The 30th International 500-Mile Sweepstakes was held at the Indianapolis Motor Speedway on Thursday, May 30, 1946. This was the first Indianapolis 500 presided over by new track owner Tony Hulman. The track had closed in late 1941 due to World War II, and over the next four years, the facility fell into a terrible state of disrepair. Hulman purchased the Speedway in November 1945, and quickly went to work cleaning up the grounds, which had become overwhelmed by overgrowth and weeds. The Speedway re-opened, and the 1946 race was considered a rousing success.

Race winner George Robson would be killed in a racing crash just months after the victory.

The 1946 running of the 500 was the first of sixty-one consecutive years (1946-2006) that featured popular fixture Tom Carnegie on the Speedway public address system.

During the pre-race ceremonies, James Melton performed the song "Back Home Again in Indiana." It was the first time the traditional song had been performed before the start of the race.

On December 7, 1941, the attack on Pearl Harbor launched the United States into World War II. On December 29, 1941, then-president of the Indianapolis Motor Speedway Eddie Rickenbacker announced that the 1942 Indianapolis 500 was cancelled, and the race would remain suspended throughout the duration of the war. The Speedway gates were locked, and the facility was abandoned. The race would not be held from 1942 to 1945. During the period in which the track was closed, it fell into a terrible state of disrepair. Grass and weeds overwhelmed the brick racing surface, and the old wooden grandstands became frail and unsuitable and inhospitable.

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