Jay Penske

American businessman (born 1979)

Jay Penske is an American businessman who is the Chairman and CEO of Penske Media Corporation, a digital media and publishing company he founded in 2004.

Penske co founded Firefly Mobile, Inc., a wireless company that developed the Firefly mobile phone for children, and other youth targeted mobile products. Penske also owns Dragon Books, Ltd., a Los Angeles based used bookstore which sells rare and collectible books which opened for business in 1999. Penske is the Chairman and CEO of Penske Media Corporation (PMC), 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, 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 founded an IndyCar Series racing team in 2007, jointly with Steve Luczo, the Chairman of Seagate Technology. 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 Electric Formula powered Grand Prix’s in the following countries: Germany, at the Berlin Grand Prix (2015); Mexico, at the Mexico City Grand Prix (2016); and India, at the Hyderabad Grand Prix (2023).

Under Penske's leadership, PMC was awarded as one of North America's top 100 private companies by Herring Research. He was additionally recognized repeatedly as both a 30 Under 30 and Under 40 Success Story from his alma mater. Penske was also added to Vanity Fair'''s New Establishment list, and in 2010 the magazine named Penske one of the 10 best dressed men in the world in their "International Best Dressed List" of that year. Additionally he has been named a Vice Chair of the American Film Institute (AFI) in 2014 and in 2015 was named by the NY Observer'' newspaper as one of the 25 most powerful people in Los Angeles. Penske has been compared to William Randolph Hearst, Si Newhouse, and Rupert Murdoch for his acquisition of media brands.

Penske became engaged to Elaine Irwin, the model and former wife of musician John Mellencamp, in October 2012. Their daughter was born in 2013.