Floyd “Chip” Ganassi, Jr was born on 24 May 1958 in Pittsburgh, Pennsylvania USA, where he also won his first auto race in a Formula Ford at the tender age of 18. Few people have managed to build their wealth from their careers doing what they love to do, but Chip Ganassi has made a successful career in racing, first as a driver, but best known as the owner of Chip Ganassi Racing (CGR), now spanning over 35 years.
So just how rich is Chip Ganassi? Chips net worth is estimated by sources to be over $20 million as of early 2016, most of his wealth accumulated from being a race car driver, but especially from owning and managing Chip Ganassi Racing (CGR).
Chip Ganassi Net Worth $20 Million
Ganassi had a relatively normal upbringing, except that he had a desire to compete in any kind of racing sports activities. Even though this was more of a hobby than a goal for him, his parents supported him. Ganassi’s supportive parents even went as far as allowing him (at the age of 16) and his 17-year old friend to drive from Pennsylvania all the way to California just to participate in a motorcycle race.
Ganassi tried a different kind of motor racing after competing in nearly three dozen motorcycle races – auto racing – which jump-started his career. Even in his teens he was a busy man, he was attending college at Duquesne University, at the same time working for his father. Chip may have inherited his leadership and management skills from his father, Floyd Ganassi Sr. who owned FRG Group where Chip was the Vice President also. His father’s company was involved in commercial real estate, transportation and other areas. However, Chip was also competing in amateur races until in 1981, when he became regional champion. His professional racing career started with Super Vee, but a few days after graduating with a BA degree in Finance from Duquesne University, he qualified for the Indianapolis 500; it is important to highlight that at that time Chip was one of only 100 people to have ever qualified.
Subsequently his career highlights include finishing in 6th place in the Robert Bosch Formula Super Vee Championship in 1981 with his March-Volkswagen 79/80SV Ralt-Volkswagen RT5 car. It should be noted that he was not part of any racing team yet when he broke into car racing, but then his performance caught the eye of team owner Pat Patrick and he raced for them from 1981 – 1984. Unfortunately, Ganassi’s racing career effectively ended with crash at the Michigan 500 in 1984, suffering serious injuries, although he raced intermittently over the next three years, even winning the Kodak Copies 500 in 1986. However, he then bought into Patrick Racing in 1988, and his second career began.
After winning the Indianapolis 500 with Emerson Fittipaldi in 1989, as well as the CART series, Chip Ganassi formed his own team Chip Ganassi Racing (CGR) which would later bring him fame and fortune! The team has been very successful since its inception in CART, INDYCAR, NASCAR, GRAND-AM and, now, the TUDOR United SportsCar Championship, that many drivers crave to drive for his it.
It took CGR four seasons to win a race, but since then Ganassi has led the team to wins in all championship types, beginning with Indycar in 1996, through innovation in car design and recruitment of drivers capable of doing the job in those different types. Names such as Jimmy Vasser, Alex Zanardi, Dan Wheldon, Dario Franchitti and Juan Pablo Montoya are synonymous with CGR, and Chip is still going strong.
In his personal life, Chip Ganassi married tennis pro athlete, Cara Small in 1995, and they have a daughter, Tessa Ganassi who seems destined to follow in her father’s footsteps appearing at the Indianapolis 500 to make the first selection in the qualifications draw. The Ganassi family still resides in Chip’s hometown in Pittsburgh, Pennsylvania to this day.
