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Don Schumacher Net Worth, Biography & Wiki 2017
Donald A. Schumacher was born on the 4th November 1944, in Grand Rapids, Michigan USA, and widely known for being not only a former race car driver, but also a racing team owner – the owner of Don Schumacher Racing. He is also recognized as the owner, Chairman and CEO of Schumacher Electric Corporation, located in Chicago. He has been an active member of the sports industry since the early 1960s.
So, have you ever wondered how rich Don Schumacher is? It has been estimated by authoritative sources that Don counts the total sum of his net worth at the impressive amount of $50 million, as of mid-2016. He has been accumulating his net worth through his successful career in the sports industry not only as a race car driver, but also as the owner of a company and racing team.
Don Schumacher Net Worth $50 Million
Speaking about Don Schumacher’s early life, there is little information in the media, except that his father worked building radios, then became a bookie and won a battery-charger company when the owner died owing him money. Don was interested in cars and racing from a very early age, actually building old cars to be able to race.
When it comes to his career, Don’s driving career began in the early 1960s, and since the beginning he dominated the tracks. From the late 1960 until 1974 he won around 70% of the races in which he participated, which became the main source of his net worth at the time.
However, he left the track after eleven years, and became focused on his father’s company Schumacher Electric Corporation, producing charges. His net worth increased further, when he managed to expand the company from just 400 employees to over 2000, in the process increasing the number of products and significantly sales revenue too.
Subsequently, he returned to the track in the 1990s, but not as a racer – as a team owner concentrating largely on drag racing. He founded Don Schumacher Racing, and his son Tony became a part of the team. In 2012, his team had a fantastic record, of winning 22 NHRA National event titles, which increased the overall size of his net worth by a large margin.
Thanks to his successful involvement and consistent success in sports racing , Don was inducted into the International Motorsports Hall of Fame in 2013.
If to talk about his personal life, Don Schumacher is married to Sarah, with whom he has four children. He is the father of Tony Schumacher, who is known worldwide as a drag racer and the NHRA Champion. In his spare time, Don enjoys playing golf, hunting and fishing. His current residence is in Park Ridge, Illinois.