Yahoo Finance Ranked: the Formula 1 drivers' rich list
The 2024 F1 rich list
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The 2024 Formula 1 (F1) season is underway! But how do the 20 drivers competing in this season's 24 races rank in terms of personal fortunes?
From seasoned champions to promising newcomers, each driver's position on our rich list offers a glimpse into the diverse array of fortunes that can be amassed from the sport.
Read on to discover where today's drivers rank in terms of wealth, from back of the grid to pole position, and uncover how they've made their money, both on and off the track.
Where drivers' fortunes are tied, their place on the grid is determined by the length of their F1 careers. All dollar amounts in US dollars.
20. Logan Sargeant: $1.5 million (£1.2m)
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Logan Sargeant is creating a buzz as the first American driver to compete in Formula 1 since 2015. He made his F1 debut with Williams Racing last year and will remain with the team for the 2024 season.
The 23-year-old racer has been competing in motorsports for several years, becoming the first American driver to win an F2 race in 2022. His estimated total fortune stands at around $1.5 million (£1.2m), with reports suggesting he earns $450,000 (£353k) per season from Williams.
Sargeant's salary may be modest compared to those of more seasoned F1 drivers, but as the sole American racer, he's in a prime position to score lucrative endorsement deals that will boost his net worth. For instance, he became the first-ever brand ambassador for the media company Sport24 last year.
19. Alexander Albon: $3 million (£2.4m)
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Thai-British racer Alexander Albon holds the distinction of being not only the second-ever Thai racer in Formula 1 but also the first Asian to secure more than one podium finish in the series (Albon earned two).
The 27-year-old made his F1 debut in 2019 and received a mid-season promotion to Red Bull Racing. Despite being dropped by Red Bull in 2020, he made an epic comeback to the grid with Williams in 2022, marking a rare second opportunity in F1.
Albon's estimated net worth stands at $3 million (£2.4m), with much of his fortune derived from his racing career. He also profits from lucrative endorsement deals, including a brand ambassadorship with Thailand's Monsoon Valley Vineyard and a deal he signed with Japanese watchmaker CASIO back in 2019.
18. Oscar Piastri: $4 million (£3.1m)
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Following success in the karting scene, Australian racer Oscar Piastri began competing in F4 when he was just 15 years old. After achieving victories in F3 and F2, he made his F1 debut with McLaren last year and will remain with the team until 2026.
Despite being the youngest driver on the grid, the 22-year-old was the joint-ninth highest-paid racer in F1 in 2023. According to Forbes, he received a $3 million (£2m) salary, as well as $5 million (£4m) in bonuses after finishing ninth overall. However, these figures do not account for tax and agent fees.
His current net worth is estimated at $4 million (£3.1m). Alongside his sporting career, the rookie racer has already become the face of numerous brands in his home country, such as lifestyle company Quad Lock and software company Dubber.
17. Zhou Guanyu: up to $5 million (£3.9m)
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Zhou Guanyu made history as the first Chinese citizen to compete in Formula 1, debuting with Alfa Romeo (now known as Kick Sauber) in 2022. He also competed with the Swiss team in the 2023 season and will remain with them in 2024.
Guanyu began competing in the karting scene when he was just eight years old, relocating from Shanghai to the United Kingdom at the tender age of 12 to kickstart his motorsport career.
The 24-year-old's estimated net worth is between $1 million (£790k) and $5 million (£4m). Off the grid, he benefits from endorsement deals with brands such as the luxury fashion house Dior and the bank HSBC.
16. Yuki Tsunoda: $5 million (£3.9m)
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Japanese racer Yuki Tsunoda made his Formula One debut in 2021 with Red Bull's AlphaTauri (now rebranded to Visa Cash App RB Formula One Team, described as "the worst team name in Formula 1 history" by one fan).
Tsunoda's rise to the top tier of motorsport has been remarkably fast. In just four years he progressed from competing in Japanese F4 to Formula 1.
The upcoming season has been described as "make-or-break" for the 23-year-old. After finishing 14th overall last year, he needs to perform exceptionally well on the grid to secure his seat for the future.
Tsunoda's estimated net worth stands at a cool $5 million (£3.9m). While his current Red Bull salary is a modest $1 million (£790k), he benefits from lucrative endorsement deals with brands including Honda and the Japanese skincare company Bulk Homme.
15. Nico Hulkenberg: $10 million (£7.8m)
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German driver Nico Hulkenberg made his F1 debut with Williams in 2010. Since then, he's raced with teams such as Aston Martin and Renault.
Despite being dropped by the latter in 2019, Hulkenberg impressed with successful stand-in drives in 2020 and 2022, leading to his full-time return to F1 with the Haas team in 2023.
The 36-year-old racer boasts an estimated total fortune of $10 million (£7.8m), with Celebrity Net Worth reporting he earned $2 million (£1.6m) from Haas last year. Like his fellow motorsport stars, he further bolsters his bank balances with the help of savvy endorsement deals and has reportedly worked with brands including Rolex and Puma over the years.
14. George Russell: $16 million (£12.5m)
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British driver George Russell made his Formula 1 debut with Williams in 2019. He would later score his first-ever F1 victory at the 2022 São Paulo Grand Prix, racing as part of the Mercedes team.
When racing for Mercedes last season, Russell secured eighth place overall. This earned him a salary of $4 million (£3.1m) and bonuses of $5 million (£3.9m), making the 25-year-old the eighth highest-paid Formula 1 star of 2023.
Russell's estimated net worth stands at an impressive $16 million (£12.5m). Off the grid, he makes more money thanks to partnerships with high-end brands, including Tommy Hilfiger and the luxe watch company IWC Schaffhausen.
13. Esteban Ocon: $21 million (£16.5m)
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French driver Esteban Ocon made his Formula 1 debut with Manor Racing Team (now known as Marussia) during the 2016 season. Throughout his career, he's competed with teams such as Force India and Alpine and is currently racing with the latter.
The 27-year-old sports star is estimated to be worth $21 million (£16.5m) and reportedly earns an annual salary of $3 million (£2.4m) with Alpine. However, much of his fortune is derived from a savvy endorsement portfolio and business interests.
Ocon has secured money-spinning deals with prestigious brands such as Microsoft and watchmaker Bell & Ross. He's also a part-owner of the esports team 77 Esports.
12. Lando Norris: $30 million (£23.5m)
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British driver Lando Norris made his Formula 1 debut in 2019 with McLaren. His impressive rookie season saw him score 11th place and narrowly miss out on a top-10 championship ranking.
The 24-year-old continues to wow on the grid, finishing sixth overall in the 2023 season. This earned him a $5 million (£3.9m) salary from McLaren and a hefty $10 million (£7.8m) in bonuses, making him the sixth-highest-paid F1 driver in 2023 according to Forbes.
In total, Norris is estimated to be worth $30 million (£23.5m). Off the track, he benefits from sponsorships with the likes of Bell Helmets and also owns Quadrant, a gaming and lifestyle brand.
11. Kevin Magnussen: $30 million (£23.5m)
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Danish racer Kevin Magnussen is a second-generation Formula 1 driver, following in the footsteps of his father Jan.
Kevin's legendary 2014 F1 debut with McLaren saw him become the first Dane to achieve a podium finish in a race. Magnussen transitioned to racing with Renault (now known as Alpine) in 2016, and currently competes as a member of the Haas F1 team.
The 31-year-old is estimated to be worth $30 million (£23.5m), with his fortune bolstered by a number of endorsement deals away from the grid.
10. Valtteri Bottas: $30 million (£23.5m)
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Finnish driver Valtteri Bottas made his Formula 1 debut with Williams in 2013. After accumulating points and podium finishes galore with Williams, Bottas was promoted to a coveted F1 spot at Mercedes in 2017, succeeding Nico Rosberg, who vacated the championship-winning seat.
Following a successful stint at Mercedes, Bottas joined the Alfa Romeo Racing team (now known as Kick Sauber) in 2022. So far, his impressive career has earned the 31-year-old a total estimated fortune of $30 million (£23.5m).
His juicy net worth is bolstered by lucrative endorsement deals with an array of Finnish brands, including the luxury private jet company InsiJets and sports accessories label Polar.
9. Pierre Gasly: $33 million (£25.9m)
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French driver Pierre Gasly entered the Formula 1 scene with AlphaTauri (then Toro Rosso) in 2017 and was promoted to the senior Red Bull Racing team in 2019. There, he was partnered with the young sensation Max Verstappen and, despite his commendable performance, Gasly faced challenges to keep up with Verstappen's pace.
After returning to AlphaTauri, Gasly moved to Alpine last season. In 2023, the 27-year-old earned a $5 million (£3.9m) salary along with $3 million (£2.4m) in performance bonuses, resulting in him being ranked the joint-9th highest-paid F1 driver of the season.
With an estimated net worth of $33 million (£25.9m), Gasly boosts his fortune with savvy endorsement deals. Notably, he has his own line of sunglasses with Hawkers and actively promotes the stylish accessories across his social media accounts.
8. Charles Leclerc: up to $50 million (£39.2m)
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Monaco-born driver Charles Leclerc made his F1 debut with Sauber in 2018. His epic performance on the grid during his rookie season earned him a coveted seat at Ferrari in 2019, and he remains with the prestigious team today.
The 26-year-old hotshot was the fifth highest-paid F1 driver in 2023, earning a grand total of $19 million (£14.9m) in salary and bonuses, pre-tax and pre-agent fees.
His total net worth is estimated at between $40 million (£31.4m) and $50 million (£39.2m), with his finances further boosted by various money-spinning endorsement deals. Most notably, Leclerc became the face of luxury fashion house Armani's Made to Measure line in 2020.
7. Carlos Sainz: up to $50 million (£39.2m)
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Spanish driver Carlos Sainz entered the world of Formula 1 with Toro Rosso in 2015 and would go on to have successful stints with teams such as Renault and McLaren. In 2021, he moved to Ferrari and continues to drive for the iconic team today.
In 2023, Sainz ranked as the seventh highest-paid F1 driver, earning $14 million (£11m) in salary and bonuses before taxes and agent fees. The bumper pay day came after he secured the seventh overall position in 2023's driver rankings.
The 29-year-old's estimated net worth is in the region of $50 million (£39.2m). Outside of his racing career, he has a lucrative sponsorship portfolio that includes brands such as PlayStation and Shiseido Men.
6. Lance Stroll: $50 million (£39.2m)
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Shortly after celebrating his 18th birthday, Canada's Lance Stroll made his F1 debut in 2017 with the Williams team. During his remarkable debut season, he impressed by becoming the youngest driver to achieve a podium finish during a rookie season.
In 2019, Stroll joined the Racing Point team, now known as Aston Martin. The team is owned by his father, billionaire businessman Lawrence Stroll, and, as a result, the young racer has faced accusations of nepotism despite his stellar performances.
The 25-year-old is estimated to be worth a substantial $50 million (£39.2m). In addition to his racing career, he benefits from endorsement deals with brands that reportedly include Bell Helmets and luxury watchmaker Tag Heuer.
5. Daniel Ricciardo: $50 million (£39.2m)
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Australian driver Daniel Ricciardo began his Formula 1 journey in 2011 with the HRT team, but achieved his real big break when he secured a seat on the Red Bull Racing team in 2014.
The 34-year-old Ricciardo has competed on behalf of various teams, including Renault and McLaren. However, he recently found his way back to Red Bull's AlphaTauri team and is set to compete with them in 2024.
The F1 icon is estimated to be worth $50 million (£39.2m). Throughout his career, he's enjoyed money-spinning endorsement deals with brands including Puma, GoPro, and Blue Coast.
4. Sergio Pérez: up to $75 million (£58.8m)
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Mexican driver Sergio Pérez made his F1 debut with Sauber back in 2011. The 34-year-old has gone on to race for several teams, including McLaren and Force India. He joined the Red Bull Racing family in 2021.
Last year, the talented Pérez ranked as the fourth highest-paid driver in F1, banking an impressive $26 million (£20.4m). A significant portion of that was thanks to the $16 million (£12.5m) he received in bonuses after finishing second in the driver's standings.
Estimates of his total wealth vary between $50 million (£39.2m) and $75 million (£58.8m). Like many of his peers, Pérez also grows his fortune through savvy sponsorships, which include acting as an ambassador for his home state, Jalisco.
3. Max Verstappen: $210 million (£164m)
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Dutch wonderkid Max Verstappen made his debut in 2015 with the Scuderia Toro Rosso team (now known as Visa Cash App RB Formula One Team) at the tender age of 17, becoming the youngest driver to ever compete in F1 at the time. He took the racing world by storm during his rookie season, and in 2016, at the age of 18, he became the youngest-ever F1 race winner.
After switching to the Red Bull Racing team in 2016, he continued to impress on the grid, ultimately becoming the F1 world champion in 2021. His epic victory solidified his place among the sport's most elite drivers, and he went on to win the title again in 2022 and 2023.
Unsurprisingly, he was the highest-paid driver in F1 in 2023, earning a staggering $70 million (£54.9m) in salary and bonuses pre-tax.
His estimated net worth is a mammoth $210 million (£164m), thanks to hefty endorsement deals with top-tier brands such as Heineken.
2. Fernando Alonso: $260 million (£203m)
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Two-time world champion Fernando Alonso made his F1 debut in 2001 with the Minardi team. Over the course of his epic decade-spanning career, the Spanish driver has raced for many teams, including Renault, McLaren, and Ferrari. He joined the Aston Martin team in 2023 after departing from Alpine.
At 42 years old, Alonso delivered impressive results in his first season with Aston Martin, finishing fourth in the driver standings. He was the third highest-paid F1 driver of 2023, earning a grand total of $34 million (£26.7m), pre-tax and agent fees.
His total net worth is estimated at $260 million (£203m), making him the second-richest driver in the game. Throughout his career, he's boosted his wealth by scoring endorsement deals with premium brands including Adidas and Tag Heuer.
1. Lewis Hamilton: up to $300 million (£235m)
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British racing legend Lewis Hamilton is recognised as one of the greatest F1 drivers of all time – and one of the richest!
Hamilton made his debut in 2007 with McLaren, narrowly missing out on a World Championship title in his rookie season. However, he clinched the win the following year, becoming the youngest-ever Formula One world champion at the time.
After several successful seasons with McLaren, Hamilton switched to Mercedes in 2013, going on to win six more World Championship titles with the team and cementing his status as an all-time great. Last year, he was the second-highest-paid driver in the sport, earning a salary of $55 million (£43.1m) with Mercedes.
At 39 years old, Hamilton is estimated to be worth up to $300 million (£235m), with that sum expected to skyrocket. After one final season with Mercedes in 2024, where he'll earn $65 million (£51m), Hamilton will switch to Ferrari in 2025, in a move that shocked the racing world when it was announced recently. His contract will see him earn almost double his current salary, banking a whopping $107 million (£84m).
In addition to his bumper salary, top-tier brands clamour to work with Hamilton. His enviable endorsement portfolio includes Bose, Electronic Arts, and Monster Energy.
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