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Felix Sabates Net Worth, Biography & Wiki 2017
Feliciano Sergio Sabates Jr. was born on the 9th September 1945, in Camagüey, Cuba and is an entrepreneur and philanthropist. Although Cuban by origin, Felix Sabates is a well known American businessman, and one of the most respected NASCAR Racing Team owners. Felix was the owner of SABCO Racing ’til 2000, when he began a partnership and co-ownership with Chip Ganassi Racing.
Have you ever wondered how much wealth this “fun-loving” Cuban-American has accumulated so far? How rich Felix Sabates is? According to sources, it is estimated that the total amount of Felix Sabates’ net worth, as of late 2016, is $200 million, including ownership of several luxurious yachts. It has all been acquired through his endeavors in the world of stock car racing, as well as several other successful business companies.
Felix Sabates Net Worth $200 million
Felix Sabates was the eldest of seven children in a wealthy family, which in its possession had several successful businesses, including an export business, jewelry and optics stores, as well as insurance and agricultural firms. As a teenager, Felix attended military school, but after establishing the Cuban Revolution in 1960, the new communist government, led by Fidel Castro, nationalized plenty of private business companies and the Sabates’ were no exception. With nothing left of their previous wealth, Felix’s parents sent him to the US – in 1960 at the age of 15 – the first of numerous Sabates family members to do so,. In the beginning, Felix did many odd jobs, including furniture manufacturing and car rental. Felix’s first major job was at the City Chevrolet car dealership, where he began working as a salesman, and was so successful in the sales business that he set several sales records. After the newspapers published the story about young Felix and his accomplishments, he was approached by a local businessman, who offered him the position of manufacturer’s representative. These early achievements provided the basis for Felix Sabates’ now quite impressive overall net worth.
In 1969, Felix Sabates got the position of salesman in the Top Sales Company Inc. (TSC), and again was so successful that in 1974 he bought the company and expanded its business further. Under the leadership of Felix, the TSC became the market leader on with over $12 billion revenues in sales. In 2000, he sold the TSC to its employees at a much lower rate than the company’s real worth, a decision which negatively impacted Felix Sabates’ net worth, but on the other hand, it brought him a good reputation among the people.
In 1988, Felix Sabates had purchased Hatteras Yacht dealership in Stuart, Florida and within just two years made it into the biggest Hatteras dealership in the world. Following this successful venture, in 2000 Felix bought world’s largest custom yacht manufacturer – Trinity Yachts. Apart from those mentioned above, Felix is also the owner of IYC, the world’s largest yacht management and construction company. He is also the co-owner of awarded Mercedes Benz dealership and is the CEO of FSS Holdings Inc. It is certain that all these successful business enterprises have helped Felix Sabates to increase his overall net worth by a large margin.
In 1987, Felix Sabates entered the world of stock car racing as the owner of NASCAR team SABCO Racing. It was later rebranded as Team SABCO, and contracted some of the best drivers such as Sterling Marlin, Bobby Hamilton, Jeff Green, Ted Musgrave and Joe Nemechek. In 2001 Felix Sabates teamed up with Chip Ganassi – he purchased 80% of Ganassi’s team, and Chip Ganassi Racing with Felix Sabates was born. However, in 2014 the team changed its name to Ganassi Racing. The team’s successes and awards has been contributing to the overall net worth of Felix Sabates ever since.
When it comes to his personal life, Felix Sabates was married ‘til 2010 when he filed for divorce from his wife Carolyn with whom he has three children. Besides for his business, Felix Sabates is also known for his civic and philanthropic efforts.