And the top drivers in the sport can amass wealth that rivals any of the highest-earning athletes in the world.
27
27
27
The 2023 grid – which has remained the same for the upcoming 2024 season – saw drivers earning huge sums topped out at a whopping £45million for reigning champion Max Verstappen.
But over the course of an F1 career the figures are even more staggering, with the likes of Lewis Hamilton and Michael Schumacher reaching mega-wealth status.
Accounting for the huge salaries some drivers command, plus sponsorship deals and property portfolios, net worths are in the region of hundreds of millions.
Below we take a look at the top ten F1 drivers in history with the highest net worth, according to figures compiled by Planet F1 and GQ Australia.
10. Eddie Irvine – £92.5million
27
27
27
A four-time race winner in F1 who battled it out with the likes of Schumacher and Mika Hakkinen in the late 1990s.
However, Eddie Irvine never managed to get his hands on an F1 drivers title.
Instead, much of his wealth comes from investment into an estimated 40 properties worldwide, including an Irish mansion he sold to Matt Damon in 2021.
According to the Sunday Times Rich List in 2006 this made him the fifth richest person in Northern Ireland.
9. Mario Andretti – £100.1million
27
27
An icon of motorsport, Andretti is one of three drivers to win races in F1, Indycar, Nascar and the World Sportscar Championship.
Some of his wealth includes an 18,513 square feet property in Nazareth, PA, USA, that features four bedroooms, 15 bathrooms and an indoor and outdoor swimming pool.
He has seen corners on streets and race tracks alike named after him and is now gearing up for a team move into F1.
So his inclusion in this list should be little surprise.
FREE BETS – BEST BETTING OFFERS & NEW CUSTOMER BONUSES
8. Sebastian Vettel – £107.9million
27
27
27
Four-time F1 world champion Sebastian Vettel is a name synonymous with motorsport despite keeping a fairly low profile away from the track which has included a visit to a top German medical clinic.
Green-fingered Vettel commanded one of the highest salaries in the sport during his time with Red Bull, Ferrari and Aston Martin.
Vettel also has a stunning car collection including the 2010 Mercedes-Benz SLS AMG worth £175,000.
Since retiring he has invested in green projects in a bid to tackle climate change.
7. Jenson Button – £115.6million
27
27
27
Shock 2009 F1 champion Jenson Button continues to be a familiar face in the sport thanks to his TV appearances and recent role in the Brawn documentary as well as being a senior adviser to Williams F1.
Button, who finished third on his Daytona 24 hours debut, has a large property portfolio and was reportedly one of F1’s biggest earners even before he landed his one and only title.
He has also taken a liking to cars and has owned a stunning garage, with which he can chaperone wife Brittany Ward around in.
These have included a McLaren P1, a Bugatti Veyron and Ferrari 275 GT.
6. Kimi Raikkonen – £140.6million
27
27
A one-time F1 title champion like Button, “The Iceman” could command one of the highest salaries in the sport during his peak and famously almost bankrupt Lotus during his time with the team.
Like some of his former rivals, Raikkonen is a property investor – including a $24m Swiss villa – and he is now helping his son Robin with his own motorsport career.
The villa in question has been dubbed a “Bond villian-like lair” which houses an impressive collection of motors including a £$360,000 Rolls-Royce Wraith Black Badge and a $3.6million Ferrari Enzo.
Raikkonen is also said to own three homes in Finland, and have properties in Dubai and Thailand.
4. Max Verstappen – £165.5million
27
27
27
At present, Verstappen has commanded the most lucrative F1 contract for the past two seasons when accounting for bonuses.
Verstappen has invested in his own GT team, is an ambassador for EA Sports and has a host of personal sponsors, all of which helped him earn a place in Forbes’ 2023 list of sports top young earners.
He also has a great affinity for cars, with his collection worth around £2.3m.
Verstappen also lives in Monaco, which is not exactly on the cheap end of the property market.
3. Fernando Alonso – £205million
27
27
27
F1’s most experienced driver, and also one of its best, it should come as no surprise to see two-time champion Fernando Alonso high on the list.
As well as commanding huge contracts, Alonso has invested into the next generation with his Alonso Sports Complex in his native Asturias which features a museum and a karting track.
Like many others in this list the Spaniard owns a number of supercars.
These include a McLaren P1, Aston Martin DBX luxury SUV and Ferrari 599 GTB Fernando Alonso Edition.
2. Lewis Hamilton – £224.7million
27
27
27
Hamilton was recently labelled a “brand” due to his involvement in so many projects.
Expected to earn £50million at Mercedes during the 2024 season, Hamilton is a cool earner salary wise.
Hamilton has investments in property, cars, fashion and initiatives encouraging wider representation in sport and even teams, with Hamilton investing in NFL side Denver Broncos in 2022.
Luckily a wide range of sponsors including the likes of Tommy Hilfiger, IWC and Bose allow him to fund this far reaching influence which has landed on him on the Sunday Times Rich List.
1. Michael Schumacher – £462.5million
27
27
An era defining driver for many fans of motorsport, the seven-time F1 champion was named the highest-paid athlete by Forbes in 1999 and 2000 and even predicted to be the first billionaire athlete in 2005.
In 2017, he was named as the fifth-highest athlete of all time in terms of career earnings, but he has not been seen publicly since his life-changing skiing accident in 2013.
The German was well-known for his charitable donations, including a £39.5m donation to UNESCO during his final five years of racing.
Predictably, Schumacher and his family have a worldwide real estate portfolio, while Schumacher also earned a staggering amount through brand endorsements, including a £8.5m deal to wear a shell hat and show its logo in nearly all public appearances.
🏁 Complete F1 2024 race calendar – details on every Grand Prix and start time this year 🏁