All "old" boat racers rich?

[MarylandMark]

Just wondering....

Re-reading and absorbing some info on some posts by our "Icons". The era of boats being shuttled all over the world, $150K+ in 20 year ago money ($215K +/- in 2009 $$) just to set a speed record (not minimizing "just setting a record", just saying not many willing to drop that kind of coin only to set a record these days), racing for hundreds of miles at a time, new boats cutting edge boats every year, countless crew members and entourages to keep man and machines running and so on.

So, did the racers get rich racing, or did the rich go racing or is that where the saying "to become a millionaire being a boat racer, start as a multi-millionaire" came from?

That and to see some of the long time professional racers around here, life is pretty good and then you see some of the newer guys being burnt out and/or scraping coins to get back on the starting line by the next race.

[Chris]

If you listed some names we could address their bio's individually.

Tom Gentry was a wealthy real estate developer from Hawaii. Al Copeland was a restaurant franchise owner. George Morales, Ben Kramer, Sal Magluta and a whole batch of others had wealth from questionable sources. We've had lots of guys come and go. Alcone was in the direct marketing business in California. Hired Jerry Gilbreath, won everything, got bored and moved on. Kjell Rokke came here from Finland and did somewhat the same. He was a wealthy industrialist, but I've heard the stories told that his boat racing distraction caused a downturn in his business. Dave Callan was another guy. made a bundle in telecom, sold his biz and started dumping big money into it. My guess is that one day he decided the dollars going out didn't mesh with the fun coming back and he moved on.

Boat racing has always had it's share of "tourists". Guys who became fascinated, played for a while and moved on. It has also had it's share of guys who provide services to these folks. Hired guns that take care of the boats, manage the team and often throttle the raceboat. I don't know of any of those guys that ever got rich. Some made an OK living. Some leveraged it into larger businesses. Some did little beyond living a "lifestyle" for a while.

[THEJOKER]

Big bucks was behind all of that and it was not from prize purse.

[T2x]

Actually Kjell Rokke owned one of the largest providers of generic fish in the world (fishcakes, fish sticks, fake crab legs.....etc).

Al Copeland started Popeyes, bought Church's, got a golden parachute....and all his toys...as part of his buyout from the board and was then brought back in for a second bite at the apple after sales tanked in his absence.

Matt Alcone was on Forbes list at one time....major advertizing and promotional holdings. Forest Barber was, I think, in the medical supply business. Augie Busch.....was....Augie Busch Bob Erickson's family were major stakeholders in Valvoline.

Reggie's family has the closest thing to a generations long baronial pedigree that one can attain in Eastern North Carolina.

Going further back Bill Wishnick owned Witco chemical, Bobby Rautboard owned American Photo Copy Equipment Company (APECO). Ogden "Dinny" Phipps was old money and owned champion thoroughbred horses. In tunnel boat racing the Briggs brothers (Geoff and Tim) were descendants of the Briggs and Stratton empire. In Europe you have everything from coupon clipping members of this or that royal family, to major clothing and industrial magnates. Jean Pierre Fruitier owned a major fruit juice company in France....and Didier Pirone was a retired Ferrari Formula One driver..... shall I go on?

and then.......

You have the so called "bad guys". Who were very much like all of the above in their various approaches to racing....And, for obvious reasons, they probably had more b*lls in that they didn't simply risk their lives during a few weekends each year.

T2x

P.S. Don't forget Baron Horatio Schwartz, a (fictional) organized crime con man turned ersatz euro trash member?....... or a (clever) composite of all of the above?

[MarylandMark]

I was sure T2x was going to say, "No, I was the only Rich out there".

[Dude! Sweet!]

I always liked the quote that's been ascribed as often to Briggs Cunningham as it has to Roger Penske (I'm going with Briggs though)...

It's very easy to make a small fortune in racing, you just need to start out with a large fortune.

[cosmic12]

Has there been any news lately about the Baron or the whereabouts of the Schwartz Craft ?

[rainmn]

Can't leave Rocky Aoki off a list like this. (Benihana restaurants)

[phragle]

If he's fictional, who bought the hors d'oeuvres before the fistfight last week??

[BBB725]

Also Brazilian goldminer, Eike Batista

[Shockwave]

Could be worse .
I was talking to a guy in Ft Lauderdale that was having work done on his
165' Yacht . He said " boating turns billionairs into millionairs ".
Poor Bastard .

[HateTank]

The only way I know to make a million racing anything is to start with 2 million.....LOL

[Mange]

Finland has never been a good fisherman kennel..
Kjell Inge Røkke is an Norwegian guy

[Brownie]

I know that there is a lot of money in offshore racing, I put a lot in there.........

[T2x]

Has there been any news lately about the Baron or the whereabouts of the Schwartz Craft ?

Actually he's going after the Vee bottom record......


on land.

[DollaBill]

"wana be a millionaire in the boat business kid? Start with at least 2 or 3 million and you're sure to have a million left when you're done"

[Brownie]

I think the total purses for all the offshore races from 1956 to 1964 was zero, or thereabouts. Never a purse in Miami-Nassau.

[THEJOKER]

It didn't take long to figure out I had picked the wrong sport.........paycheck for placing 3rd in a professional class...$ 800.00.

[JupiterSunsation]

I think the ticket to any racing career is sponsorship for the ride (boat, car, motorcycle, whatever) and sponsorship for the driver (sell Wheaties, underwear, beer, whatever).

Dale Earnhardht Jr, isn't exactly filling the trophy case and if he had to support his car/crew based solely on his on track winnings he might be pushing a go cart around a dirt track in the midwest......

[Slandrew]

In Freeport as a kid my idol Guy lombardo was big with race boats he was wealthy TV sow host every New Tears Eve!Don't know what the prize money in those days I doubt him or my Grandfather got there coin from racing there mahogony speed boatsIn later years I was a Ghost Rider fan