Jay Penske

Last updated

Jay Penske
Born (1979-05-05) May 5, 1979 (age 44)
New York City, New York, United States
Alma mater Wharton School of the University of Pennsylvania (B.S.)
Occupation(s)Businessman, investor
Spouse
​
(m. 2012)​
Children1
Parent(s)Kathy Penske (mother)
Roger Penske (father)

Jay Penske is an American businessman who is the Chairman and CEO of Penske Media Corporation, a digital media and publishing company he founded in 2004.

Contents

Early life and education

Born on May 5, 1979, in New York City, New York, Penske is the youngest son of Kathy, an English teacher and Roger Penske, a businessman who was the founder of the transportation services company Penske Corporation and a former race car driver. Penske is an alumnus of St. Mary's Preparatory, in the Detroit suburb of Orchard Lake Village in Michigan, after having attended Cranbrook and Lawrenceville. [1]

At St. Mary's, he was named was named All-League, All-State, All-American, [2] and Player of the Year by USA Today in lacrosse. Penske also played hockey and earned All-Region and All-State honors. [3]

Penske graduated from the University of Pennsylvania's Wharton School [3] with a Bachelor of Science in Management of Information Systems and Finance. [4] He is on the board of the Entrepreneurial School at the Wharton School as of 2007, [4] and is also a member of the University of Pennsylvania Library's Board of Directors. [5]

Career

Media and publishing

Penske co-founded Firefly Mobile, Inc., a wireless company that developed the Firefly mobile phone for children, and other youth targeted mobile products. [4] The Firefly phone won the 2006 CES Innovation Award, presented by the Consumer Electronics Association (CEA) and the 2006 International Consumer Electronics Show (CES). [6] Penske also owns Dragon Books, Ltd., a Los Angeles-based used bookstore which sells rare and collectible books which opened for business in 1999. [7] Penske is the Chairman and CEO of Penske Media Corporation (PMC), [8] a digital media and publishing company that owns and operates a number of media brands, data services, and live events, including Rolling Stone , Variety , Billboard , and South by Southwest festival (SXSW). [9] Prior to being named Penske Media Corporation, it began as an affinity marketing and internet services company called Velocity Services, Inc. [10] The company acquired the Mail.com domain which was renamed to the Mail.com Media Corporation (MMC). [11]

Penske joined the board of Vox Media in 2023 after PMC became the largest shareholder of the company. [12]

Motorsports

Penske founded an IndyCar Series racing team in 2007, jointly with Steve Luczo, the Chairman of Seagate Technology. [4] In October 2013, Penske Autosport signed an agreement with Formula E Holdings to be the fourth franchise team to enter the new FIA Formula E Championship. [13] The team was runner-up in the 2014-15 season with drivers Jérôme d'Ambrosio (who ranked fourth) and Loïc Duval. Penske Autosport has won the first ever Electric Formula powered Grand Prix’s in the following countries: Germany, at the Berlin Grand Prix (2015); Mexico, at the Mexico City Grand Prix (2016); and India, at the Hyderabad Grand Prix (2023). [14] [15] [16]

Recognition and awards

Under Penske's leadership, PMC was awarded as one of North America's top 100 private companies by Herring Research. [17] He was additionally recognized repeatedly as both a 30 Under 30 and Under 40 Success Story from his alma mater. [18] Penske was also added to Vanity Fair's New Establishment list, [19] and in 2010 the magazine named Penske one of the 10 best dressed men in the world in their "International Best-Dressed List" of that year. [20] Additionally he has been named a Vice Chair of the American Film Institute (AFI) in 2014 and in 2015 was named by the NY Observer newspaper as one of the 25 most powerful people in Los Angeles. [21]

Penske has been compared to William Randolph Hearst, Si Newhouse, and Rupert Murdoch for his acquisition of media brands. [22] [23] [24]

Personal life

Penske became engaged to Elaine Irwin, the model and former wife of musician John Mellencamp, in October 2012. [25] Their daughter was born in 2013. [26]

Related Research Articles

<span class="mw-page-title-main">Hélio Castroneves</span> Brazilian racing driver

Hélio Castroneves is a Brazilian auto racing driver. He competes part-time in the IndyCar Series, driving the No. 06 Dallara-Honda for Meyer Shank Racing. He is one of four drivers to have won the Indianapolis 500 four times: in 2001, 2002, 2009, and 2021, and was runner-up in the IndyCar Series drivers' championship in 2002, 2008, 2013, and 2014. Castroneves also competes in the IMSA SportsCar Championship. He is a three-time winner of the 24 Hours of Daytona, consecutively in 2021 with Wayne Taylor Racing and 2022 and 2023 with Meyer Shank, in addition to the overall 2020 IMSA championship with Team Penske.

<span class="mw-page-title-main">Roger Penske</span> American racing driver and businessman (born 1937)

Roger Searle Penske is a retired American professional auto racing driver. Penske is most known for his ownership of Team Penske, the Indianapolis Motor Speedway, IndyCar, and other auto racing-related businesses. Penske is the founder and chairman of the Penske Corporation, a holding company for his various businesses. Penske is also a Presidential Medal of Freedom recipient.

<span class="mw-page-title-main">Lucas di Grassi</span> Brazilian racing driver (born 1984)

Lucas Tucci di Grassi is a Brazilian professional racing driver who is set to compete in the FIA Formula E World Championship for ABT CUPRA. He became the FIA Formula E World Champion in 2016–2017, achieved three overall podiums at the 24 Hours of Le Mans, Vice-Champion at the World Endurance Championship (2016), Vice-Champion in Formula 2 and won the Macau Grand Prix in 2005. He raced in Formula 1 in 2010 for Virgin Racing after 2 years as reserve driver.

<span class="mw-page-title-main">DS Penske</span> American auto racing team

DS Penske is an auto racing team that is involved in many areas of motorsport. DS Penske was founded in 2007 as Dragon Racing by Americans Jay Penske and Stephen J. Luczo. The team competed in the IndyCar Series from 2007 until 2014, and in 2014 Dragon Racing became one of the founding Formula E teams. It currently competes under the name DS Penske, having been known as GEOX Dragon between 2014 and 2019 and Dragon / Penske Autosport between 2020 and 2022.

<span class="mw-page-title-main">Jérôme d'Ambrosio</span> Belgian racing driver (born 1985)

Jérôme d’Ambrosio is a Belgian former professional racing driver, motorsport executive and Driver Development Director at Mercedes-AMG Petronas F1 Team. He was formerly the Team Principal of Venturi Racing in Formula E.

Penske Media Corporation is an American mass media, publishing, and information services company based in Los Angeles and New York City. It publishes more than 20 digital and print brands, including Variety, Rolling Stone, Women's Wear Daily, Deadline Hollywood, Billboard, The Hollywood Reporter, Boy Genius Report, Robb Report, Artforum, ARTNews, and others. PMC's Chairman and CEO since founding is Jay Penske.

<span class="mw-page-title-main">Virgin Racing</span> Former Anglo-Russian Formula One constructor

Virgin Racing was a Formula One racing team which was under management of Manor Motorsport, Wirth Research and Richard Branson's Virgin Group and competed in 2010 with a British licence and in 2011 with a Russian licence. It scored no points and finished last in the Constructor's Championship for the two years the team competed.

<span class="mw-page-title-main">Virgin VR-01</span> Formula One motor racing car

The Virgin VR-01 was a Formula One motor racing car designed by Nick Wirth for Virgin Racing in the 2010 season. It was driven by former Toyota driver Timo Glock and Brazilian ex-GP2 driver Lucas di Grassi. The car was the first Formula One racing car designed entirely with computational fluid dynamics. The car was due to be launched online through the official team website on 3 February 2010, but technical issues prevented the live internet broadcast from taking place.

<span class="mw-page-title-main">2015 Berlin ePrix</span> Motor car race

The 2015 Berlin ePrix, formally known as the 2015 DHL Berlin ePrix, was a Formula E motor race that took place on 23 May 2015 on the purpose-built Tempelhof Airport Street Circuit in Berlin. It was the eighth round of the 2014–15 Formula E season. A special anti-clockwise track was built for the race next to the terminal building of the closed airport, including 17 turns over a distance of 2.469 km (1.534 mi).

<span class="mw-page-title-main">2016 Mexico City ePrix</span> Motor car race

The 2016 Mexico City ePrix was a Formula E motor race held on 12 March 2016 at the Autódromo Hermanos Rodríguez in Mexico City, Mexico. It was the fifth championship race of the 2015–16 Formula E season, the single-seater, electrically powered racing car series' second season. It also was the 16th Formula E race overall. The race was initially won by Lucas di Grassi, but later the win was handed to Jérôme d'Ambrosio because di Grassi's car was found to be underweight. This was d'Ambrosio's second Formula E win, after the 2015 Berlin ePrix, where he had also benefited from a disqualification of di Grassi.

<span class="mw-page-title-main">2016 Paris ePrix</span> Formula E electric car race

The 2016 Paris ePrix was a Formula E electric car race held on 23 April 2016 at the Circuit des Invalides in the Les Invalides building complex. A total of 20,000 people attended the race. It was the seventh round of the 2015–16 Formula E Championship and the first Paris ePrix. The 45-lap race was won by Audi Sport ABT driver Lucas di Grassi starting from second position. Jean-Éric Vergne finished second for Virgin and e.Dams-Renault's Sébastien Buemi took third. It was di Grassi's second consecutive victory after the Long Beach ePrix, his third of the season and the fourth of his career.

<span class="mw-page-title-main">2016 Berlin ePrix</span> Formula E race in 2016

The 2016 Berlin ePrix was a Formula E electric car race held on 21 May 2016 before a crowd of 15,000 people at the Berlin Street Circuit in Berlin, Germany. It was the eighth round of the 2015–16 Formula E Championship and the second Berlin ePrix. The 48-lap race was won by e.dams-Renault driver Sébastien Buemi who began from second position. Audi Sport ABT teammates Daniel Abt and Lucas di Grassi finished in second and third.

<span class="mw-page-title-main">2017–18 Formula E Championship</span> 4th season of ABB FIA Formula E

The 2017–18 FIA Formula E Championship was the fourth season of the Fédération Internationale de l'Automobile (FIA) Formula E motor racing. It featured the 2017–18 ABB FIA Formula E Championship, a motor racing championship for open-wheel electric racing cars, recognised by FIA, the sport's governing body, as the highest class of competition for electrically powered vehicles. Twenty drivers representing ten teams contested twelve ePrix, which started in Hong Kong on 2 December 2017 and ended on 15 July 2018 in New York City as they competed for the Drivers' and Teams' Championships.

<span class="mw-page-title-main">2017 Buenos Aires ePrix</span> Motor car race

The 2017 Buenos Aires ePrix was a Formula E electric motor race held on 18 February 2017 at the Puerto Madero Street Circuit in Puerto Madero, Buenos Aires, Argentina in front of a crowd of 21,000 people. It was the third round of the 2016–17 Formula E Championship and the third running of the event. The 37-lap race was won by e.Dams-Renault driver Sébastien Buemi after starting from third position. Techeetah's Jean-Éric Vergne finished second and Audi Sport ABT driver Lucas di Grassi was third.

<span class="mw-page-title-main">2017 Mexico City ePrix</span> Motor car race

The 2017 Mexico City ePrix was a Formula E electric car race held on 1 April 2017 before a crowd of 36,000 people at the Autódromo Hermanos Rodríguez in Mexico City, Mexico. It was the fourth round of the 2016–17 Formula E Championship and the second Mexico City ePrix. The 45-lap race was won by Audi Sport ABT driver Lucas di Grassi after starting from 15th position. Techeetah's Jean-Éric Vergne finished second and Virgin driver Sam Bird was third.

<span class="mw-page-title-main">2017 Monaco ePrix</span> Motor car race

The 2017 Monaco ePrix was a Formula E electric motor race held on 13 May 2017 at the Circuit de Monaco in Monte Carlo before a crowd of 18,000 people. It was the fifth round of the 2016–17 Formula E Championship and the second Monaco ePrix. e.Dams-Renault driver Sébastien Buemi won the 51-lap race from pole position. Lucas di Grassi finished second for Audi Sport ABT and Mahindra driver Nick Heidfeld was third.

<span class="mw-page-title-main">2018 Berlin ePrix</span> Formula E electric car race held in Berlin in 2018

The 2018 Berlin ePrix was a Formula E electric car race held at the Tempelhof Airport Street Circuit at Tempelhof Airport in the outskirts of Berlin on 19 May 2018. It was the ninth round of the 2017–18 Formula E Championship and the fourth edition of the event as part of the championship. The 45-lap race was won by Audi driver Daniel Abt after starting from the pole position. Defending champion Lucas di Grassi finished second in the other Audi, thus recording the second one-two finish in Formula E history. Jean-Éric Vergne, the championship leader going into Berlin, took third for Techeetah.

The 2018 Zürich ePrix was a Formula E electric car race held before a crowd of about 150,000 spectators at the Zürich Street Circuit in Zürich, Switzerland on 10 June 2018. It was the tenth round of the 2017–18 Formula E Championship, the inaugural running of the event, and the first Swiss circuit race since the 1954 Swiss Grand Prix. The 39-lap race was won by Audi driver Lucas di Grassi after starting from fifth. Sam Bird finished second for Virgin and Dragon driver Jérôme d'Ambrosio was third.

<span class="mw-page-title-main">2018 New York City ePrix</span> Motor car race

The 2018 New York City ePrix were a pair of Formula E electric car races held on 14 and 15 July 2018 at the Brooklyn Street Circuit in Red Hook, Brooklyn. They were the 11th and 12th rounds of the 2017–18 Formula E Championship, and it was the second annual edition of the event. The first race, contested over 43 laps on July 14, was won by Lucas di Grassi of the Audi team after starting 11th. His teammate Daniel Abt finished second, and e.Dams-Renault driver Sébastien Buemi was third. The second race on July 15 also lasted 43 laps, and was won by Techeetah's Jean-Éric Vergne from third. Di Grassi and his teammate were second and third, respectively.

<span class="mw-page-title-main">2019 Santiago ePrix</span> Car race

The 2019 Santiago ePrix was a Formula E electric car race held at the Parque O'Higgins Circuit in the Parque O'Higgins of Santiago, Chile on 27 January 2019. It was the third round of the 2018–19 Formula E season and the second annual edition of the event. Sam Bird won the 36 lap race, with Pascal Wehrlein finishing second, in what was his 2nd race in the championship, while Daniel Abt came home in third place. Following the race, Bird led the championship, edging out Jerome d'Ambrosio by 2 points.

References

  1. ↑ Black, Julia (October 26, 2020). "He has movie-star good looks, a former Victoria's Secret model wife, and a billionaire father. Here's how Jay Penske transformed from playboy to pragmatic media mogul". Business Insider. Retrieved October 27, 2020.
  2. ↑ "1997 Boys' High School All-American Lacrosse Team"; ESPN; Retrieved October 25, 2007
  3. 1 2 "St. Mary's Preparatory honors trio for athletic accomplishments"; April 15, 2004; The Oakland Press; Retrieved September 6, 2007
  4. 1 2 3 4 "Jay Penske hopes to follow in footsteps of famous father"; Bruce Martin; May 21, 2007; yahoo.com; Retrieved October 18, 2007
  5. ↑ "Trustees' Winter Meeting Coverage"; February 27, 2007; University of Pennsylvania; Retrieved November 10, 2007
  6. ↑ Firefly Mobile (November 15, 2005). "Firefly™ Phone Wins 2006 'Best of Innovations' Award From Consumer Electronics Association". MarketWired.
  7. ↑ "Another Penske Wants to Make Name at Indy"; May 25, 2007; Detroit Free Press; Retrieved November 10, 2007
  8. ↑ "Son Adopts Father's Passion" [ permanent dead link ]; May 15, 2007; The Columbus Dispatch; Retrieved November 10, 2007
  9. ↑ Rosman, Katherine (March 26, 2022). "You Don't Know Much About Jay Penske. And He's Fine With That". The New York Times.
  10. ↑ Novellino, Teresa. "Jay Penske founded Penske Media Group to acquire Conde Nast's Fairchild Fashion Media - The Business Journals". www.bizjournals.com. Retrieved August 20, 2014.
  11. ↑ Novellino, Teresa (August 20, 2014). "Jay Penske picks up fashion bible WWD". Business Journals. Retrieved November 14, 2018.
  12. ↑ Sakoui, Anousha (February 6, 2023). "Penske's media roll-up continues with purchase of Vox stake". LA Times.
  13. ↑ Mike Szostech. "Dragon Racing joins FIA Formula E Championship". My Electric Car Forums. Archived from the original on October 4, 2013. Retrieved October 3, 2013.
  14. ↑ "DS Penske's Jean-Eric Vergne wins inaugural Hyderabad E-Prix". ESPN. February 11, 2023.
  15. ↑ "Not So Fast: Lucas Di Grassi's Car Disqualified After Winning Formula E Race In Germany". Autoweek. May 24, 2015.
  16. ↑ "Lucas Di Grassi Stripped Of Formula E Victory In Mexico City, Jerome D'Ambrosio Inherits Win". Autoweek. March 13, 2016.
  17. ↑ "Top 100 List" Archived 2013-09-02 at the Wayback Machine ; Retrieved May 24, 2008
  18. ↑ "Young Entrepreneur; November 6, 2005; Wharton School of Business; Retrieved August 18, 2014
  19. ↑ Matt Pressman (October 8, 2009). "The Next Establishment". Condenast.
  20. ↑ VF Style Section. "The 2010 International Best-Dressed List". Condenast.
  21. ↑ Oliver Jones (July 7, 2015). "LA's Most Powerful 25 People". Observer.
  22. ↑ Appleford, Steve (April 17, 2023). "Citizen Jay: How An Eccentric Racing Heir Became King of Hollywood Media". Los Angeles Magazine.
  23. ↑ "You Dont Know Much About Jay Penske and He's Fine With That". New York Times. March 26, 2022.
  24. ↑ Fedorov, Andrew (January 25, 2023). "Let's Play Penskopoly". The Fine Print.
  25. ↑ "Elaine Irwin, John Mellencamp's Ex, Engaged to Jay Penske, Media Mogul". January 21, 2013.
  26. ↑ "In Elaine's Lane".
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.