Kyle Larson, an American professional stock car racing driver, has made a significant mark in the world of motorsports. As of 2024, his estimated net worth stands at an impressive $30 million. This wealth is a result of his successful racing career, lucrative endorsements, and various business ventures. Larson’s journey in racing began at a young age, and he has since become one of the most recognized names in NASCAR.
Born on July 31, 1992, in Elk Grove, California, Kyle Miyata Larson was introduced to racing just a week after his birth. His passion for the sport ignited at the age of seven when he started racing outlaw karts. Over the years, he transitioned to open-wheel cars and sprint cars, quickly establishing himself as a formidable competitor. Larson’s early achievements included winning his first sprint car race at Placerville Speedway, making him one of the youngest drivers to do so.
Racing Career
Larson currently competes full-time in the NASCAR Cup Series, driving the No. 5 Chevrolet Camaro ZL1 for Hendrick Motorsports. He also participates part-time in the NASCAR Xfinity Series, driving the No. 17 Chevrolet Camaro. His racing career has been marked by numerous accolades, including being named the USAC Silver Crown Rookie of the Year in 2011 and the NASCAR Cup Series Rookie of the Year in 2014.
Throughout his career, Larson has secured several prestigious victories, including the 2021 NASCAR Cup Series Championship, the 2021 Coca-Cola 600, and multiple wins at the Chili Bowl Nationals. His ability to excel in various racing formats, including dirt track racing, has solidified his reputation as a versatile and talented driver.
Career Earnings
Between June 2018 and June 2019, Larson earned approximately $9 million, making him one of the highest-paid NASCAR drivers during that period. However, his career faced a significant setback in 2020 when he was suspended by NASCAR after using a racial slur during a livestream. This incident led to the loss of sponsorships and his position with Chip Ganassi Racing. Despite this, Larson made a strong comeback, earning around $8 million in 2021 with Hendrick Motorsports.
Over his racing career, Larson has accumulated approximately $26 million in salary and winnings. His current contract with Hendrick Motorsports, which runs until 2026, is estimated to be worth around $10 million annually, contributing significantly to his net worth.
Endorsements and Sponsorships
Larson’s success on the track has attracted numerous endorsements and sponsorships. Major brands such as HendrickCars.com, Target, Chevrolet, Oakley, and iRacing have partnered with him, enhancing his income and marketability. In 2024, he secured a deal with Prime Hydration, a brand co-founded by Logan Paul and KSI, further diversifying his endorsement portfolio.
His ability to regain sponsorships after the 2020 controversy demonstrates his resilience and popularity in the sport. Larson’s partnerships not only support his racing career but also contribute to his overall net worth.
Investments and Business Ventures
In addition to his racing career, Larson has ventured into business. He co-owns the High Limit Racing Sprint Car Series, which began in 2023 and has expanded to a 60-race calendar by 2024. This series has proven to be a successful investment, showcasing Larson’s entrepreneurial spirit.
Larson has also made significant real estate investments, including a $5.6 million home in Scottsdale, Arizona. This luxurious property features seven bedrooms, ten bathrooms, and amenities such as an infinity pool and a gym, further enhancing his asset portfolio.
Personal Life
Kyle Larson is married to Katelyn Sweet, who has been a steadfast supporter throughout his career. The couple tied the knot in September 2018 and has three children together: Owen, Audrey, and Cooper. Katelyn, a former equestrian and marathon runner, has gained attention for her enthusiastic celebrations of Larson’s victories.
Larson’s family background is also noteworthy; his mother is Japanese-American, and his heritage plays a significant role in his identity as a driver. He has expressed pride in being the first Japanese-American driver in NASCAR, and he actively promotes diversity within the sport.
Charity Work
In 2021, Larson established the Kyle Larson Foundation, focusing on supporting youth, families, and communities in need. One of the foundation’s key initiatives is the “Drive for 5” campaign, which aims to raise $500,000 to provide scholarships, meals, and grants to deserving individuals and families. Larson collaborates with organizations like The Sanneh Foundation and the Urban Youth Racing School to promote education and opportunities in motorsports.
FAQs
What is Kyle Larson’s net worth in 2024?
Kyle Larson’s estimated net worth in 2024 is around $30 million.
Which team does Kyle Larson race for?
Larson currently races for Hendrick Motorsports, driving the No. 5 Chevrolet Camaro ZL1 in the NASCAR Cup Series.
What are some of Kyle Larson’s major achievements?
Some of Larson’s major achievements include winning the 2021 NASCAR Cup Series Championship, multiple Chili Bowl Nationals titles, and the 2021 Coca-Cola 600.
What endorsements does Kyle Larson have?
Larson has endorsements from several major brands, including HendrickCars.com, Target, Chevrolet, and Prime Hydration.
What philanthropic work does Kyle Larson do?
Larson’s Kyle Larson Foundation focuses on supporting youth and families in need, with initiatives like the “Drive for 5” campaign to provide scholarships and meals.
In conclusion, Kyle Larson’s journey from a young racing enthusiast to a successful NASCAR driver and entrepreneur is a testament to his talent and determination. With a bright future ahead, Larson continues to make waves in the racing world while also giving back to the community.