Gene Haas Net Worth 2018

Who is Gene Haas and what is his net worth 2018? Eugene “Gene” Francis Haas is Haas Automation’ founder, president, and sole stockholder. Also, he is a CNC machine tool manufacturer. As far as motor sports are concerned, Gene founded CNC Racing which is a NASCAR team. Additionally, he formed Haas F1 of Formula One.

Early Life

Gene Haas was born on November 12, 1952, in Youngstown, Ohio. After joining California State University Northridge, he started his course in engineering. As a result of Lockheed almost going bankrupt, he changed the course and decided to major in business instead. He graduated from the university in 1975 with a bachelor of science in accounting and finance.

Gene Haas Net Worth

Gene Haas arrest by IRS agents was on the morning of 19th June 2006. The reason to ease the investigation of his charges of witness intimidation, filing wrong returns and conspiracy. He was arrested together with other four people, and they all pleaded guilty. There was a plea agreement which was reached with Haas just before his case went to trial.

He was to plead guilty to the felony of conspiracy to commit task evasion. The verdict was two years imprisonment and a payment of $75 million in re institution. He spent time in prison starting January 2008 and 16 months later in May 2009 he was released on probation.

For a few years after his graduation, Gene Haas was both a CNC programmer and a machinist. He then opened Pro-turn Engineering machine shop and employed Abel Bugarin and Tony Cortez. After noticing how Bugarin struggled when it came to placing the index manually. He invented an index That way to make his store an efficient one. Haas Automation was made after attendees reacted positively to his index.

He and his partner were awarded US patent for their invention. His facilities did outgrow in Chatsworth, California and later in Oxnard. Almost ten years later, the latter had expanded nearly thrice its original size. Haas formed the NASCAR race team called Haas CNC Racing in 2002. As soon as he bought the Concord North Carolina-based Craftsmen Track facility, its racing started to work on its debut race Winston Cup presently Monster Energy Cup.

The team won their first race in 2006 courtesy of driver Jason Leffler. He later collaborated with Tony Stewart. By 2014, Gene had submitted his interest in entering a team in the F1 championship in 2015 0r 2016 to FIA. FIA granted him the license and the team were named Haas F1 Team. At the end of 2007 construction of a commercial wind shear, wind tunnel was complete.

Net Worth of Gene Haas

His wealth is abundant. He wholly owns the Wind Shear. Haas Automation is currently the USA’S largest machine tool manufacturer. As of 2008, its sales were slightly below $1 billion dollars. Haas Gene has an estimated net worth of $270 million.

Gene Haas is the founder and president of the successful Haas Automation. Most of the engineering colleges have benefited from his big heart. They have “CNC Labs” containing machines donated by Haas. The schools include California Polytechnic State University, California State University Northridge and California State University Channel Islands. Also, he founded the Gene Haas Foundation in 2001. Ever since, it has made donations such as Boy Scouts of America, Children Hospital Los Angeles, YMCA Kids Camp, Hospice Foundation and MS Society.