Source of Wealth:Digital Media, IndyCar, Business
Birth Place:New York City, New York
Full Name:Jay Penske
Occupation:Chairman and CEO of PMC
Education:University of Pennsylvania
About Jay Penske
Californian-born media and publishing entrepreneur Jay Penske has an estimated net worth of $200 million. Born in New York and currently based in Los Angeles, he is a graduate of the Wharton School of the University of Pennsylvania with a Bachelor of Science in Finance and Management of Information Systems. As of 2007, he serves on the board of the Entrepreneurial School at Wharton. He is also a member of the Board of Director of the University of Pennsylvania Library.
Mr. Penske is the founder, Chairman and CEO of PMC, a digital media and publishing company which owns and operates Deadline.com,MovieLine.com, OnCars.com, HollywoodLife.com, Fan.com, TVline.com, BGR.com and MailTimes. He founded Mail.com in 2004 and served as its Chairman and CEO. The email and portal service was sold by PMC to German media company United Internet for an estimated amount between $65 million and $130 million in September 2010.
Jay Penske also founded other companies which focused on youth mobile products, online mail, and rare books. He was the co-founder and Chairman of Firefly Mobile, Inc. and owns Dragon Books, Ltd. He is also the co-owner of the IndyCar team Luczo Dragon Racing with Steve Luczo, the Chairman of Seagate Technologies.
Penske is an Executive Council member of the Quill Awards, a charitable trust organization. His team also donated more than $250,000 of the race proceeds during the 2007 Indianapolis 500. He was listed in Vanity Fair’s New Establishment in 2009. He was named one of the 10 best dressed men in the world by the magazine in their 2010 International Best-Dressed List.
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