The Patch That Paid for Speed
Don Panoz made his billions helping people quit bad habits, even if he kept his own. A pharmaceutical entrepreneur, he led the team that invented the transdermal nicotine patch in the 1980s. This invention gave him the capital to indulge in his son Dan's automotive dreams. Ironically, Don was famously known for chain-smoking cigarettes in the pit lane while his cars raced around the track.
Bringing Le Mans to America
In the late 90s, US sports car racing was a mess. Panoz bought famous tracks like Road Atlanta and Sebring, and then did something audacious: he struck a deal with the French organizers of the 24 Hours of Le Mans to bring their rules to America. He founded the American Le Mans Series (ALMS) in 1999 and launched the Petit Le Mans race. This move professionalized US endurance racing and attracted factory teams from Audi, Porsche, and BMW.
The Batmobile and The DeltaWing
Panoz wasn't satisfied with just hosting races; he wanted to win them with American engineering. He funded the Panoz Esperante GTR-1, a thunderous front-engine prototype that looked like the Batmobile and challenged the rear-engine European dominance. Later in life, he championed the DeltaWing, a dart-shaped experimental car designed to run at Le Mans speeds with half the fuel and half the power of a normal car, proving that he remained an innovator until his death in 2018.