Penske is the owner of the auto racing team Team Penske, the Penske Corporation, and other automotive-related businesses.
Penske also owns the most victories as an owner in the Indianapolis 500; 15 owner victories.
A winning racer in the late 1950s, Penske was named 1961's Sports Car Club of America Driver of the Year by Sports Illustrated.
After retiring from driving a few years later, he created one of the most successful teams in IndyCar Series and NASCAR racing.
He is also known by his nickname of "The Captain".
He also is one of the corporate directors at General Electric and was chairman of Super Bowl XL in Detroit, Michigan.
He was previously on the board of The Home Depot and Delphi Automotive before resigning to chair the Detroit Super Bowl Committee.
He has an estimated net worth of $1.1 billion.
He is a 1959 graduate of Lehigh University in Pennsylvania, where he was also a member of the Phi Gamma Delta fraternity.