oversees the operations of the sixth-largest dealership group in the United States. In 2016, the Hendrick Automotive Group generated approximately $9 billion in revenue, illustrating the scale of its operations and its impact on Rick Hendrick net worth. The company employs over 10,000 people, further highlighting its economic significance.
Rick Hendrick’s journey into the automotive industry began after college. He opened a small used-car lot and quickly advanced, becoming a general sales manager at the age of 23. By 26, he acquired a Bennettsville, South Carolina, franchise, making him the youngest Chevrolet dealer in America. This early success paved the way for the establishment of the Hendrick Automotive Group.
Hendrick Motorsports and Its Impact on Rick Hendrick Net Worth
Hendrick Motorsports, the NASCAR team owned by Rick Hendrick, has been a major factor of Rick Hendrick net worth. Founded in 1984 as All-Star Racing, the team has achieved remarkable success in NASCAR. Hendrick Motorsports has secured 16 Drivers’ Championships, 345 race wins, and 290 pole positions across various series, including the NASCAR Cup Series, where it has won 12 championships. This sustained success has not only solidified Hendrick’s reputation as a leading team owner but also contributed significantly to his Rick Hendrick net worth through sponsorships, merchandise sales, and race winnings.
The Hendrick Motorsports headquarters, located in Concord, North Carolina, spans 140 acres and houses a 430,000 square foot facility employing 600 individuals. This large-scale operation reflects the investment and infrastructure that support the team’s racing endeavors.
Notable drivers who have raced for Hendrick Motorsports include Jeff Gordon, Dale Earnhardt Jr., Jimmie Johnson, Chase Elliott, Alex Bowman, and William Byron. The team’s ability to attract and develop top talent has been crucial to its success and continued contributions to Rick Hendrick net worth. In December 2018, Hendrick announced that Jeff Gordon would eventually succeed him in overseeing Hendrick Motorsports, indicating a strategic plan for the team’s future leadership.
Early Life and Education
Joseph Riddick Hendrick III, known as Rick Hendrick, was born on July 12, 1949, in Warrenton, North Carolina. He was raised on a farm near Palmer Springs, Virginia, by his parents, Mary and Joseph, alongside his brother, John. Hendrick’s early exposure to mechanics and racing ignited his passion for automobiles. At the age of 14, he built a 1931 Chevrolet and began drag racing. By 16, he demonstrated his mechanical aptitude by winning the Chrysler-Plymouth Troubleshooting Contest (Virginia division). Hendrick attended Park View High School in Virginia. After high school, he enrolled in a co-op work study program offered by Westinghouse Electric Company and North Carolina State University, though he initially considered a career in baseball.
Racing Career Details
Before focusing solely on team ownership, Rick Hendrick was actively involved in racing. He competed in the NASCAR Sprint Cup Series, NASCAR Nationwide Series, and NASCAR Camping World Truck Series. In the late 1970s, Hendrick established a drag boat racing team that secured three championships and set a world record. In 1983, he co-owned and sponsored NASCAR Late Model Sportsman Series cars, achieving a win with Dale Earnhardt. The following year marked the inception of All-Star Racing, now known as Hendrick Motorsports, with Geoff Bodine as the driver, finishing ninth in the season after competing in 30 races.
Personal Life and Family
Rick Hendrick’s personal life has been marked by both joy and tragedy. He met his wife, Linda, at an ice cream parlor, and together they had two children, Ricky and Lynn. Ricky, who followed in his father’s footsteps as a race car driver, tragically died in a plane crash in 2004 at the age of 24. The crash also claimed the lives of nine other people, including Rick’s brother and two of his nieces. In 2011, Rick and Linda were involved in a plane crash landing at Key West International Airport. While Linda sustained minor injuries, Rick suffered a fractured clavicle and three broken ribs. In 1996, Hendrick was diagnosed with chronic myelogenous leukemia and has been in remission since 1999.
In 1997, Hendrick faced legal challenges and was sentenced to a year of home confinement, a $250,000 fine, and three years’ probation after pleading guilty to mail fraud. He admitted to providing BMWs, houses, and large sums of money to American Honda Motor Company executives in the 1980s. However, President Bill Clinton pardoned him in 2000.
Philanthropic Endeavors
Rick Hendrick and his wife, Linda, have been actively involved in philanthropic activities. In 1997, they established the Hendrick Marrow Program, which raises funds to add potential donors to the Be The Match Foundation’s registry and assists patients with transplant costs not covered by insurance. By 1999, the Be The Match Foundation recognized their contributions with the Leadership for the Life Award. Hendrick also supports Charlotte’s Levin Children’s Hospital and The Hendrick Foundation for Children, founded by his late brother in 2004. In 2016, Rick and Linda formed the Hendrick Family Foundation, which now encompasses the Hendrick Marrow Program, having raised over $15 million since its inception. The Hendrick Family Foundation also supports charities established by Hendrick Motorsports drivers, such as the Chase Elliott Foundation and the Jimmie Johnson Foundation. These charitable endeavors underscore Hendrick’s commitment to giving back to the community.
Awards and Honors Recognition
Rick Hendrick has received numerous accolades throughout his career. In 1996, he was honored with The Order of the Long Leaf Pine, the highest civilian honor in North Carolina. That same year, he received a Horatio Alger Award from the Horatio Alger Association of Distinguished Americans. In 2009, Hendrick was presented with the Bill France Award of Excellence at the Sprint Cup Series Awards Ceremony, and in 2014, he received the Automotive News Lifetime Achievement Award. Hendrick’s contributions to motorsports have been recognized with inductions into the NASCAR Hall of Fame (2017), the International Motorsports Hall of Fame (2013), and the Motorsports Hall of Fame of America (2020).
Real Estate, Yacht, and Jet Holdings
Rick Hendrick’s assets extend beyond his business ventures to include significant real estate and luxury items. In 2000, he purchased a 12,803 square foot home in Charlotte, North Carolina, for $3.65 million. This residence features six bedrooms and eight bathrooms. Hendrick also owns a $35 million yacht and a Gulfstream G-V private jet valued at $15 million, reflecting his affluence and lifestyle.
