How much did Josef Newgarden earn by winning the 2024 Indy 500? Total winnings from $18,456,000 purse explored

The 2024 Indy 500 race was another perfect outing for Josef Newgarden and his team, as the Team Penske driver racked up his second consecutive win following a pulsating race. The 34-year-old needed a last-lap pass to clinch his second consecutive victory at the Indianapolis event.

The race, which had its start delayed due to a thunderstorm, eventually kicked off four hours past the scheduled time. However, the 108th edition of the Indy 500 was well worth the wait, as fans were treated to a staggering 16 different race leaders and several perfectly executed overtakes throughout the grueling 200 laps at the Indianapolis Motor Speedway.

Beyond the on-track drama, the 2024 Indy 500 also made history with a record-breaking prize money payout, shattering the record for the third year in a row. Josef Newgarden received a record $4.288 million from a total purse of $18,456,000—slightly higher than the $3.666 million he earned for winning the same title in the 2023 season.

Reacting to his 2024 Indy 500 victory, Newgarden said (as quoted by Forbes):

“What an honor to be up here. I promise I did not expect to be up here again, but I didn’t expect to be up here last year, either. Indy has a tricky and cruel way of pulling you back to reality."

“Last year was a tremendous privilege to be here. I felt that last year, and I felt it again on Race Day. I enjoy driving the car. It’s a very important weekend. To be here on Memorial Day and celebrate this race together is a huge honor.

“When you meet someone who has never been to the Indianapolis 500 and they get to go and see it, it’s an emotional experience. To be here today and run this race is very, very special. It’s an honor to be a part of this team [Penske].”

The 34-year-old now has a chance to win a third consecutive Indy 500 title as he looks ahead to the 2025 edition of the "Greatest Spectacle in Racing."

Josef Newgarden eyes possible IndyCar series title

Josef Newgarden at the INDYCAR Firestone Grand Prix of St. Petersburg - Source: Getty

While focusing on the upcoming Indy 500, Josef Newgarden recently addressed the possibility of securing his third IndyCar Series title. The American racer, already a two-time series champion, did not rule out his chances of claiming the elusive third crown.

The 34-year-old, who last won the championship in 2019, remains hopeful of defying the bookmakers’ favorites with a title-winning campaign.

Speaking in an interview with Fox Sports, Newgarden told motorsport journalist Bob Pockrass that he maintains the same mindset every season as he pursues his third career title:

"I wake up every day trying to figure out how to do better … how to be a warrior when I step into the car and deliver the best result for my team," Newgarden said.

"I want to do it as a team player, too. And I want to deliver it as a group effort,” the two-time champion concluded.

However, while Newgarden certainly has the talent to claim a third IndyCar driver's title, dethroning Alex Palou’s growing dominance will require more than just the right attitude. The Chip Ganassi driver once again showcased his exceptional skill by working his way from eighth place to victory at the St. Petersburg Grand Prix—a race that had been a challenge for him in recent seasons.

That being said, if there’s any driver who knows how to win races—even in the most improbable circumstances—Josef Newgarden is certainly one of them.