What Is Chip Foose's Net Worth?
Chip Foose is an American television personality, businessman, entrepreneur, and automotive designer and fabricator who has a net worth of $18.5 million. Chip Foose has earned his net worth as a hot rod shop owner, automotive designer, and fabricator. Foose is best known for being the star and executive producer of the reality TV series "Overhaulin'" (2004–2008; 2012–2020). After college, Chip worked for Sterenberger Design and Boyd Coddington, eventually becoming president of the company Hot Rods by Boyd. During his time at Coddington, Foose designed the Boydster I and II. Chip later launched the automotive and product design company Foose Design with his wife, Lynne. Chip was the subject of the 2003 TLC documentary "Speedbird," and he served as a hot rod consultant on the Fox series "Titus" from 2002 to 2002. Foose was in his mid-thirties when he was inducted into the Hot Rod Hall of Fame in 1997, becoming the youngest person to achieve the honor.
Early Life
Chip Foose was born Douglas Sam Foose on October 13, 1963, in Santa Barbara, California. When he was 7 years old, he started working on cars for Project Design, his father's company. With the encouragement of auto designer Alex Tremulus, Foose enrolled at the Art Center College of Design in the early '80s, but he dropped out because of financial difficulties two years later. He then spent four years working at Clenet Coachworks before returning to the school, and he graduated in 1990.
Career
After graduation, Chip took a full-time job with Sterenberger Design and a part-time job with Boyd Coddington. In 1993, he left Sterenberger Design to work at Ford, but Coddington persuaded Foose to come work for him instead. Chip began working full-time for Coddington, eventually becoming the company's president. During his time with Coddington, Foose designed some of the company's most well-known cars, such as the Boydster. In 1998, Hot Rods by Boyd was facing bankruptcy because Boyd Wheels failed, so Chip left the company and started Foose Design with his wife. They launched the business in Orange, California, and his first project car was a rebuild of the Boydster II for collector Chuck Svatos, which won the America's Most Beautiful Roadster trophy in 2000. Svatos later returned the car to Foose, and Chip subsequently sold it to the Petersen Automotive Museum in Los Angeles, which enabled him to buy the Huntington Beach building that would become Foose Design's headquarters. Chip received more exposure in 2003, thanks to the TLC documentary "Speedbird," which was dedicated to giving viewers "a chance to witness Chip's visionary talents come to life with a re-design of the 2002 Thunderbird." Around this time, he also built a Stallion 1934 Ford Coupe for Ron Whiteside, which won the Ridler Award at 2003 Detroit Autorama.
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In 2004, Foose began hosting the reality series "Overhaulin'" on TLC. The show aired on that network until 2008, then it returned on Discovery and Velocity in 2012. In 2019, the program moved to Motor Trend for its tenth season. Chip also executive produced the series, which aired more than 130 episodes. IMDb describes the show's concept as "People trick unsuspecting car owners into thinking their car was towed and instead fix them up." In 2005, the Specialty Equipment Market Association show displayed a 1969 Camaro convertible designed by Foose, and it was announced that Unique Performance of Dallas Texas would be producing a 300-car run of the Camaro. In late 2007, he cut ties with Unique Performance due to accusations of illegal activities against the company. In 2006, Chip and the makers of the Johnny Lightning brand released a line of die cast replicas of some of his well-known designs. That year it was announced that Foose and Ford had made an agreement for Chip to design cars for the company. In 2007, he began production on 50 Hemisfear cars, which was also referred to as the Foose Coupe. The very first Foose Coupe Supercar was sold for $340,000 at an auction. Chip was hired as a design consultant for the $275 million expansion of the MotorCity Casino in Detroit, which was completed in late 2007. Foose also helped launch Ridemakerz, a customizable toy car company, that year. From 2010 to 2011, he hosted the TV series "American Icon: The Hot Rod," then he appeared on "Legendary Motorcar" (2014), "Chasing Classic Cars" (2016), "Ant Anstead Master Mechanic" (2019), and "Car Kings" (2020).
Personal Life
Chip and his wife, Lynne, have welcomed two children, Katie and Brock. Foose's youngest sister passed away from Hutchinson–Gilford progeria syndrome, which inspired him to become vice chairman of the California Chapter of the Progeria Research Foundation. Chip served as the grand marshal of the inaugural SEMA Show N' Shine car show, which raised money for the children's charities Victory Junction Gang Camp and Childhelp.
Awards and Honors
Chip has been inducted into the Hot Rod Hall of Fame (1997), Darryl Starbird Rod & Custom Car Museum Hall of Fame (2002), Grand National Roadster Show Hall of Fame (2003), San Francisco Rod and Custom Motorcycle Hall of Fame (2005), Diecast Hall of Fame (2009), and Detroit Autorama "Circle of Champions" Hall of Fame (2012). Foose won the Ridler Award in 2002, 2003, 2005, and 2015, and he received the Goodguys Street Rod of the Year Award seven times between 1990 and 2010. He has earned the Most Beautiful Roadster Award eight times, and he won Best Hot Rod at the 2011 Bilsport Performance Show.
Real Estate
Foose reportedly owns a $4.25 million mansion in Huntington Beach, California, that measures 7,400 square feet.
