Social media exploded with rumors this week claiming Tesla CEO Elon Musk is buying NASCAR or making major investments in the sport. From fake Facebook posts promising $14 billion offers for Hendrick Motorsports to viral videos claiming Musk is purchasing the entire sanctioning body, NASCAR fans have been flooded with misleading information. Here’s what’s actually happening — and what’s complete fiction.
The Verdict: NO, Elon Musk Is Not Buying NASCAR
Let’s get straight to the point: Elon Musk is not buying NASCAR. The France family, who founded NASCAR in 1948, remains firmly in control of the sport and has publicly stated they have no interest in selling.
According to Essentially Sports, NASCAR President Steve Phelps addressed these rumors directly in July 2025:
“We are privately held by the France family, and we’re not interested in selling.”
Where Did These Rumors Come From?
The Elon Musk NASCAR rumors stem from several sources:
1. Fake Facebook Posts and Scam Accounts
Multiple fake Facebook posts have circulated claiming Musk offered $14 billion to buy Hendrick Motorsports or made deals with NASCAR drivers like Chase Elliott for $77 million Tesla Cybertruck promotions.
These posts are scams designed to generate clicks, steal personal information, or trick users into buying fake gift cards. Fox News reported similar Elon Musk impersonation scams on Facebook in June 2025, where victims lost hundreds of dollars to fake prize giveaways.
2. Satirical “News” Sites
A satirical website called “The Word on Pop Culture” published a fake story in January 2025 claiming NASCAR and Tesla reached a deal to sponsor the Truck Series with Tesla Cybertrucks. The article quoted fake statements from Steve Phelps and Musk, with absurd lines like Musk making “vroom vroom” noises at a press conference.
This was satire, not real news. Yet it spread across social media as if it were factual.
3. Speculation About Private Equity Investment
In February 2025, reports emerged that the France family was exploring private equity partnerships for NASCAR — not selling the entire company, but potentially bringing in external investors at the team level or in ancillary operations.
Steve Phelps clarified:
“Private equity can play a valuable role in our sport by investing in teams, bringing in new sponsorships, and providing expertise.”
This doesn’t mean Musk or any billionaire is buying NASCAR — it means the France family is open to strategic partnerships while retaining ownership.
Why NASCAR Fans Should Be Skeptical?
Elon Musk is one of the world’s richest people, currently valued at over $461 billion according to Bloomberg. His name generates massive clicks, making him a perfect target for scammers and fake news creators.
Similar rumors about Musk buying YouTube and Google circulated in 2023 and 2024, all of which were debunked. Fake YouTube channels with names like “Elon Musk Fan Zone” created doctored videos showing Musk shaking hands with Google executives — completely fabricated content designed to mislead viewers.