Joe Gibbs Net Worth

What is Joe Gibbs's Net Worth?

Joe Gibbs is an auto racing team owner and former football coach who has a net worth of $70 million. Joe Gibbs runs the stock car racing team Joe Gibbs Racing. Since its founding in 1992, the team has won multiple NASCAR Cup Series and Xfinity Series championships. Previously in his career, Gibbs was the head coach of the NFL's Washington Redskins for a total of 16 seasons, and led the team to three Super Bowl titles.

Early Life and Education

Joe Gibbs was born on November 25, 1940 in Mocksville, North Carolina to Winnie and Jackson. He has a younger brother. As an adolescent, Gibbs went to Santa Fe High School in Santa Fe Springs, California, graduating in 1959. He went on to attend Cerritos College and then San Diego State University, earning both bachelor's and master's degrees from the latter.

Gibbs began coaching football in 1964, serving as an offensive line coach at his alma mater San Diego State University. After leaving the school in 1966, he coached two years each at Florida State University, the University of Southern California, and the University of Arkansas. At Arkansas, he serves as a running backs coach. In 1973, Gibbs joined the NFL as a running backs coach for the St. Louis Cardinals. He served in that position until 1977, and then spent one season as offensive coordinator for the Tampa Bay Buccaneers. Gibbs went on to serve as offensive coordinator for the San Diego Chargers from 1979 to 1980. With Chargers head coach Don Coryell, he helped spearhead the highly effective offensive scheme known as "Air Coryell," which was employed by quarterback Dan Fouts to set numerous NFL offensive records.

Washington Redskins

After 17 years spent as an assistant coach, Gibbs became head coach of the NFL's Washington Redskins in 1981. Following a mediocre first season with the team, he came alive in the strike-shortened 1982 season, leading the Redskins to an NFC Championship title and victory in Super Bowl XVII. For his season, Gibbs was named NFL Coach of the Year. He earned that honor again in 1983 after leading the Redskins to another NFC Championship title and Super Bowl appearance. However, in Super Bowl XVIII, the team lost to the Los Angeles Raiders. The Redskins won their division again in 1984, but were eliminated in the Divisional playoffs by the Chicago Bears. In the 1985 season, the team posted a 10-6 regular-season record but just missed the playoffs. Gibbs and the Redskins bounced back in 1986 with a 12-4 regular-season record and an appearance in the NFC Championship Game. In the game, they were routed by the New York Giants. The team fared better in 1987, winning the NFC Championship en route to a blowout victory over the Denver Broncos in Super Bowl XXII. After so-so seasons in 1988, 1989, and 1990, Gibbs led the Redskins to another NFC Championship title in 1991, followed by a third Super Bowl title with a win over the Buffalo Bills in Super Bowl XXVI. Gibbs spent one more season coaching the team before retiring in March of 1993.

During Gibbs's retirement from football, various NFL owners tried with no luck to get him to return to coaching. Finally, in 2003, he decided to come back, and in early 2004 he accepted an offer to return as head coach of the Redskins, signing a five-year contract worth $28.5 million. In his first season back, Gibbs led the team to a 6-10 regular-season record, the worst of his career at that point. He turned things around in 2005 by utilizing the shotgun formation in his offense, which helped the Redskins make it to the Divisional playoffs. There, the team lost to the Seattle Seahawks. Gibbs was unable to keep up his success in 2006, as the Redskins finished with a dismal 5-11 regular-season record, a new low for the team under his leadership. He managed to course-correct in 2007 by leading the team to a 9-7 record and a return to the playoffs. This time, the Redskins lost in the Wild Card round to the Seahawks. After the end of that season, Gibbs retired as head coach of the Redskins, citing family responsibilities. He was succeeded in his position by Jim Zorn.

Joe Gibbs Racing

In 1992, Gibbs founded the NASCAR team Joe Gibbs Racing. He ran the team with his son J. D. until J. D.'s passing in early 2019. For its first 16 racing seasons, JGR ran cars from General Motors, and won Cup Series championships in 2000, 2002, and 2005. Starting in the 2008 season, the team switched to Toyota, and in 2015 and 2019 won two more Cup Series championships, with driver Kyle Busch. JGR also won Xfinity Series championships in 2016, 2021, and 2022.

Beyond NASCAR, Gibbs was involved with the NHRA from 1995 to 2000, fielding three cars and winning two NHRA Winston Pro Stock Championships. Later, in 2008, he expanded his operations to motorcycle racing with his JGRMX team, which competes in the AMA Motocross and Supercross Championships. JGRMX was managed by Gibbs's son Coy until Coy's passing in late 2022.

Personal Life

With his wife Patricia, Gibbs lives in Charlotte, North Carolina. The couple had two sons named J. D. and Coy; the former passed away in 2019 and the latter in 2022. Gibbs has eight grandchildren, including Ty and Jackson, both of whom work for his NASCAR team.

Charlotte Mansion

In 1995, Joe and Patricia paid $675,000 for a 1.2-acre plot of land in Cornelius, North Carolina. They proceeded to construct an 8,000-square-foot mansion. Construction was completed in 1996. Today, their property is worth $6-7 million.