Lucas Oil founder and motorsports icon Forrest Lucas dies at 83, leaving $500 million empire

Forrest Lucas, a native of Indiana and the founder of Lucas Oil Products, died at the age of 83, his company announced on Saturday, August 23. Lucas is survived by his wife Charlotte and his seven children.

In a post shared in X by Lucas Oil Products, the company said, "We are deeply saddened by the passing of our founder, Forrest Lucas."

It added that “Forrest's boundless drive for Lucas Oil, his generosity and love for his family, friends and community defied his life. While we grieve this tremendous loss, we take comfort in knowing his legacy will continue to inspire our team and all who knew him.”


Frustrated by ongoing mechanical issues, Lucas started developing his own oil and fuel additives. This led to the launch of Lucas Oil Products in 1989, which he founded alongside his wife.

The brand has become synonymous with motorsports and the Indianapolis Colts, who play at Lucas Oil Stadium.

Lucas Oil also sponsors the Indiana Pacers' jerseys and has been the naming rights partner of Indianapolis Raceway Park since 2011.

Born in February 1942 in rural Bartholomew County, Lucas's beginnings were humble. He was raised on a small farm in the now-defunct town of Elkinsville and, later in life, said his childhood was one of "rural deprivation."

During his teenage years, Forrest and his three younger sisters survived hard times in the home Lucas told IndyStar in 2014 was a "shack.”

Lucas also dabbled in television media. In October 2011, he purchased MAVTV, turning it into a motorsports-focused cable TV channel.

Earlier this year, MAVTV was acquired by RACER Media and is now known as RACER Network. The channel continues to air motorsports-based programming.

Forest Lucas' net worth

According to Celebrity Net Worth, Forrest Lucas is worth approximately $500 million. He is best known as the founder of Lucas Oil Products and has established himself as a significant figure in the motorsports and automotive industries.

Lucas began his career in the trucking business, where he built a freight operation with 13 trucks. He was one of the first independent haulers to receive nationwide operating authority after deregulation in the 1980s.