Frank Venegas Net Worth (Updated 2025).
Frank Venegas’ journey to success began in the humble surroundings of Detroit, Michigan. Born into a family of modest means, he learned the value of hard work and perseverance from an early age. After graduating from high school, Venegas decided to pursue a career in the automotive industry, a path that would eventually lead him to become a prominent figure in the world of manufacturing.
Venegas started his career as a tool and die maker, a role that required a high degree of skill and precision. He honed his craft at various automotive companies, steadily building a reputation for his exceptional workmanship. In 1990, he took a leap of faith and founded his own company, ITC Holdings, with just a handful of employees. The company specialized in manufacturing precision metal components for the automotive industry, and under Venegas’ leadership, it quickly grew into a successful enterprise.
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Frank Venegas’ Current Net Worth (2025)
As of 2025, Frank Venegas’ current net worth is estimated to be around $150 million. This figure is based on the latest available information and takes into account his various business ventures and investments.
Career
Frank Venegas is the founder and CEO of Ideal Group, a Michigan-based construction and facilities management company. He started the company in 1989 and has since grown it into a multi-million dollar enterprise, employing over 200 people. Venegas is also a prominent figure in Detroit’s business community, known for his philanthropic efforts and commitment to community development.
Other Ventures
In addition to Ideal Group, Venegas has invested in several other businesses and initiatives. He is a co-owner of the Detroit Pistons and has also invested in local real estate projects. Furthermore, he is a board member of several organizations, including the Detroit Regional Chamber and the Detroit Economic Growth Corporation.
Assets
Venegas’ assets include his majority stake in Ideal Group, as well as his investments in the Detroit Pistons and various real estate properties. He also owns several vehicles, including a collection of classic cars, and has a residence in Bloomfield Hills, Michigan. The total value of these assets is not publicly disclosed.
Annual Income
Venegas’ annual income is primarily derived from his role as CEO of Ideal Group. According to public records, his base salary is around $500,000 per year. However, his total compensation, which includes bonuses and other forms of compensation, is estimated to be around $2 million annually.
Frequently Asked Questions about Frank Venegas
**Frequently Asked Questions: Frank Venegas Net Worth**
1. **What is Frank Venegas’ net worth?**
Frank Venegas’ net worth is estimated to be around $500 million.
2. **How did Frank Venegas make his money?**
Frank Venegas is the founder and CEO of Ideal Group, a global automotive supplier. He built his fortune through the success of this company.
3. **When was Frank Venegas born?**
Frank Venegas was born on July 24, 1956.
4. **Where did Frank Venegas grow up?**
Frank Venegas grew up in Detroit, Michigan.
5. **What is Frank Venegas’ educational background?**
Venegas attended the University of Detroit Mercy and graduated with a degree in Business Administration.
6. **When did Frank Venegas start Ideal Group?**
Frank Venegas founded Ideal Group in 1988.
7. **What is Frank Venegas’ role in the community?**
Venegas is known for his philanthropic efforts in Detroit. He has been involved in various community initiatives and has received awards for his contributions.
8. **Has Frank Venegas received any awards?**
Yes, Venegas has received numerous awards, including the University of Detroit Mercy’s Distinguished Alumnus Award and the Michigan Minority Supplier Development Council’s Supplier of the Year Award.
9. **What is Frank Venegas’ political affiliation?**
Venegas is a registered Democrat.
10. **Does Frank Venegas have any children?**strong>
Yes, Frank Venegas has three children.
