Truth & Rumors > Auto Racing
Bruton Smith no longer a billionaire
The Wall Street meltdown appears to have claimed another casualty: Bruton Smith's billionaire status. Like almost everyone, the speedway and auto sales titan has seen his stock holdings battered in the financial crisis. But as majority owner of two public companies -- one in the Fortune 500 -- Smith's hit has been bigger than most: Nearly $1 billion. That staggering amount makes Smith one of many corporate giants whose portfolios have been punished by the market plunge. With Wednesday's close of 8,282.66, the Dow Jones industrial average has tumbled 36 percent in the past year, including 29 percent in the last three months. As founder, chairman and chief executive of Sonic Automotive, Smith, 81, owns more than 12 million shares in the Charlotte-based company, one of the nation's largest auto retailers. In the past year, the value of those shares has plummeted 87 percent, costing him more than $268 million. Smith also is chairman and chief executive of Speedway Motorsports, which owns Lowe's Motor Speedway and six other major tracks. His roughly 29 million shares in the Concord-based company have declined in value by more than 64 percent, erasing more than $711 million. Put those losses together, and holdings worth more than $1.4 billion last November now check in at about $434 million.
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Tatiana Golovin
Tori Praver



Comments (34) Add A Comment
How the hell did he expect to buy NASCAR........Oh wait I forgot who I was talking about.
Brian france being the idiot that he is would of been putty in Bruton Smith's hand and would of been talked out of the business for the price of a Martinsville hot dog.
Asbel
Total Comments (655)
wait for it, wait for it, wait for it....nope, I thought I would feel bad about this at some point, but I guess not. Millions of americans are without work, insurance and many without homes and on a sports webpage I read how poor Mr. Smith is no longer a billionaire...who gives a S#it. I'm sure he can survive on his other 900+ million somehow.
Tribe13
Total Comments (2318)
As if I feel bad for Mr. Smith losing one of his Billions of dollars... Let's talk about most of the middle class who are having trouble keeping their jobs and paying their morgages.. They (or We ) are more of a story than a multi-billionaire losing some of his billions!!!! Don't feel bad for him at all !!!!!!!!!!!!!!!
Ohio
Nw, OH
Total Comments (1900)
And I was complaing that my 401k was down $5,000
IamRightYouAreWrong
Florence , SC
Total Comments (765)
i wish i had that much to lose, in this day and age, who the hell cares... this is a non story and no one cares that he has lost that much, that is like 20.00 to you and me..
NYY25to13
Falcon, CO
Total Comments (776)
HAHAHAHA!!! Suck It Don Rickles!!!!!
Explosion!
Total Comments (2442)
Bruton Smith no longer a billionaire
GOOD, you sorry s.o.b.
speed061
Marion , AR
Total Comments (408)
Hopefully it gets to the point where he has to sell his tracks and it removes the stranglehold he has had on NASCAR. Conflict of interest says France should be required to sell any interest in tracks also....but we know he will circumvent that and put a clause in place, dirty crooked ****.
Explosion!
Total Comments (2442)
When the economy rebounds, as it will and always does, he will be right back to being king of the hill. He will have the last laugh, unfortunately.
Seymore Whowho
Total Comments (294)
Yippppppppppy the damn little RUNT
SLY 1
Pompano, FL
Total Comments (2683)
non-story - it's a paper loss unless he actually sells it...he just doesn't have the liquidity he had before...boo hoo. He's still hold more than I'll make in 100 lifetimes.
Davey28Fan
Pataskala , OH
Total Comments (217)
I guess the onlt thing we can POSSIBLY hope for is his outgoing funds eclipse his incoming forcing his hand. I have never hoped the DOW would drop...but in this case let the downward spiral continue until the little troll is pennyless.
Explosion!
Total Comments (2442)
You're right Davey, most of us can't even dream about having that much money and SI wants us to feel sorry for him.. It is not happening !!!!
Ohio
Nw, OH
Total Comments (1900)
I agree with you TCK... and maybe it will take the DEI **** with it
speed061
Marion , AR
Total Comments (408)
Speed, Teresa still has sole rights to the "Eardhardt" and "Intimidator" franchise so she will never be in the same boat as Bruton Smith as long as Cleetus and Joe Bob save their tax return money and makes it to the race to drops their cash on their new Dale Sr. wardrobe for the year. To include the Calendar, shot glass set, toilet paper dispenser, 3 pack of "chip clips" and the 2009 "limited editon" 4 pack Coozie set for $47.99.
Explosion!
Total Comments (2442)
Cereal-Yep you are right. Teresa will still make more in a year off selling Dale's stuff than a normal person like most of us could spend in our lifetime.. So whether she loses TEI or not she will always be a rich ----ch!!!!!!!!
Ohio
Nw, OH
Total Comments (1900)
That is correct Ohio....and I hate her rotten carcass for using the man before and after death.
Explosion!
Total Comments (2442)
Well if people would not buy it then she would FOLD. Race fans have got to she what she has done and hate her equaly as much and understand that in order to get their point across, stop buying this stuff....HE's DEAD and she kepts remaking garbage.
speed061
Marion , AR
Total Comments (408)
Speed- I have been a Dale fan since the first NASCAR race I went to in Mich. My boyfriend then(now my husband) told me to pick a car out and I picked a Wrangler blue and yellow car !!! I have been a fan of his since that day!!!AND I have not bought one thing after his death to support Teresa.. I didn't like her before he died and I certainly don't like her since the only Earnhardt off spring she cares anything about is the one she had with Dale.. She has totally screwed Dale's children from different mothers and hopefully she gets what she deserves and I can't wait for that day!!.
Ohio
Nw, OH
Total Comments (1900)
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