What was Don Schumacher's net worth?
Don Schumacher was an American racing team owner who had a net worth of $300 million at the time of his death. Don Schumacher died on December 20, 2023 at the age of 79.
Schumacher Electric
Don Schumacher was born in Michigan in 1944 but was raised in Chicago where in 1947 his father launched a business called Schumacher Electric. Today Schumacher Electric is based out of Dallas/Fort Worth, Texas and is "global leader in the design, manufacture and distribution of power conversion products"
In the early 1960s, when Don was in his early 20s, he began drag racing and soon made a name for himself with his great pit crew and an excellent team. During this period he helped found the Funny Car class of racing. After eleven years in the drag racing world, decided to leave it behind to take over Schumacher Electric back in Chicago.
Under his leadership Don grew the company from 400 employees to nearly over 2,000. Today is one of the largest manufacturers of battery chargers in the world.
In April 2022, a private equity firm called Ripple Industries acquired Schumacher Electric for an undisclosed sum.
(Photo by Jeff Speer/Icon SMI/Corbis/Icon Sportswire via Getty Images)
Don Schumacher Racing
In the mid-90s, Don returned to the racing circuit, but this time as an owner. His son, Tony Schumacher, was proving to be an excellent racer, and a team was formed around him. Don Schumacher oversaw Don Schumacher Racing for several decades. During this time Don also was instrumental in implementing a number of key safety measures for drivers, notably roof-mounted escape hatches and a fire suppression system that is activated by a brake handle.
The team became a formidable presence on the racetrack. In 2012, his two teams captured 22 NHRA national event titles. On May 2nd, 2013, he was inducted into the International Motorsports Hall of Fame. According to his Hall of Fame induction, as a racer Don won more than 70% of his 560 races. As an owner he won 19 NHRA world championships and 362 Wally trophies (he also won five Wally trophies as a driver).
DSR Performance
Don was also the founder of a retail company called DSR Performance. DSR Performance is an auto parts brand operating as the retail arm of Don Schumacher Racing (DSR). The brand leverages the championship-winning technology and innovation of Don Schumacher Racing in designing and engineering its aftermarket products. These products are sold through the DSR Performance website and their exclusive dealer network, ensuring a wide and accessible distribution.
The brand specializes in providing a range of products for various types of racing and vehicle enthusiasts. This includes components for Nitro and Sportsman racers, as well as GEN III HEMI competitors. Moreover, DSR Performance offers an assortment of officially licensed 2015 and 2021 Dodge Challenger Mopar Drag Pak parts, catering to the needs of professional and amateur racers alike.
Florida Mansion
In March 2000 Don paid $13,000 for a .30-acre plot of oceanfront land in Stuart, Florida. He proceeded to construct a nearly 9,000 square foot mansion with sweeping views of the water. Today the home is likely worth $8-10 million based on similar comps.
