Rusty Wallace Net Worth

What is Rusty Wallace's Net Worth?

Rusty Wallace is an American former NASCAR racing driver who has a net worth of $40 million. Widely considered one of the greatest NASCAR drivers of all time, Rusty Wallace won the 1984 NASCAR Rookie of the Year Award and the 1989 NASCAR Winston Cup Championship, and finished his 26-year career with 55 wins. He was inducted into the NASCAR Hall of Fame and the International Motorsports Hall of Fame in 2013.

Early Life

Russell Wallace Jr. was born on August 14, 1956 in Arnold, Missouri. His younger brothers, Mike and Kenny, also became NASCAR drivers.

Career Beginnings

Before joining NASCAR, Wallace was an accomplished racing driver in Florida, where he won two local track championships and over 200 short track races. In 1979, he won Stock Car Rookie of the Year honors from the United States Auto Club.

NASCAR Career

Wallace made his NASCAR debut in Atlanta in 1980, driving for Penske Racing. He finished in second place in that race. Over the subsequent three years, Wallace made nine total NASCAR appearances and had one more top-ten race finish. In 1984, he joined the Winston Cup Series full-time, driving for Cliff Stewart. Wallace earned NASCAR Rookie of the Year honors for his season. After driving for Cliff Stewart again in 1985, Wallace moved to Blue Max Racing in 1986. This became his breakout year, as he finished sixth in points with two wins, four top-five finishes, and 16 top-ten finishes. Wallace improved in 1987 by finishing fifth in the points standings. In 1988, despite a near-fatal crash during a practice run at Bristol, Wallace ended up having his most successful career season yet, finishing second in points after notching a series-leading six wins as well as 19 top-five finishes. He finally won the NASCAR Winston Cup Championship in 1989 after again leading the series in wins. Wallace spent one more year with Blue Max Racing in 1990, winning the Coca-Cola 600.

In 1991, Wallace returned to Penske Racing and went on to win the International Race of Champions competition. Although he only claimed a single win in 1992, it was a satisfying one at the Miller 400. Wallace had a much better season in 1993 despite two serious accidents at Daytona and Talladega, respectively. He won the inaugural race at New Hampshire Motor Speedway and won a series-leading ten races overall, placing him second in the final points standings. Wallace led the Winston Cup Series in wins for a fourth and final time in 1994, this time finishing third in points. He finished fifth in points in 1995, seventh in 1996, and ninth in 1997. In 1998, Wallace won the Bud Shootout at Daytona, his first and only victory in a Cup car at NASCAR's premier track. At the dawn of the new millennium, he reached a milestone with his 50th career win at Bristol, and finished the season in seventh place in points. Wallace would win his 55th and final race on a short track at Martinsville Speedway in 2004. The final NASCAR race of his career was in the O'Reilly Auto Parts Series at Texas Motor Speedway in 2005.

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Other Endeavors

In 1984, Wallace founded Rusty Wallace, Inc., which began as a marketing firm before becoming a NASCAR racing team in 1985. Owned by Wallace, the team mostly competed in the Busch and Nationwide Series. In 2013, the team folded due to a lack of sponsorship. Elsewhere, in Newton, Iowa, Wallace designed Iowa Speedway, which broke ground in mid-2005. In the world of broadcasting, he has covered auto racing events on ESPN and ABC and done booth announcing for Motor Racing Network.

Among his many other endeavors, Wallace is the principal stakeholder in the Rusty Wallace Automotive Group, which comprises nine car dealerships in Tennessee. He also sits on the board of directors of the NASCAR Foundation, serving as the head of the group's development committee. Through various motorcycle rallies, Wallace raises money for youth programs, hospitals, and other local organizations and causes. Additionally, he does public speaking, golfs, and flies planes.

Personal Life

With his wife Patti, Wallace has three children named Greg, Katie, and Stephen. The lattermost raced in the NASCAR Xfinity Series and made his Cup Series debut in the 2011 Daytona 500.

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