Gerald Forsythe Wiki Biography

Gerald “Jerry” Forsythe was born in 1942, in Marshall, Illinois USA, and is an auto racing magnate and businessman, best known for having owned the Champ Car World Series alongside Kevin Kalkohven and Paul Gentilozzi. He also owned the racing team Forsythe Championship Racing which competed in the Champ Car World Series. All of his efforts have helped put his net worth to where it is today.

How rich is Gerald Forsythe? As of mid-2017, sources inform us of a net worth that is at $600 million, mostly earned through success in the auto racing industry, in which he’s owned numerous teams over the course of his career. As he continues on, it is expected that his wealth will also continue to increase.

Gerald Forsythe Net Worth $600 million

Gerald started his career in car racing in 1983, making his first endeavor as a car owner with the team Forsythe Racing, and would recruit rookie Teo Fabi who performed well in the CART PPG Indy Car World Series. He held the team for two years before selling it since he wanted to concentrate on other business endeavors. He returned in 1993 to form Forsythe/Green Racing alongside Barry Green, joining the Toyota Atlantic Championship and backed by Player’s Ltd. They had two drivers, Claude Bourbonnais and Jacques Villenueve who would perform well in the championship.

The following year, the team went to the CART PPG Indy Car World series, and Jacques would become rookie of the year.

In 1995, Forsythe and his team joined the Championship Auto Racing Teams (CART) with notable drivers joining him as well, including Paul Tracy, Patrick Carpentier and Alex Tagliani, and the team had big success in 2003 thanks to Tracy’s seven wins, capturing the last ever CART championship. Forsythe then worked on using CART’s liquidated assets to create Champ Car World Series; his team was renamed Forsythe Championship Racing, while he and his partners also purchased the engine supplier Cosworth, as well as Molson Indy Toronto. He also ventured to track ownership, acquiring facilities in England and Mexico. In 2008, he opted not to compete in the merger of Champ Car/IRL due to lack of sponsorship – many believed, however, that it was due to his feud with Tony George who founded the IRL.

Aside from his racing endeavors, Gerald is the CEO of Indeck Companies which owns Indeck Operations, Indeck Energy Services and Indeck Power Equipment Company, developing and operating various power projects in North America. In 2009, he purchased the 3,000 acre Garland Resort which contains a golf course, and two years later, also purchased the resort and spa of Blue Harbor Resort, including an indoor waterpark that’s open all year.

For his personal life, it is known that Forsythe was married but it ended in divorce. He is also very interested in farming and maintains his own farm, focusing on cattle ranching. In 2014, he had an issue with a fertilizer salesman who accused him of defrauding him out of $3 million.