How F1 Teams Make Money

In the world of Formula 1, where speed meets precision and courage, it’s not just the thrill of the race that captures the spotlight but also the staggering fortunes of the richest F1 Drivers themselves. These drivers are not just masters of the race craft but also astute investors and brand ambassadors who have leveraged their fame to amass incredible riches.

From Lewis Hamilton’s meteoric rise from humble beginnings to become one of the wealthiest athletes on the planet, to the scions of billionaire families like Lance Stroll, who have racing in their blood, this article explores the unique stories behind the financial successes of Formula 1’s elite.

With their enormous salaries, endorsement deals, and strategic investments, these drivers have not only achieved greatness on the track but have also secured their positions as some of the world’s richest sportsmen. Join us as we uncover the compelling narratives behind the net worth figures of these extraordinary individuals and learn how their careers in the fast lane have translated into immense wealth. recommends

Who are the Richest F1 Drivers?

F1 driver incomes place them among the world’s highest-paid athletes, primarily due to their fearless commitment to facing danger each time they buckle up in their cars.

With over 20 races annually, some drivers, especially those with long careers, have amassed astonishing net worth figures. The drivers often bolster this accumulation by savvy financial choices and investments beyond the world of Formula 1.

Below, we present the Formula 1 drivers with the highest net worth on the 2023 grid:

Richest F1 Drivers: Lewis Hamilton – $340 million

Lewis Hamilton takes the top spot on the 2023 Formula 1 grid. This is a very impressive achievement considering his modest beginnings in the sport.

His net worth of $340 million is a testament to his unwavering determination and exceptional talent. Hamilton’s father reportedly invested the family’s savings to support his career, resulting in one of the sport’s greatest drivers.

Richest F1 Drivers: Fernando Alonso – $270 million

Spanish racing phenomenon Fernando Alonso secures the second position with a net worth of $270 million.

At 41 years old, Alonso is the oldest driver on the 2023 F1 circuit, representing Aston Martin. He inherited his love for cars and racing from his father, an amateur kart racer.

Over 16 Formula 1 seasons, Alonso has solidified his status as one of the sport’s all-time greats.

Richest F1 Drivers: Max Verstappen – $90 million

Max Verstappen, the first Dutch driver to win the Formula 1 World Championship in 2021, ranks third with an estimated net worth of $90 million.

What is impressive about Max’s wealth is the young age he has achieved it at. This will increase substantially as he gets older.

He signed a lucrative contract with Red Bull in early 2022, keeping him with the team until 2028.

Richest F1 Drivers: Sergio Perez – $78 million

Sergio Perez’s journey from a junior member of the Ferrari Driver Academy to a Red Bull Racing driver has been remarkable. He hasn’t had the same sucess as teh previous three drivers who are all worl champions.

He does however have an impressive list of sponsors who supplement his salary which projects him to the upper echelons of wealthy drivers.

It is believed that his net worth is approximately $78 million.

Richest F1 Drivers: Daniel Ricciardo – $52 million

Australian driver Daniel Ricciardo’s path to Formula 1 began through Red Bull’s young driver program.

Daniel was on a very strong upward trajectory when he was with Red Bull. Unfortunately (for Daniel) Max Verstappen was drafted into the team and quickly established his superior driving ability.

Daniel left for greener pastures at Alpine – which didn’t work out. He moved to McLaren and had a very difficult time where he seemed to lose his mojo.

He intended to take 2023 off and act as the Red Bull reserve driver. When Nyck De Vries was un-ceremonially removed from Alpha Tauri Daniel was drafted in for eh rest of the 2023 season. He has state dpublically that his ultimate goal is to get back into teh Red Bull team for 20025.

Daniel reportedly has a net worth of $52 million.

Richest F1 Drivers: Lance Stroll – $52 million

Lance Stroll, the son of billionaire Lawrence Stroll, benefits from a family deeply involved in the sport, owning the Aston Martin F1 team.

Ignoring the massive wealth, he will one day inherit; he is valued at around $52 million. He enjoys significant income from both racing for his father’s team and various endorsements.

Richest F1 Drivers: Pierre Gasly – $35 million

French driver Pierre Gasly’s career has seen its ups and downs, including a stint with Red Bull.

He currently drives for Alpine and is estimated to have a net worth of $35 million.

Richest F1 Drivers: Valtteri Bottas – $30 million

Valtteri Bottas, a Finnish driver, has a net worth of $30 million. After several years at Mercedes where he supported Lewis Hamilton he joined Alfa Romeo in 2022.

At Mercedes he amassed 10 race wins and 67 podiums.

Kevin Magnussen – $26 million

Danish driver Kevin Magnussen, currently competes for the Haas F1 team.

Kevin is an astute businessman and has income streams that he has developed outside of F1.

His net worth is estimated to be around $26 million in 2023.

Esteban Ocon – $18.5 million

Esteban Ocon, a French driver for the Alpine Team, has overcome various obstacles in his career.

With an estimated net worth of $18.5 million , he achieved his first F1 win at the Hungarian Grand Prix in 2021.


These drivers exemplify the pinnacle of motorsport talent and have reaped the financial rewards that come with their exceptional skills and dedication to Formula 1.


By Jonny Noble

ABOUT THE AUTHOR - Jonny Noble I’m a dedicated F1 Writer – and I’ve Been One for Over Four Decades, I’ve been intimately immersed in the world of Formula One for more than 44 years. That’s longer than most professional commentators can boast! As an independent writer, I offer a unique perspective on the entire F1 landscape, free from biases that might cloud the discussion. We dive deep into the exhilarating, frustrating, and captivating facets of the F1 universe. So, regardless of my amateur status, one thing is undeniable: four decades of dedicated F1 fandom have forged strong opinions worth exploring!