Peter Xiberras’ net worth is tied to his motor racing career. He is an Australian professional Top Fuel drag racing champion and motorsport executive. He owns the PremiAir Racing, an Australian motor racing team competing in ANDRA Top Fuel and the Supercars Championship. 

Peter Xiberras is also the Managing Director of PremiAir Hire, an equipment hire specialists of diesel and electric air compressors, dryers and filtration, generators, lighting towers, biofuels, traffic management equipment and  sustainable event solutions. 

Peter Xiberras net worth 

The estimated Peter Xiberras net worth is undisclosed. Nonetheless, he has achieved financial success through a career of 11 years of Top Fuel racing. Other significant additional income comes from ownership of PremiAir Racing and PremiAir Hire. 

Career overview 

Peter Xiberras is best known as the owner of PremiAir Racing and Managing Director of PremiAir Hire. His journey into motorsport began after he became frustrated that he could not fully exploit the power of his street-going hot rod on public roads.  

He initially raced a Ford Capri fitted with a 400-cubic-inch Chevrolet engine in Super Sedan, progressing from 10-second passes to around 9.40 seconds.  

He later purchased a dragster with a supercharged engine and moved into Supercharged Outlaws, eventually recording a 6.52-second pass. 

Peter Xiberras unexpectedly entered Top Fuel after intending only to buy a transporter to travel to major drag-racing events. In 2014, he and his team made their elite-level debut at Willowbank Raceway’s Easter event.  

He reached his first Top Fuel final at the Australian Nationals later that year before securing his maiden victory at the 2018 New Year’s Thunder event.  

His PremiAir Racing operation subsequently developed into one of Australia’s leading drag-racing teams, culminating in back-to-back ANDRA Top Fuel championships in 2021 and 2022.  

During his career, he also established an impressive collection of track records, at one stage simultaneously holding records at Willowbank Raceway, Perth Motorplex and Sydney Dragway.  

In 2021, he recorded a 3.742-second run at 325.22 mph at the Winternationals, making him the fastest drag racer outside the United States at the time; the mark remained until April 2024. 

PremiAir Racing 

Beyond drag racing, Peter Xiberras expanded PremiAir into a broader motorsport enterprise. In 2022, PremiAir Racing acquired the Supercars Championship operation formerly associated with Tekno Autosports and entered the series with Garry Jacobson and Chris Pither.  

James Golding later joined the team and remained through 2025, achieving the team’s first Supercars pole position in Darwin in 2024 and its first podium at Sandown that same year. 

In 2025, Golding and David Russell also finished third at the Bathurst 1000 after initially crossing the line first before a penalty. By 2026, PremiAir’s Supercars drivers were Jayden Ojeda and Declan Fraser, with former Supercars team principal Roland Dane also joining the organisation. 

PremiAir Hire 

Peter Xiberras’ achievements extend beyond the racetrack through the development of PremiAir Hire, the business that forms the principal foundation of his wealth. He began the company in 1994, originally operating as PremiAir Compressor Services from a milking shed in Richmond, Sydney.  

As a qualified air-compressor technician, he initially built the business around a single truck and a box of tools. Through an emphasis on workmanship, customer service and business expansion, the company grew from one employee to about 80 staff and expanded from compressor services into the hire, sale and servicing of compressors, generators, lighting towers and variable message signs.  

PremiAir Hire eventually developed 11 branches along Australia’s east coast, creating a substantial commercial enterprise. 

Final thoughts on Peter Xiberras net worth 

Overall, Peter Xiberras’ wealth links to his ownership and leadership of PremiAir Hire and the business interests built around PremiAir, rather than solely his earnings as a racing driver. His wealth has been supported by the company’s long-term expansion across equipment hire, sales and servicing, while his motorsport activities through PremiAir Racing have enhanced his public profile and professional achievements.  

Featured image: Peter Xiberras on premiairracing.com