Jay Penske is an American businessman best known for creating the media company Penske Media Corporation.
Early life and education
Born in New York City, New York, Penske is the youngest son of Kathy, an English school teacher and
Roger Penske, the founder and chairman of the Penske Corporation, Chief Executive Officer, Dick Clark Productions
, and former race car driver. Penske is an alumnus of St. Mary's Preparatory, in Detroit Michigan, after having attended Cranbrook, Tabor Academy, and Lawrenceville.
Penske graduated from the University of Pennsylvania's Wharton School[ "St. Mary's Preparatory honors trio for athletic accomplishments" ; April 15, 2004; The Oakland Press; Retrieved September 6, 2007], with a Bachelor of Science in Management of Information Systems and Finance.[ "Jay Penske hopes to follow in footsteps of famous father"; Bruce Martin; May 21, 2007; yahoo.com; Retrieved October 18, 2007] He is on the board of the Entrepreneurial School at the Wharton School as of 2007,[ "Trustees' Winter Meeting Coverage"; February 27, 2007; University of Pennsylvania; Retrieved November 10, 2007]
Businesses and career
Early Career – Cell Phone for Kids and Rare Books
Penske co-founded Firefly Mobile, Inc., a wireless company that developed the Firefly mobile phone for children, and other youth targeted mobile devices and products.
[ "Jay Penske"; July 30, 2018; Los Angeles Business Journal; Retrieved February 3, 2025]
Penske founded and owned Dragon Books, Ltd., a Los Angeles-based antiquarian, and used bookstore which sold rare and collectible books which opened for business in 1999, and closed fifteen years later in 2014. It was named after Penske's favorite childhood book, “Dragon, Dragon”, written by John Gardner.[ "Dragon Books, Ltd."; July 1, 2014; Dragon Books, Ltd.; Retrieved February 3, 2025]
Career – Email, Media and Publishing
Penske is the chairman and CEO of Penske Media Corporation (PMC),
[ "Son Adopts Father's Passion"; May 15, 2007; The Columbus Dispatch; Retrieved November 10, 2007] a
digital media and publishing company that owns and operates a number of media brands, data services, and live events, including
Rolling Stone,
Variety,
Billboard,
The Hollywood Reporter,
Deadline, and South by Southwest festival (SXSW).
Prior to being named Penske Media Corporation, it began as an affinity marketing and internet services company called Velocity Services, Inc.
The company acquired the Mail.com domain which was renamed to the Mail.com Media Corporation (MMC).
Penske joined the board of Vox Media in 2023, after PMC became the largest shareholder of the company.
Penske in 2023 was declared by the Los Angeles Magazine on its cover to be “one of the most powerful publishers in the world”, and has been compared to William Randolph Hearst, S.I. Newhouse, and Rupert Murdoch for his acquisition and portfolio of media brands.
Motorsports
Penske founded an
IndyCar Series racing team in 2007, jointly with
Steve Luczo, the Chairman of Seagate Technology.
In October 2013, Penske Autosport signed an agreement with Formula E Holdings to be the fourth franchise team to enter the new FIA Formula E Championship.
The team was runner-up in the 2014-15 season with drivers Jérôme d'Ambrosio (who ranked fourth) and Loïc Duval. Penske Autosport has won the first ever Formula E races in the following countries: Germany, at the
Berlin ePrix (2015); Mexico, at the Mexico City E-Prix (2016); and India, at the
Hyderabad ePrix (2023), and the
Jeddah ePrix in 2025
Personal life
Penske married model
Elaine Irwin in 2012.
They separated in 2023 and divorced in 2024.
External links
