The richest F1 drivers in 2024: Who tops the list — and is Lewis Hamilton the wealthiest?

Richest F1 drivers in 2024: Schumacher leads all-time, Hamilton richest active, and Verstappen tops annual pay. See the full list, salaries, and how they earn.

Quick Answer

• All-time: Michael Schumacher likely remains the richest Formula 1 driver ever.
• Active drivers: Lewis Hamilton is the wealthiest.
• Annual pay in 2024: Max Verstappen is the top earner.

Why “likely”? Because net worth figures are private and based on estimates. But across credible reporting and industry estimates, the picture is consistent: Schumacher’s career earnings and endorsements set a towering benchmark; Hamilton leads the active grid in wealth; Verstappen is rewriting the record books on annual salary and bonuses.

How F1 Drivers Build Fortunes

• Team salary and race/Championship bonuses
• Endorsements and image rights
• Long-term partnerships and licensing (apparel, watches, lifestyle brands)
• Investments and businesses (from venture stakes to production companies)
• Post-racing careers (media, team ownership, motorsport ventures)

The 2024 Rich List (All-Time, Estimated Net Worth)

Note: Ranges reflect public reporting and industry estimates; they are directional, not definitive.

1. Michael Schumacher — ~$600–780 million
   • The sport’s dominant commercial force in the 1990s–2000s. Massive Ferrari-era salaries, title bonuses, and blue-chip endorsements (automotive, finance, luxury) compound to keep him No. 1.
2. Lewis Hamilton — ~$325–450 million
   • The wealthiest active driver. Seven world titles, multiple nine-figure Mercedes contracts, major endorsements (fashion, watches, tech/energy), and growing investments (including a stake in the NFL’s Denver Broncos) plus an active film/TV production arm.
3. Fernando Alonso — ~$250–300 million
   • Two-time champion with long, lucrative stints at Renault, Ferrari, McLaren, and Aston Martin. Endorsements, endurance racing deals, and savvy off-track investments keep him near the top.
4. Kimi Räikkönen — ~$200–250 million
   • Once the highest-paid athlete in the world for a season, thanks to Ferrari-era mega deals. Endorsements and a long career’s worth of prize money buoy his total.
5. Max Verstappen — ~$150–250 million
   • The sport’s highest annual earner in 2024 via a long-term Red Bull deal packed with title/points bonuses. Still only in his 20s, with a trajectory that could challenge Hamilton’s active-driver wealth over time.
6. Sebastian Vettel — ~$140–180 million
   • Four-time champion with peak Red Bull and Ferrari salaries; endorsements and a careful, lower-profile investment style.
7. Jenson Button — ~$120–170 million
   • World champion, long career, strong endorsements, media/pundit work, and automotive ventures.
8. Nico Rosberg — ~$60–100 million
   • 2016 champion; investments and sustainability ventures (including team ownership in electric off-road racing) after retirement.
9. Daniel Ricciardo — ~$60–90 million
   • High-value contracts (Red Bull, Renault, McLaren) and strong personal brand/endorsements.
10. Sergio Pérez — ~$55–85 million
    • Red Bull salary plus a robust sponsor portfolio and long tenure in F1.
11. Charles Leclerc — ~$45–70 million
    • Ferrari star with a fresh long-term extension; rising endorsement slate.
12. Lando Norris — ~$35–60 million
    • McLaren’s marquee name with a new long-term deal; quick growth in endorsements and personal brand.

Active Drivers-Only Leaderboard (2024, Net Worth Estimates)

• Lewis Hamilton — ~$325–450m
• Fernando Alonso — ~$250–300m
• Max Verstappen — ~$150–250m
• Sergio Pérez — ~$55–85m
• Daniel Ricciardo — ~$60–90m
• Charles Leclerc — ~$45–70m
• Lando Norris — ~$35–60m
• George Russell, Carlos Sainz, Valtteri Bottas, Pierre Gasly, Esteban Ocon, and others — generally in the tens of millions, depending on contract vintage and endorsements.

What About Lance Stroll?

Important nuance: Lance’s personal net worth is sizable but not in the top tier above; the billionaire fortunes in the Stroll family relate primarily to his father, Lawrence. Family wealth isn’t the same as personal net worth, though it can shape career choices and investments.

Is Lewis Hamilton the Wealthiest?

• Among active drivers, yes. Hamilton’s combination of title-laden contracts, premium endorsements (fashion and luxury positioning matters), equity stakes, and media ventures puts him comfortably at No. 1.
• All-time, Michael Schumacher still leads. His peak-era contracts and endorsements—and the sheer length of time they’ve compounded—leave him atop the historical list.

Who Earns the Most in 2024?

• Max Verstappen. His Red Bull deal reportedly carries the highest base pay on the grid, with performance bonuses that can push him far past rivals in a dominant season.
• Hamilton’s Mercedes contract keeps him right at the summit for annual pay as well, and his upcoming Ferrari switch from 2025 should maintain elite earnings.
• Alonso, Norris, Leclerc, and Pérez form the next tier, with salaries that can swing year-to-year based on new deals and team fortunes.

Why Verstappen May Close the Gap

If Red Bull dominance continues and Verstappen maintains title bonuses through the mid-2020s, his cumulative career earnings could accelerate faster than anyone else’s at a comparable age. Whether he catches Hamilton’s net worth depends on how aggressively he compounds his off-track investments.

How These Fortunes Are Changing in 2024

• New contracts: Extensions and restructures for top talents (Ferrari and McLaren especially) lift the middle of the grid.
• Endorsement mix: Drivers with strong personal brands (Hamilton, Verstappen, Norris, Leclerc) increasingly monetize beyond the paddock—fashion, gaming/esports, streaming, and content production.
• Team performance: Title battles drive bonus triggers; they can swing tens of millions in a single season for the very top earners.

Methodology and Caveats

• Net worth figures are estimates drawn from reported salaries, historical deal sizes, endorsements, business interests, and typical investment compounding. They can’t be exact.
• “Richest” here refers to personal net worth, not family wealth or corporate holdings.
• Annual salaries don’t equal net worth: bonuses, taxes, management fees, and investment performance all matter.
• Rankings can shift quickly with new contracts, exits, or major investments.

Bottom Line

• Michael Schumacher likely remains the richest F1 driver ever.
• Lewis Hamilton is the wealthiest active driver—and still expanding his footprint beyond racing.
• Max Verstappen is the current pay leader and has the clearest path to challenge Hamilton’s active-driver wealth over the long term.
• The rest of the top tier—Alonso, Räikkönen, Vettel, Button—illustrates that longevity, timing, and branding are as important as raw speed when it comes to building a fortune in Formula 1.

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