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You Won't Believe How Much Money Race Car Drivers Actually Make | Kenny Wallace Classics · Kenny Wallace Media

• 0:00
  Well, we know in life that you always want to know what
• 0:03
  everybody makes. And I always say stay your lane,
• 0:07
  do your own deal. Don't pay attention to everybody
• 0:10
  else. But workers that work next to
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  each other, we always say when you're working, right, don't you
• 0:17
  always wonder what your fellow worker is making?
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  Is he making more money than me? Because if he is, that's not
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  right. And that, my friends, is where
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  unions started. Unions, right?
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  I got money for the end of my life, I got insurance and I got
• 0:34
  it going on. So that is where we're going
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  today. Today we're going to tell you
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  what everybody makes in racing. Now here's the disclaimer.
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  I control my own life. I write my own checks, I have
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  investors, I have Cpas and accountants.
• 0:54
  So the Herminator, although I seem a little silly at times, I
• 1:00
  control my own money. I control my own destiny.
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  And yes, sometimes we put ourselves in position, right?
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  You got to go out and do, you can't sit at home on the couch.
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  You got to go out and do put yourself in position to live the
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  very best life you can remember when we were kids.
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  I haven't heard of marbles in ages.
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  Marbles. You have 100 marbles and there's
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  that one kid that wants all the marbles.
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  It's like, Jesus, can I, can I have one or two marbles?
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  That's life. Everybody has, there's 100
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  marbles and everybody wants the most marbles.
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  So we can do what is so addicting in life, run these old
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  race cars. Today we are going to debull
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  money in racing. I'm going to do that for you
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  because a lot of you, although I love you, you don't have a clue.
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  All right #1 come here, Charlie. It's called show and tell, All
• 2:05
  right? You see all these sponsors,
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  every one of these sponsors, we're going to go all the way
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  down here. All these people, all these
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  decals, every single one of these decals, I mean, all of
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  them, everyone OK, Without those people, I am not racing, OK,
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  That's number one. If you're going to race, you
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  have to find a sponsor. All right, You might have a call
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  now. So when we race, there's only
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  one division. I'm be bullshitting this right
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  now. There's only one division where
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  you can make a living. It's the NASCAR Cup Series, the
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  NASCAR logo cop, Xfinity truck. That's it, OK.
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  That's the only area that you're going to make a living, and
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  that's called making it to the big time.
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  If you make it to Major League Baseball, you make it to the
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  NFL, that means you made a OK, but you are not going to make a
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  living running the World of Outlaw Sprint Cars, World of
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  Outlaw Late Models, Lucas Oil Late Models.
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  OK, you have to have sponsors or a wealthy car owner.
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  VN. Now it's time to tell you all
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  some numbers. Once again, the Herminator got
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  notes. Got notes.
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  So now we know we're going to start with dirt cars right away.
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  There are race tracks that can make you or break you.
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  So we're going to put the big ones.
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  We're going to take the Granddaddy's and we're going to
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  put them over here. We're not going to pay attention
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  to Eldora, We're not going to pay attention to Knoxville.
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  We're going to pay attention to the grinding in the middle of
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  race season. So we're going to go with the
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  World of Outlaw Late Models. Now we know for a fact if you
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  win a World of Outlaw Late Model race, $10,000, all right,
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  $10,000 to win a normal World of Outlaw Late Model race, dirt,
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  Super Late Model race. We know that.
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  And we know that most drivers get, let's say, 30 percent 35.
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  Let's go with 35 * 35% equal $3500.
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  Your driver, Oh my God, he's the greatest driver of all time.
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  Bobby Pierce won $10,000. Oh, that's what he got.
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  OK, Now I know that's a family run company, but if you're Nick
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  Hoffman, if you're Jonathan Davenport, we're going to shoot
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  at 35%, OK, Because we know that's middle of the road.
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  We know that if you don't do anything and you just show up
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  and drive the car, you going to make 2530% because you don't do
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  nothing. All you do is drive the car.
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  You're going to make 25 to 30%, OK If you don't do nothing.
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  However, if you drive the truck and trailer and you do
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  everything and the Carter goes, man, you're saving me a lot of
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  money. You do everything.
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  I'm going to give you 4050%. So once again, 10,000 to win
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  $3500 right now. OK, let's say, let's say, well,
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  I can't, I can't make it on that.
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  You know, it's hard. I'm winning everything.
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  A lot of people say, well, don't you get a base salary?
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  The World Outlaw Late Models, nobody gets a base salary.
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  They race off a percentages only, but we don't win all the
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  time. We're going to go to 5th spot,
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  right? So we know that if you run fifth
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  in a World Outlaw Late Model race, you're going to get about,
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  you know, you're going to be lucky if you make $750, right?
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  So we're going to go, we're going to go, we're going to get
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  rain out. So we're going to go 4848
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  nights, 48 nights, World of Outlaw, late moderation times,
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  $750. Because you run 5th.
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  That's what you made for the whole year.
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  That's a shocking blow. So if you run 48 races in the
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  big time and you run fifth, you're going to get about $750.
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  Pays 10 grand a win, drops so quick it's unreal. 10 grand to
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  win way down. So if you run fifth, OK, we're
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  going to give you $750 times, You're going to 36,000 a year.
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  Now I've done my due diligence. One of my dear friends that
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  knows it all, says Herman. If you make $160,000 a year as a
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  driver, you've robbed the Kitty. So that's a look inside the
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  World of Outlaw Light models. This is why we got to have
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  sponsors. You cannot race without sugar
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  daddies. Sugar daddies are people that
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  have businesses like Hoker Trucking, All Geyer down there
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  in El Campo, TX. We need people that know how to
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  make a living so we can do what we want to do.
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  This is a disease. This is not real Life.
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  OK, On the Joey Logano Kenny conversation, Joey Logano said
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  this is fake. And he's right.
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  This is not how you really make a living.
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  Let's take Nick Hoffman. Nick Hoffman makes a real
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  living. He builds race cars.
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  That's called a real living. When we race this, I mean,
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  there's some guys that are going to make it, but for the most
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  part, you're not, you're not going to see Jack Hewitt
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  retiring in the Bahamas, OK? You're, you're not going to see
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  these guys. Oh, I got my 4O1K that they know
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  that this is a Vagabond type racing.
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  Dirt racing is a Vagabond type racing.
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  You need sponsors, you need wealthy people.
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  OK, now let me break down a little something else for you
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  about the World of Outlaws. If you sign up for the Platinum
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  and you go, hey, I'm going to run all the World of Outlaw
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  races, which is fantastic. You get a check for $2500 every
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  every month. Here's the big thing.
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  Here's the big thing. You need to remember over 90% of
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  the races, if you are the driver and you finish fifth, you're
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  going to make about 2500 and then you get 40% of that.
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  That's where we come up with that $750, OK, but the driver
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  will get about $750. So if you run the World of
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  Outlaw light models, there's no base salaries.
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  However, if you sign up for the Platinum, the World of Outlaw,
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  they give you they give you 4 free pit passes and a $2500 a
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  month. So that that's a big deal that
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  goes a long way. All right, that's the world
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  about low light models. Let's go to now.
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  What are what are your questions?
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  What are your bullshit questions?
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  Oh, what is there no stop Her mayor's getting upset because
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  you're going to tell me something that I already know
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  because I pay for all this, OK. And I know everybody.
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  You know, there's an old saying. Be careful what you see on TV.
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  It's not as pretty as it it looks, right?
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  I won't be a crew member. We'll go be a crew member.
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  You you'll be you'll be selling your tools right away and moving
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  back to your home. I see it all the time.
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  This stuff is fun, Fun from afar.
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  OK, not everybody. Not everybody's a herminator.
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  I work my ass off in here, make these these videos.
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  And it's it's a lot of fun. But I like to educate people,
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  OK, now we've done the world about all 8 models.
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  I have deep bullshit that for you, you're going to maybe make
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  $36,000 a year. If you have the year of your
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  life, you're going to make about 160,000.
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  Boy, that's that's that's it for that's a really good year.
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  OK, Of course you got bills. All of you tell me that, Oh my
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  God, me and my me and my husband, me and my wife, we got
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  to make 150,000 a year. We live in this little
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  subdivision home, and if we don't make 150,000 a year, we
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  can't survive. Well, think about a race car
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  guy. He's got to have disability
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  insurance. He's on the road spending gas.
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  So there's no money to be made in racing.
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  It's a Vagabond life. And there I said it.
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  OK, because I know I don't mean to be such smart ass I just get
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  mad when people think they know they going to tell me they don't
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  know all right World of outlaw Sprint cars.
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  All right, mind you, these motors in the world of all, all
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  8 models are 60 to 70 grand a pop.
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  All right, these drivers drive for 50% and they need they they
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  deserve more than that because they cheat death.
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  World of Outlaw Sprint car guys, they get they get 5 free pit
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  passes and they get $500 per night for the platinum.
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  So the World of Outlaws Sprint car guys with the wings, when
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  they show up, they get $500. Thank you for coming.
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  You signed up kind of like this is union.
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  You're coming to every race, you're part of the union.
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  You show up at every race, you get $500, you get 5 free pit
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  passes. Have you, have you ever bought
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  one pit pass? They're $50.00.
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  So you know, that sucked. That's a big deal.
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  That's $250 a night. And then, so it's about 7:50,
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  right? So you get the $500 and you get
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  $250 worth of pit passes. So the World Outlaws Sprint cars
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  give you 750. That'll help you get up and down
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  the road. Now, mind you, we just blew a
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  motor up because the tracks hooked up, we got the wing in
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  full tilt and we're pulling the guts out of this motor and we
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  just spent 70 grand on this motor to try to win Knoxville.
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  Thank God we have wealthy car owners.
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  So the World of outlaw late models Sprint cars, they're kind
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  of the same, but you you just have to look at the Vagabond
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  lifestyle, right, How they go about it.
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  OK, now there's a theory that I want to do that, OK.
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  And if I had this money, well, listen, none of us got any
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  money. Once again, it's my sponsors.
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  Without these sponsors, I don't race because I'll be honest with
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  you, I have grandbabies, I have daughters.
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  I mean, you know, these sponsors.
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  I mean, add them all up, right? By God, we're D bull things
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  here, right? Without these people, without
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  these people, we don't race. Now I know there's going to be
• 13:13
  some locals going. Well, I'll spend all my own
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  money. Well, you're a dumb ass.
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  I mean, I did that when I was a kid.
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  I spent my own money when I was a kid, and I went down to
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  people's subdivisions and stole their soda bottles, take them on
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  my bicycle, Rd. up. But I'm 60 now.
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  I don't spend my family money anymore.
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  I'm mad because I went through all that.
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  I'm I, I, I went and got when they used to balance tires with
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  little lead weights. I wanted the child's tire up in
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  North Allen. I, I grabbed the tire weights.
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  I'm melting them down. That was my lead.
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  You don't know what broke is. You think you do you think you
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  know? OK, now we're going to go.
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  Now we're going to go to NASCAR. And in the end, stay tuned.
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  I'm going to tell you where I made my money.
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  Oh boy. OK, so right here, if you're
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  running in the Xfinity Series, you're going to make anywhere
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  between 250,000 to 400,000 a year.
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  Not very much, because remember, you're an independent
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  contractor. Out of that 250 to 400,000 that
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  you make, you got to you got to show that team that you have
• 14:30
  your own disability workman's comp because you're going to get
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  paid all your money. It's going to be up to you to
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  take out your own taxes and buy your own insurance.
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  These race teams, these Xfinity teams, they do nothing for you.
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  All you get to do is drive the car.
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  They're going to give you a gross check and you end up
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  making it net and paying, you know, all your Social Security.
• 14:53
  You do all that yourself. You have your CPA, your account,
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  do all that. So Kenny Wallace Racing
• 14:58
  Incorporated. I get a check and yeah, I got to
• 15:01
  do it. All right.
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  So I got to have ACPA accountant, got to have my
• 15:04
  disability, my workman's comp, pay my taxes.
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  So anyway, 250,000 to 400,000, you're living a dream.
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  You're hoping to make it to the Cup Series.
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  All right, here we go. We're we're going to skip the
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  trucks because I don't know too much about them.
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  We're going to go right to the Cup Series.
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  In the Cup series. Now, this is where you make a
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  living. You're going to make anywhere
• 15:29
  between 750,000 up to 8 million, OK?
• 15:34
  Now I do know three drivers that make 7 or $8 million.
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  So Chase Elliott makes about 7 million.
• 15:43
  We know that Denny Hamlin and Kyle Bush make about 8 million.
• 15:47
  So let's let's go with Chase Elliott.
• 15:50
  Chase Elliott makes 7 million a year, OK?
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  That's what he's going to make. That is a base salary.
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  They're going to pay you every quarter, every every month.
• 15:58
  Excuse me, you're going to get a check 7 million and what is he
• 16:02
  going to get about 800 thousand a month.
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  You do the math. So hopefully I broke down and D
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  bull a lot. The World of outlaw light miles
• 16:11
  was something that I really wanted to get into because
• 16:14
  although we love it, I love it, but some people just don't get
• 16:18
  it. OK, It is a Vagabond lifestyle.
• 16:21
  Those guys are in those toter homes.
• 16:23
  Yes, they're a million, $2,000,000 but those guys smell
• 16:26
  like ass. They're guys all piled in that
• 16:29
  damn thing. It's it's, I've seen them like
• 16:32
  Get Me Out of here, you know, after two days it's like, you
• 16:36
  know, they use this. Oh, it's, it's nasty.
• 16:39
  So OK, you think it's all we'll go do it and you won't do it
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  because nobody hardly does do it.
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  They get on the road for about 3 days in the middle of the summer
• 16:48
  and like, oh man, this was a blast.
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  But I'm going back home. So I think I've told you
• 16:54
  everything except where did I make all my money?
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  It's if I, if I'm going to tell everybody the taboo subject, I
• 17:02
  guess I've got to tell you where I made my money.
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  So I'm going to be very honest with you.
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  So when I raced in the NASCAR Cup Series, I made very good
• 17:10
  money. I give motivational speeches.
• 17:15
  I do a lot of things right. I'm a mover and shaker.
• 17:19
  I made good money and I got into real estate.
• 17:24
  I took that NASCAR money and I bought a lot of real estate.
• 17:27
  And I'm not going to tell you exactly what kind of real
• 17:29
  estate, but I bought real estate.
• 17:31
  And then I decided that Kim and my myself wanted to move back to
• 17:36
  Saint Louis and all my real estate was in North Carolina.
• 17:39
  Now I've told this to Michael Rigsby, you know, OK, I think
• 17:43
  that's dirt on dirt. Whatever is podcast is there.
• 17:47
  This story has been told. It's not a taboo story.
• 17:50
  When we decided to move back here, I took all that money that
• 17:54
  I had in real estate and I sold it.
• 17:57
  And I sold it to a very famous race car driver.
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  OK. And I'd already saved some
• 18:02
  money, but I took that money and I found a really good investor
• 18:07
  on the north Side of Chicago. One day, if you corner me, I'll
• 18:10
  tell you who he is. But this guy's very good.
• 18:14
  He's he's the real deal. And I cashed out.
• 18:21
  I sold all my all my real estate, right?
• 18:24
  And I invested in the stock market.
• 18:27
  And guess what happened? Remember when Bill Elliott said
• 18:30
  it's all about time and circumstances?
• 18:33
  Donald Trump became your president, and the stock market
• 18:37
  went from 19 to where it's at today.
• 18:40
  I got very lucky timing and circumstances, all right?
• 18:44
  That's where I made my money, not in racing.