This is How Danica Patrick Achieved a Whooping Net Worth of $60 Million

American open-wheel racing is a male-dominated sport but a few women have competed in it over the years. However, none of them have matched the success of Danica Patrick, regarded as the most successful woman in the history of the sport. In over two decades in the game, she recorded victories that many believed was out of the reach of women. Thus, it is no surprise that this reputation and accomplishments have helped Danica Patrick to an enviable net worth of $60 million.

We take a look at the individual factors that contributed to Danica Patrick’s net worth. Check it out below.

How Danica Patrick Achieved her Net Worth

People transforming their hobbies into mega sources of income is a story that has defined some of the wealthiest people on the planet, and Danica Patrick is not exempt. She started life as a racer by racing go-karts. Fun, sweet family time for many became the foundations of international success for Danica, and the setup for a life with a net worth of $60 million.

From her go-karting years to retiring after more than two decades as a pro-racer, three things have been responsible for her wealth – her salary as a racer, sponsorship and endorsement deals, as well as business investments.

Her Salary as a Racer

Unlike other sports like the NBA or the NFL, where salaries are a part of the mainstream conversation, the story is a little different when it comes to professional car racing.

We know that at the twilight of her career, Danica Patrick was earning as much as $6.4 million in salary, a figure that made her one of the highest-paid racers in NASCAR. In addition to her salary which she earned regardless of where she finished in her races, she also gets money via her winnings. In 2011, at the peak of her career, Danica Patrick earned as much as $12 million in salary.

READ   The 25 Richest Comedians In The World And Their Net Worth

According to the public information about average NASCAR winnings, race winners can make up to $1 million for winning a race, with other positions earning marginally lower down to the finish list. Considering Danica Patrick regularly finished among the best throughout her career, there is no doubt that she racked in millions each year in winnings, outside of her standard salary.

Throughout her career, she competed in various open-wheel racing competitions, such as the NASCAR Cup Series, the NASCAR Xfinity Series, and the IndyCar Series. She achieved the record of becoming the first woman to win a Cup Series, one among many other records in her racing career.

Endorsement Deals

Aside from her salary and winnings as a racer, Danica Patrick further earned her $60 million net worth via endorsement and sponsorship deals. Open Wheel Racing, while popular, does not compare to the popularity and financial clout of the NFL or NBA.

As a result, drivers tend to have sponsors who pay to advertise on their uniform and their car. During her career, Danica Patrick had several sponsors, like Ford, Premium Motorsports, Chevrolet, Coca-Cola, Go Daddy, Nationwide Insurance, Peak Antifreeze, and several others.

Danica Patrick net worth
Danica Patrick made a lot of money from brands advertisement on her uniform

It is unknown how much she made from each endorsement and sponsorships. However, in the twilight of her career, she still earned up to $6.5 million in licensing and endorsements, according to Forbes Magazine.

If she could pull up to $6.5 million in 2018, when she was partly retired from the sport, one imagines she earned a lot more when she was still an active and full-time competitor in the sport.

READ   The 20 Richest People Of All Time
READ   Top 20 Highest Paid TV Actors In The World For 2020 And Their Net Worths

While she no longer has racing uniforms and cars to earn from for endorsement deals, her transition into a media personality keeps the endorsement income coming. She currently makes up to $5 million per year in endorsements.

She works as an actress, podcast host, model and has modeled for magazines like Sports Illustrated, FHM, ESPN: The Magazine.

See Also: Paul Edward Hospenthal – Bio, Age & Facts About Danica Patrick’s Ex-Husband

Business Investments

Lastly, and perhaps the most significant contributor to her net worth since she retired from open-wheel racing is Danica Patrick’s business investments.

Her $60 million net worth is maintained and grown with investments such as her wine vineyard, Somnium, which produces Somnium Wine. She also has a clothing collection designed for athleisure, Warrior by Danica Patrick.

This, combined with her earnings from a long and successful career, as well as income from lucrative sponsorship and endorsement deals, is how Danica Patrick achieved her $60 million net worth.

Adeola Seun
Adeola Seun
Seun is a CCNA certified graduate of FUTA. He has been writing on various subjects that include finance, economics, celebrity net worth, lifestyle, biographies and politics for over 7 years, Other than writing, he enjoys movies, video games, and sports

Recommended

What Is Lady Gaga’s Net Worth in 2020 & Does She Have A Husband Or Boyfriend?

What is Lady Gaga's net worth? Lady Gaga needs no introduction. The American singer, songwriter, and actress is simply one of the most iconic entertainers...

Ellen Degeneres – Net Worth in 2020, Wife & Divorce Rumours

What is Ellen Degeneres' net worth? TV Talkshow has been a common thing in the current entertainment world. There are many TV talk show hosts,...

Madonna – Age, Net Worth in 2020 & Children

Madonna is a multifaceted American entertainer who works as a singer, songwriter, record producer, dancer, actress, film director, author and businesswoman. In the various...

Is Mike Tyson Dead or Alive? Who Are His Wife & Children?

The name Mike Tyson quickly calls to mind boxing rings and knockouts. Mike Tyson was a famed boxer who though now retired had made...

Allen Iverson – Net Worth in 2020, Wife & Family

What is Allen Iverson's net worth? Allen Iverson is a multi-award winning ex-basketball player and present coach of 3's Company in the BIG3. Regardless of his...

A Walk Through Steve Harvey’s Net Worth in 2020, Relationship History and Kids

Once homeless for three years and having to live in his car, Steve Harvey has come a long way. Raised in the streets of...

Donald Trump – Age, Family & Net Worth in 2020 – Biography

Donald Trump is a real estate mogul who has been in the entertainment scenes for more than a decade. Trump began surfacing on the...

A Timeline Of John Cena’s Relationships, Net Worth and Family Details

John Cena is one of the most popular WWE personalities. He is known for his incredible performances in the ring and the many achievements...

More From Justrichest

Inside Jay Leno’s Massive Car Collection, Net Worth & Family Life

Jay Leno is without doubt, one of the finest and most mature entertainers America has ever produced. A multiple award-winning stand-up comedian, writer, TV...

12 Biggest and Most Expensive Homes of Extravagant Footballers In 2020

The huge and decent earnings of footballers grant them the audacity to exemplify lavish spending and also enable them to sustain every aspect of...

Jessica Nigri Net Worth: How Much Money Does The Cosplayer Make?

Jessica Nigri is a well-known American cosplayer. For the benefit of those who don’t know, Cosplay is derived from the words costume and play....

20 Strongest and Most Powerful Currencies in The World (Updated 2020)

According to World Atlas, there are 180 currencies in circulation that are recognized by the United Nations across the wide world and these are...

Featured Today

These 5 Facts Will Tell You All About Guraish Aldjufrie and What He Does For A Living

A truly industrious and really shrewd man, Guraish Aldjufrie is known for being the ex-husband of Kyle Richards. For the record, Kyle Richards is...

Who is Zack Snyder’s Daughter Autumn Snyder and Why Did She Commit Suicide?

It could be hard to understand why someone would ever take their own life; leaving their family and loved ones to suffer in a...

What Is Wrong With Barron Trump, Is He Really Autistic? Where Is He Now?

Autism is prevalent and can affect people of all ethnic, racial and socioeconomic groups. The disorder, which limits a person's ability to relate and...

Who Is Sandra Otterson? Her Personal Wealth, Life and Quick Facts

American adult star, Sandra Otterson, currently based in Arizona, USA has is worth about $5 million. Background and Career Sandra Otterson, popular with the name ‘Wifey‘...

Related Stories