NASCAR has a huge fan base, and its most coveted race — Daytona 500 — is a popular and highly competitive event. It also comes with a large sum of prize money, which may be why Newman wants to make his comeback there. All the drivers of the race take home some money, and the winner takes the biggest piece. The total payout is around $23 million, and it is believed that last year’s winner took home $2 million, according to Yahoo! News.

Ryan Newman’s current net worth is estimated at $50 million, Wealthy Genius reports. He’s earned most of his wealth driving professionally since 2001. He picked up his first career win a year later in 2002 at the New Hampshire 500. The following year, Newman would earn his most wins in a single year. In 2003, he won a total of eight racing titles. Newman would win other titles in 2004 and 2005, before winning his biggest championship in Daytona in 2008. He won himself five other titles afterward.

It’s no surprise how he racked up so much money. According to Fox Sports, prize money for race car drivers can be anywhere from $166,000 to over $1 million. 

Newman and his ex-wife also formed charities, and together have made charitable donations. The Ryan Newman Foundation’s Rescue Ranch was created for the education of safe and humane animal rescue approaches. So come tax time, he probably has some considerable tax write-offs.