Roger Penske built his business empire from a foundation in motorsport. Initially known as a driver and then a team owner — Team Penske became one of the most successful organisations in American open-wheel and stock car history — Penske progressively expanded into track ownership, vehicle leasing, and automotive retail, constructing a conglomerate in which motorsport and commercial transportation are structurally intertwined rather than separate divisions.
The corporation is privately held, meaning detailed financial disclosures are not publicly required, though its subsidiary Penske Automotive Group (in which the corporation holds a stake of more than 40 percent) is publicly listed and provides partial visibility into the group's scale.
Penske's most prominent motorsport asset is Penske Entertainment Corporation, a joint venture with Fox Corporation in which Penske holds 67 percent. Penske Entertainment is the parent of INDYCAR, LLC — the sanctioning body of the IndyCar Series — and of Indianapolis Motor Speedway, the 2.5-mile oval in Speedway, Indiana that hosts the Indianapolis 500. The acquisition of Indianapolis Motor Speedway and INDYCAR from the Hulman-George family, completed in 2020, represented one of the most significant ownership changes in American motorsport in decades. Penske Entertainment also encompasses IMS Productions (television broadcast facilities), the Indianapolis Motor Speedway Radio Network, and the promoter entities for the Grand Prix of Long Beach and the Detroit Grand Prix.
Team Penske, the racing arm, fields entries in the IndyCar Series, IMSA SportsCar Championship, NASCAR, and the World Endurance Championship. Ilmor Engineering, a high-performance motorsport engine developer founded by Mario Illien and Paul Morgan and later part-acquired by Penske, handles advanced powerplant work. Penske Racing Shocks produces suspension components for motorsport applications.
On the commercial side, Penske Truck Leasing (a joint venture with Mitsui and Co.) is one of the largest commercial truck leasing operations in North America, and Penske Logistics provides supply chain management services. Penske Motor Group operates retail automotive outlets in California and Texas. Premier Truck Group covers commercial vehicle dealerships.
Roger Penske acquired Michigan International Speedway in 1973, saving it from foreclosure auction and transforming it into one of CART's premier superspeedway venues. Penske later assembled multiple tracks under the Penske Motorsports Inc. banner before merging the company with the France family's International Speedway Corporation in 1999.
Detroit Diesel, originally a General Motors subsidiary, was partially acquired by Penske in 1988 and spun off as an independent company; it was sold to DaimlerChrysler in 2000. A 51-percent stake in DJR Team Penske, the Australian Supercars organisation co-owned with Dick Johnson Racing, was sold in 2020. VM Motori, an Italian diesel engine manufacturer, was acquired progressively from 2003 and eventually sold to Fiat in 2013. Penske Auto Centers operated repair centres within Kmart stores from 1995 to 2002.
The acquisition of IndyCar and Indianapolis Motor Speedway placed Penske Corporation at the structural centre of American open-wheel racing. Few private individuals in motorsport history have simultaneously controlled a premier racing series, its most iconic venue, a top-line team competing in that series, and the engine development operation supplying competitors. This vertical integration across sanctioning, promotion, competition, and engineering is distinctive in global motorsport.
Roger Penske's decision to invest in the Indianapolis facility and its surrounding infrastructure — upgrading amenities, modernising operations, and expanding the event calendar — was described at the time as a commitment to restoring the prestige of the Indianapolis 500 and the IndyCar Series more broadly.