Smith had trailblazing careers in motorsports, philanthropy and automotive retail, serving as Founder and Executive Chairman of Sonic Automotive, Speedway Motorsports and Speedway Children’s Charities
CHARLOTTE, NC – June 23, 2022 – (Motor Sports NewsWire) – A visionary and transformative figure in both business and entertainment, Ollen Bruton Smith, the founder and executive chairman of Sonic Automotive (NYSE: SAH), Speedway Motorsports and Speedway Children’s Charities died today of natural causes. He was 95.
Born March 2, 1927, Smith was the youngest of nine children and grew up on a modest farm in Oakboro, North Carolina. As a member of the Greatest Generation, Smith learned the value of hard work early in life. With an inspiring determination and relentless optimism, Smith built a business empire through the automotive and motorsports industries and left a legacy to inspire generations of his family, friends and colleagues.
“My parents taught us what work was all about,” Smith said in 2008. “As I look back, that was a gift, even though I certainly didn’t think so at the time. A lot of people don’t have that gift because they didn’t grow up working. But if you are on a family farm, that’s what you do. Everything is hard work.”
Smith founded Speedway Motorsports by consolidating his motorsports holdings in December 1994, and in February 1995, he made it the first motorsports company to trade on the New York Stock Exchange. Today the company owns and operates 11 motorsports entertainment facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, Texas Motor Speedway, Dover Motor Speedway, Nashville Superspeedway, North Wilkesboro Speedway and Kentucky Speedway.
Speedway Motorsports also owns and operates subsidiaries SMI Properties, U.S. Legend Cars International, Performance Racing Network and zMAX Micro Lubricants.
In January of 1997, Smith founded Sonic Automotive and took it public on the New York Stock Exchange (NYSE:SAH) in November of the same year. In just a few years, Smith grew Sonic into one of the nation’s largest companies, and in 2000 it was first officially recognized as a Fortune 500 company based in Charlotte, North Carolina. Sonic Automotive is now a Fortune 300 company and one of the nation’s largest automotive retailers with over 160 retail dealerships in over 23 states, representing 25 automotive…
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