Gene Francis Haas (born November 12, 1952) is the American founder, president, and sole stockholder of Haas Automation, a CNC machine tool manufacturer. He is also active in motorsports, having founded NASCAR teams Stewart-Haas Racing and Haas Factory Team, as well as the Formula One team, Haas F1 Team.
His ventures in both manufacturing and racing have made him a prominent figure in both industries. Haas’s leadership has played a key role in the success of his teams and business.
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Gene Haas Net Worth
Gene Haas has a net worth of $250 million. His product, the HBI-5C, was patented in 1986. In 2008, sales for Haas Automation were just under $1 billion, making it the largest machine tool manufacturer in the U.S. Haas formed Haas CNC Racing in 2002 and joined Tony Stewart in 2008 to form Stewart-Haas Racing.
In 2014, he expressed interest in having his Haas Racing Developments team compete in Formula One. In 1999, he founded the Gene Haas Foundation. In 2006, he was arrested by the IRS for tax fraud and served 16 months in prison.
Early life
Gene Haas graduated from California State University, Northridge in 1975 with a Bachelor of Science degree in accounting and finance. After struggling to find higher-paying jobs, he worked as a machinist and CNC programmer. In 1978, he founded Pro-turn Engineering.
In 1980, Haas developed a stepper motor-driven indexer, leading to the creation of Haas Automation. By 1997, the company moved to a 420,000-square-foot factory in Oxnard, California. By 2005, it expanded to 1,000,000 square feet, becoming the largest machine tool manufacturer in the U.S.
Career
In 2002, Gene Haas formed Haas CNC Racing. After purchasing the Craftsman Truck race facility from Hendrick Motorsports, the team entered the Winston Cup Series with driver Jack Sprague. The team won its first Busch Series race in 2004 with Jason Leffler.
In 2008, Haas teamed up with driver Tony Stewart, giving Stewart a 50% stake. Stewart won the 2011 Sprint Cup Championship. Stewart-Haas Racing won another title in 2014 with Kevin Harvick. The team currently fields cars for Josh Berry, Chase Briscoe, Noah Gragson, and Ryan Preece.
Personal life
The Gene Haas Foundation was founded in 1999 to provide grants to Ventura County community charities, including the Boys and Girls Clubs, Food Share, and Rescue Mission. The foundation later expanded its mission to support skilled manufacturing education and training, primarily in North America but also globally.
It provides scholarship grants, sponsors FIRST Robotics Competition teams, and supports CNC training programs. In 2022, the foundation donated over $27 million, bringing its total donations since inception to over $175 million.
Does Gene Haas still own Haas F1?
Gene Francis Haas has a significant presence in motorsports, having founded NASCAR teams Stewart-Haas Racing and Haas Factory Team, as well as the Formula One team, Haas F1 Team.
Conclusion
Gene Haas’s journey in business and racing is a remarkable example of how passion, innovation, and strategic thinking can lead to immense success. His story is inspirational for aspiring entrepreneurs and racing enthusiasts alike.
FAQs about Gene Haas
- What innovations is Gene Haas known for in machine tool manufacturing? Haas is known for developing and patenting the HBI-5C indexer, a significant innovation in the machine tool industry.
- How has Gene Haas contributed to motorsports? Through Stewart-Haas Racing and Haas Formula, Haas has significantly contributed to motorsports, bringing competitive teams to NASCAR and Formula One.
- What challenges has Gene Haas faced in his career? Haas faced legal challenges, including a prison sentence for filing false tax returns, but he overcame these to rebuild his reputation in business and racing.
- How does Gene Haas’s background in engineering influence his racing teams? His engineering expertise has greatly influenced the technical aspects and performance strategies of his racing teams.
- What is the focus of the Gene Haas Foundation? The Gene Haas Foundation focuses on supporting local charities, demonstrating Haas’s commitment to giving back to the community.
