How Denny Hamlin Achieved a Net Worth of $65 Million

Denny Hamlin

Denny Hamlin is an American race car driver and NASCAR team owner who competes full-time in the NASCAR Cup Series with a Toyota Camry. He began his racing career racing go-karts in 1988 when he was only seven years old. When he debuted his career, his father supported him because he realized his passion for the sport. According to Sports Casting, he kept circling around even after the race was over.

Denny did not only receive the support of his father but from his mother and teachers too. The teachers found a way of incorporating his passion into his schoolwork. Thanks to the support he received, he became better at the sport in school and pursued it professionally. Since then, he has won many race car events, which have largely contributed to his net worth. Here are details on how Denny Hamlin achieved a net worth of $65 million.

2004-2006

In 2004, he competed in five NASCAR Craftsman Truck Series races. He had a rough start and finished tenth place in his NASCAR debut at Indianapolis Raceway Park. Later, he participated in the ARCA RE/MAX Series race at Talladega Superspeedway and finished third. Denny ran the full season in 2005 after replacing Mike Bliss in the No. 20 Rockwell Automation Chevrolet in the Busch Series.

He finished fifth in the final championship as a rookie with top earnings of $1,064,110. That same year, he made his Cup debut at Kansas Speedway with the No. 11 FedEx Chevrolet. He finished the Cup season with three top ten finishes. The following year, he ran his first full season in the NASCAR Nextel Cup Series. In his first restrictor-plate race, he beat all the previous year’s (2005 season) pole winners in the 70-lap 2006 Budweiser Shootout. He became the first Rookie of the Year candidate to take the Shootout victory.

2016

At this time, he participated in the Daytona 500 event. He was driving side-to-side with Martin Truex Jr. They both crossed the start-finish line making it one of the closest Daytona 500 finishes in history. However, Hamlin had led a race-high 95 laps and prevailed by 0.011 seconds. Next, he took part in the Cup and Xfinity races during the Coca-Cola 600 weekend. He finished fourth in the former and first in the latter.

2019

Denny began the 2019 season by breaking a 47-race winless streak with his second Daytona 500 win. Next, he scored his second win at Texas. The other race he took part in was the Spring Dover Race, where he encountered a setback. He experienced an accident when one of his car’s right rear crush panels was hit. As a result, it allowed carbon monoxide fumes into the car. As a result, he had to be rushed to the hospital for carbon monoxide poisoning. Thankfully, he bounced back and even scored wins at the Pocono and the Bristol Night Race.

2020

This year was great for him since he won his third Daytona 500 race. He beat Ryan Blaney to the finish in overtime by 0.014 seconds. This was yet another narrow victory since the 2016 Daytona race. Unfortunately, his victory was overshadowed by a certain event. At that time, another racer named Ryan Newman was involved in an accident.

He had to be rushed to the hospital, which meant Denny had to cut short his celebration. The driver continued to score wins at Darlington, Homestead, Pocono, and Kansas. At Homestead, he won both stages before winning the race and earned 60 points in the standings. As for Pocono, he finished second behind Kevin Harvick. After Kansas, he took the lead in most wins and officially became the man to beat.

Ownership of 23XI Racing

Denny owns 23XI Racing with retired basketballer Michael Jordan. The organization fields the No. 23 and 45 Toyota teams for drivers. 23XI Racing earns when their teams emerge victorious in the races. However, the organization earns a lot of money from sponsorships. Thanks to Denny’s past victories, organizations felt confident to sponsor his organization.

The company is sponsored by primary sponsors like DoorDash, McDonald’s, Dr. Pepper, Columbia Sportswear, and Root Insurance. According to Huddle Up, the sponsorship deals range from $5-35 million annually. Besides primary sponsors, the organization enjoys sponsorships from associate sponsors. These sponsors pay anywhere from $250,000 to $2 million annually.

He Lives in the Lake Norman Mansion at Cornelius, North Carolina

Denny began building this mansion in 2014. The mansion is so vast since it occupies 30,000 square feet of land. Due to the colossal size, Denny perfects his driving skills from home without going to the road. Another entertainment facility in the home is a 110’ projected screen that can be split into five panels. That means you can enjoy several different shows simultaneously. Another notable feature of the mansion is its glass elevator. Typically, you would use elevators in offices due to how big they are. By having an elevator, you now understand how astronomical the house is.

He Had Also Bought a House in River Run Country Club, North Carolina, in 2004

At the time, the house was $344,000 when he bought it. In 2015, he listed the house for sale at $510,000 but later reduced the price to $435,000. According to SFGATE, the house was finally sold for $416,000. It has five bedrooms and four baths. This house occupies 3,750 square feet of land and features an open layout that allows plenty of sunlight. The house is ideal for practicing sports since it has walking trails, a tennis court, and a swimming pool.

Conclusion

Growing up, your parents and teachers likely insisted on improving your academic performance. It did not matter whether you were good at other things besides academics. Lucky for Denny, his parents and teachers supported his driving career from his childhood. Without their support, he would likely not be the rich and famous driver that he is today. Also, the driver did not earn only from racing. He has an organization that teaches us to diversify our income. You should not be satisfied earning from one stream since you cannot predict what will happen to it.

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