Bruton Smith Net Worth
Bruton Smith Net Worth is a famous Sports Executive. Bruton Smith is the owner and CEO of Speedway Motorsports, Inc. a company that operates eight NASCAR racing tracks. He was born on March 3, 1927 and is 96 years old. He is a native of Oakboro, North Carolina and has four children.
Smith is a pioneer in the promotion of motorsports events. He was one of the first to offer large purses and upgraded facilities for fans. He was also the first to take a motorsports business public. Smith is also a generous philanthropist. He has donated millions to local schools and charities. He has even founded a foundation that provides scholarships for kids from low-income families.
In the late 1950s, Smith partnered with Turner to build Charlotte Motor Speedway, which opened in 1960. Previously, he had run the National Stock Car Racing Association (NSCRA), a rival series to NASCAR. During his time with the NSCRA, Smith was drafted and served in the United States Army as a paratrooper during the Korean War.
After returning from the military, Smith focused on his racing business. He began by purchasing the Sears Point raceway in California and then expanded to Texas and Bristol. In 1994, he formed Speedway Motorsports, which owns and operates all of its racing venues. In addition to his work in the racing industry, he has been involved with several other businesses, including a real estate company and an auto dealership chain called Sonic Automotive.
Smith’s son, Marcus, is the current CEO of SMI and also serves as executive chairman of Sonic Automotive, a company that owns and operates 106 car dealerships in 13 states. He has made hundreds of trades at Sonic, but his largest purchase order was in 2009 when he exercised 152,401 units of SMI stock worth over $2,554,241.
Smith’s other interests include the Carolina Panthers, the Kannapolis Intimidators minor league baseball team and the Speedway Children’s Charities, a nonprofit organization that benefits local kids through scholarships and other charitable activities. He has given more than $5 million to the charity. The non-profit has chapters at each of the SMI racetracks. Smith is a member of the International Motorsports Hall of Fame and has been ranked #278 on Forbes’ list of the richest people in 2005 and 2012. Smith has been divorced and has four children. He lives in the Charlotte area of North Carolina.