Gene Haas Net Worth: Career & Lifestyle

American entrepreneur and businessman Gene Haas’s net worth is s staggering $250 million.

He is well-known for founding Haas Automation, Formula One team Haas Formula, and NASCAR team Haas CNC Racing.

Haas is the president, founder, and sole stockholder of Haas Automation.

Gene Haas (Source: beIN SPORTS)

He is also a developer and has built and developed an indexer that has a stepper motor drive.

Haas demonstrated his invention at WESTEC, an industry expo, in March 1983.

His founding company, NASCAR team Haas CNC Racing has been renamed Stewart-Haas Racing.

Gene Haas | Quick Facts

Let us have a look at Gene Haas’s life.

Gene Haas | Net Worth and Income

Talking about his fortune, Haas has garnered an astonishing amount of money over the years.

Founder of Haas Automation, Gene Haas’s net worth is $250 million as of August 2023.

There is no doubt that his founded company, Haas Automation, is currently the largest maker of machine tools in the country.

His manufactured machine tools quickly grabbed attention and throughout time it grew in popularity. It is because these machines are simple, low-cost, and user-friendly.

Moreover, Haas Automation’s worldwide sales set a new high and was slightly around $1 billion in 2008.

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Gene Haas Net Worth in Different Currencies

Let us see what Gene Haas’s net worth is in different currencies.

Gene Haas | Houses & Cars

Houses

As of August 2023 Gene Haas’s net worth is a massive $250 million.

Gene Haas thinks well of keeping them off the limelight when it comes to his real estate portfolio.

It’s been reported that he has a number of properties across the United States. However, the whereabouts of the properties are kept secret.

It’s pretty obvious that he owns several pieces of real estate given the fact that he has a gigantic net worth.

Cars

Of course, Gene Haas has an interest in cars as he has established one of the most successful automobile racing industries in the United States.

Hass’s industry has the Haas VF-19, which is a Formula One car designed by Dallara, an Italian manufacturer. 

Haas VF-19 got a chance to compete in the FIA F1 World Championship 2019 from the Haas F1 team.

In general, an average F1 car costs around $12.2 million, and rear wing alone costs an average of $85,000.

Gene Haas F1 Car (Image Source: Wikimedia Commons)

Gene Haas racing fields four Ford Mustang GT for the NASCAR Cup Series.

Nikita Mazepin (9) is a current race driver for Haas and Pietro Fittipaldi (51) is the test driver for the 2022 Formula One World Championship.

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Gene Haas | Lifestyle and Vacations

Lifestyle

One of the big names in the automotive racing industry Gene Haas’s net worth is a whopping $250 million.

The entrepreneur was born in Youngstown, Ohio on 12 November 1952.

He went to California State University in Northridge to complete his college.

Haas completed his graduation in 1975 with a degree in finance and accounting from California State University, Northridge.

Although he graduated in accounting, Hass wanted to study engineering in the first place.

Talking about his married life, Hass tied the knot with Bernadette Haas. Unfortunately, Bernadette departed on 29 June 2016.

Furthermore, Haas got arrested on 19 June 2006 for filing false tax returns and was found guilty of defrauding the government. This happened when Haas’s case was on the trial of felony conspiracy to commit tax evasion.

Gene Haas got two years in prison and was ordered to pay $75 million in compensation.

Vacation

Although Gene Haas doesn’t share much about his personal life on social media, he does enjoy his vacations behind the closed curtains.

Because the businessman has invested in F1 racing, he has to travel to most parts of the world. Obviously, Haas takes a break every once in a while and enjoys a quick holiday around the globe.

Even though he seems pretty determined to his career, his traveling makes him take breaks from his hectic schedule.

As mentioned earlier, Haas loves to enjoy his personal life away from the limelight.

Gene Haas | Charity

Generous Gene Haas has founded multiple charity organizations over the years.

These organizations include The Gene Haas Foundation and Haas Automation.

Haas Automation has donated machines that outfit CNC Labs of several engineering colleges including De Anza College, California State University, Northridge, Channel Islands, and California Polytechnic State University.

Gene Haas also donated a $1 million grant to Danville Community College in April 2015.

The huge donation helped to support an applied science degree program in Integrated Machine Technology.

The Gene Haas Foundation has given away large donations since 2001.

It has helped for various causes including Los Angeles Mission, MS Society, Boy Scouts of America, NAACP, Children’s Hospital Los Angeles, YMCA Kids Camp, and Hospice Foundation.

The donations don’t end here but increase furthermore. The Gene Haas Foundation provided a $40,000 CVTC  scholarship grant.

Haas was presented with the respectable Roy Pinkerton Award for his generous and kind donating gestures.

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Gene Haas | Racing

Chairman of Haas F1 team, Gene Haas is the only US team to compete in the F1 World Championship.

The team has the most than any of the new teams in this millennium with a total of 29 points in the constructor standings.

The team debuted its season in 2016 and scored 47 points in 2017. It maintained a respectable 8th position finish.

Gene Haas With His F1 Team (Image Source: Auto Sport)

Also, Gene Haas is the co-owner of Stewart-Haas Racing which is the champion of the NASCAR Sprint Cup Series.

The team won its first Monster Energy NASCAR Cup Series championship with driver Tony Stewart back in 2011.

Gene Haas | Career

Talented Gene Haas soon started his career after his graduation. Although he was unsuccessful to locate work at first, he finally paved the way into a more successful path later.

Haas has worked both as a CNC programmer and a machinist. He founded a small machine shop and named it Pro-turn Engineering in 1978.

He has developed not only an indexer but also the Haas 5C. Haas 5C is a fully programmable collet (5C) indexer.

The machine tool helped to bring a revolution in the industry and it was also the first device to automatically re-position its parts with full accuracy in the press of a button.

Haas Automation mass-produced an indexer, founded by the man, Gene Haas himself.

Also, Gene Haas patented a product named HBI-5C in 1986.

He began production on a fully facilitated CNC machining center at a price far lower than the market value.

Additionally, Haas co-founded Stewart-Haas Racing with Tony Stewart in 2008.

Three Facts About Gene Haas

• Gene Haas has built Windshear in Concord, North Carolina. The Windshear has managed to be on the list of the most advanced automotive wind tunnels in the world.
• His motivation to succeed led him to success in multiple businesses. He has developed the VF-1 which is for Haas Automation’s first vertical machining center.
• Gene Haas team is the first American-owned outfit to compete in F1 for more than 30 years.

FAQs

What is Gene Haas’s F1 business model?

He has a very unlikely business model than any other F1 team. The model includes a laundry list of components coming from rival outfit Ferrari and a chassis made by a third party.

What is Gene Haas’s biggest achievement in race history?

Gene Hass’s F1 team became the first to achieve points in its first race for fourteen years.

How many children does Gene Haas have?

Gene Haas always seems tight-lipped when it comes to sharing about his personal life. Hence, his children’s details are yet to be confirmed.

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Categories: Net Worth
Source: ASIA EDU