Damon Hill’s Salary and Net Worth March 2024

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First published:

62-year-old Damon Graham Devereux Hill is a former British F1 race car driver and the son of Graham Hill, two-time winner of Formula 1 World Champion in 1962 and 1968. He followed his father’s footsteps and won the F1 World Championship in 1996, marking his place in the history of F1, for his family to be the first ever father and son to have both won the F1 World Championship. With his devotion and passion, Hill has created a legacy of his own in the motorsports industry.

What was Niki Lauda net worth?

$ 30.000.000

Damon Hill, who retired in 1999, has a networth of $30 million. Most of his wealth is acquired through his racing. In the 1995 French Grand Prix, he won $500,000. Moreover, he also has endorsement deals with several big names. 

Net worth$ 30 million
Salary 

$ 5 million

Investments$ 5 million
Assets

Loans and liabilities

Damon Hill Salary

$ 5.000.000

Damon made his Formula One career debut with Brabham in 1992. He later moved on to various other teams like Williams, Jordon and Arrows. Hill has an estimated salary of $5 million annually. Furthermore, he won $500,000 in the French Grand Prix in 1995. 

Table of Contents

Watch this video to see Damon Hill’s EW18n Hot Lap.

Damon Hill Endorsements

Damon has had many endorsement deals over the years with big names like:

  • American bank MBNA,
  • Cellnet
  • Harrods
  • Italian watchmaker Lucien Rochat. 

He also has deals with Etihad Airways, Ricoh, AGV, and Etihad Airways and was also the brand ambassador of Pizza Hut.

He currently works as part of the Sky Sports F1 broadcasting team.

Key takeaways

  • Damon Graham Devereux Hill was born on 17 September 1960 to parents Graham Hill, two-time F1 World Championship winner, and Bette Hill in Hampstead, London.
  • He graduated through British Formula Ford and won six races in 1985. He also participated in the Formula Ford Festival in 1985 and took third place.
  • Damon Hill made his debut in Formula 1 when he was 31 years old. While still competing in the F3000 series, he was signed as Williams test driver in 1991. 
  • Hill took his first career pole in the French Grand Prix in 1993 and went on to win the Belgium Grand Prix and Italy Grand Prix, finishing the season by taking third in the Driver’s Championship.
  • He started off the 1996 season magnificently, winning the first three races. He went on to win five more races, eventually winning the World Driver’s Championship in the finale in Japan.
  • Over the course of his F1 career, Hill has been a part of various teams, winning a total of 22 races at 15 different circuits. He retired in 1999.
damon hill net worth

Learn more about Damon Hill

Damon Hill is a former English racing driver. Hill started his Formula One career in 1992 with the Brabham team and went on to win the 1996 World Champion while racing for Williams, making him the first son of a world champion father to earn the title. Damon Hill scored 22 wins and 20 pole positions during his eight years in Formula 1 as a driver for various F1 teams, including Williams and Arrow.

Full NameDamon Graham Devereux Hill
NationalityBritish
Date of BirthSeptember 17th, 1960
Height5ft 11in
Weight80kg
Salary$ 5.000.000

Early life

Damon Graham Devereux Hill was born on 17 September 1960 to parents Graham and Bette Hill in Hampstead, London. His father was a former F1 driver and had won the World Champion’s Title twice, in 1962 and 1968. His mother was also a sportswoman, a former rower and a medalist at the European Rowing Championships. He has two sisters, Samantha and Brigitte. He did his early education at The Haberdashers’ Aske’s Boys School. He suffered a major blow when his father died suddenly in a tragic plane crash in 1975. He started working as a laborer and a motorcycle courier to support his further education.

Early Career

He began his career in motorsports by competing in motorcycle races in 1981. Upon his mother’s insistence, he took a car racing course at the Winfield Racing School in France in 1983. He graduated through British Formula Ford and won six races in 1985. He also participated in the Formula Ford Festival in 1985 and took third place. He also competed in the lower-level British F3000 championship and the British Touring Car Championship.

Formula 1 Career

Brabham (1992)

While still competing in the F3000 series, he was signed as Williams test driver in 1991. During mid-season in 1992, he was given an opportunity to drive for the F1 team Brabham, replacing Giovanna Amati. Hill managed to qualify for two Grand Prix races, finishing 16th in his debut race and 11th in the Hungarian Grand Prix, which was the end of Brabham.

Williams (1993–1996)

(1993)

Despite only being a part of two Grand Prix, Damon was promoted into the Williams-Renault team, partnering with Alain Prost for the 1993 F1 World Championship. Even though the season did not start well for him, he progressed and continued to impress as the season went on. He was unable to win victories due to mechanical failures in some of the races. Hill took his first career pole in the France Gand Prix, finishing second to his team-mate. He went on to win the Belgium Grand Prix and Italy Grand Prix. He finished the season by taking third in the Driver’s Championship and earning the Constructors’ Championship title for his team, Williams.

(1994)

After the retirement of Prost, Ayrton Senna joined Williams to partner with Hill. He achieved a podium in the first two races of the season. Unfortunately, his teammate, Senna, died in a fatal car accident in the 1994 San Marino Grand Prix. Hill took the victory in the British Grand Prix and competed against his become his biggest rival, Michael Schumacher. Before the season’s last race, Australian Grand Prix Hill was just one point behind the German. However, none of the two finished the season closing, and Schumacher won the Driver’s Championship. He did win the BBC Sports Personality of the Year.

(1995 – 1996)

Hill started the 1995 season strongly by taking the pole position in the first race and two wins in the first three races. Over the season, the rivalry between Hill and Schumacher grew increasingly tense, resulting in penalties and one-race bans for both. Although Hill won four times, Schumacher took the World Championship title for the second time.

1996 marked Hill’s most successful season in F1. He was partnered with reigning Indycar champion Jacques Villeneuve. The British race car driver started off the season magnificently, winning the first three races. He further went on to win five more races in San Marino, Canada, France, and Germany and eventually won the World Driver’s Championship in the finale at Japan. At the age of 36, he set the record of being the first son of a World Champion to replicate his father’s success.

The World Championship title earned him his second BBC Sports Personality of the Year Award.

Arrows (1997)

Unfortunately, at his peak, Williams decided to replace him with Heinz-Harald Frentzen for the 1997 season. He signed to drive for Arrows for the 1997 season. The Arrow’s car was highly uncompetitive, making scoring points all the more difficult. He began the season with a poor start and scored his first points for the team in the British Grand Prix. He performed best in the Hungarian Grand Prix and finished the season by taking second place, making it Arrow’s best F1 finish. 

Jordon (1998 – 1999)

He signed up for the F1 team Jordon for the 1998 season. He was partnered with the younger brother of Michael, Ralf Schumacher. It proved to be an overall poor season, and he managed to score his first points in the German Grand Prix. In the Belgium Grand Prix, Hill led team-mate Ralf Schumacher in a famous Jordan 1-2 – a breakthrough win for the UK-based team.

1999 was the start of what looked like his last year in motorsport, and he announced his retirement after failing to finish the French Grand Prix; however, his team insisted he stay till the British Grand Prix, where he finished fifth and decided to finish the remaining season. His best finish was sixth place in the Hungary Grand Prix and Belgium Grand Prix. His last race was the Japanese Grand Prix, where he failed to perform due to mental fatigue.  

Hill took his first career pole in the French Grand Prix in 1993 and went on to win the Belgium Grand Prix and Italy Grand Prix, finishing the season by taking third in the Driver’s Championship.

Highlights

  • He began his career in motorsports by competing in motorcycle races in 1981.
  • Damon Hill made his debut in Formula 1 when he was 31 years old. While still competing in the F3000 series, he was signed as Williams test driver in 1991. 
  • Hill qualified for two Grand Prix races, finishing 16th on his debut and 11th in the Hungarian Grand Prix in 1992 while racing for Brabham.
  • Hill took his first career pole in the French Grand Prix in 1993 and went on to win the Belgium Grand Prix and Italy Grand Prix, finishing the season by taking third in the Driver’s Championship.
  • Hill took the victory in the British Grand Prix in 1994. Before the season’s last race, Australian Grand Prix Hill was just one point behind his biggest rival, Michael Schumacher. 
  • Hill started the 1995 season strongly by taking the pole position in the first race and two wins in the first three races.
  • He started off the 1996 season magnificently, winning the first three races. He further went on to win five more races, eventually winning the World Driver’s Championship in the finale in Japan.
  • While driving for Arrows, he gave his best performance of the year in the Hungarian Grand Prix 1997 and finished the season by taking second place.
  • In 1998 Hill managed to score his first points in the German Grand Prix.
  • In 1999 his best finish was taking sixth place in the Hungary Grand Prix and Belgium Grand Prix. His last race was the Japanese Grand Prix, where he failed to perform due to mental fatigue. 
  • Throughout his F1 career, Hill has won 22 races at 15 different circuits and the World Championship title in 1996.

Favorite Quotes From Damon Hill

The British gentlemen have said some wise sayings during the years. Here is a list of favorite quotes by Damon Hill.

  • “I have always liked a challenge.”
  • “If I am pushed I will push back, that is the way I am. I am very British. We don’t like to be pushed around. When the chips are down we might have to step into grey areas.”
  • “The British tend to shy away from the spotlight. We don’t like being singled out in any way, and I think that is something which is important for me to learn to do.”
  • “If I am treated fairly, I like to do things in a fair manner. That is the way I have been all my career. I haven’t tried to do things in an underhanded way.”
  • “The problem comes when you say that danger is part of the equation. Then you don’t do any more work on safety. That shouldn’t happen.”
  • “I try to keep myself on an even keel by trying to be as critical of myself as I am of other people. I try to separate my performance from myself.”
  • “Winning is everything. The only ones who remember you when you come second are your wife and your dog.”
  • “Winter testing is essential but there comes a point where you have had enough of all the rehearsals and the pretend racing. You just want to get down to the real action.”
  • “Time with the family is extremely precious and important to me, and I try and spend as much time at home as possible.”

Damon Hill Personal Life

Damon Hill is married to Susan George. The couple tied the knot in 1988 and have four children together, Oliver, the eldest, who has Down syndrome; Joshua, Tabitha; and the youngest, Rosie. Hill and his wife are both contributors to the Down’s Syndrome Association.

What else does he own?

After retirement, Hill built and launched many companies before becoming President of the British Racing Drivers’ Club in 2006.

Over the years, he has played with several bands because of his love for music.

He is currently one of the investors in Zero Petroleum, the British technology company that produces net zero synthetic fuels, along with being part of the commentating team for Sky Sports Formula 1.

Damon Hill Cars

Although he likes cars, Hill has always preferred motorcycles. Some of his dream cars are Porsche 956, Ferrari 512 and the iconic Lotus Cortina.

Damon Hill House

The former British Formula 1 driver, along with his wife and four children, currently live in a mansion in England. He previously lived in a 6-bedroom house in Ireland.

Damon Hill boat/yacht

Even though he loves boats, water and anything to do with the sea and has also enjoyed riding a Honda Formula 4-Stroke Powerboat, he does not own any boat or yacht.



Damon Hill Charity

Damon Hill is a part of the Down’s Syndrome Association and St. Joseph’s Specialist School and College, a school for kids with profound learning disabilities and autism in Cranleigh, Surrey.

He has also taken part in the Two Boats Cycle to raise money for the Halow Project, a charity organization in the UK.

Frequently asked questions

How much did Damon Hill earn in a year in F1?

Damon Hill, former British F1 World Champion and son of Graham Hill, two-time winner of the F1 World Championship title, earns $5 million annually.

How rich is Damon Hill?

Damon Hill, a retired Formula 1 driver, having been a part of various F1 teams, has a net worth of $30 million.

Why is Damon Hill so rich?

Damon Hill won the F1 World Championship in 1996 and currently has a net worth of $30 million. Most of his wealth is acquired from his career as an F1 driver and through various endorsements.

Where did Damon Hill get his money?

Damon Hill was an F1 driver from 1992 to 1999. He has gained wealth from his F1 career along with many endorsement deals with big brands such as Harrods, American Bank and Etihad Airways.

Is Damon Hill a billionaire?

Damon Hill, former 1996 F1 World Champion, has a net worth of $30 million, making him a millionaire, not a billionaire.

Damon Hill net worth compared to active Formula 1 drivers

Damon Hill has a net worth of $30 million and an annual salary of $5 million, which makes him at the lower end of the current pay scale of active F1 drivers. Compared to F1 drivers like Lewis Hamilton and Max Verstappen, Hill’s salary is low but is higher than current drivers such as Nicolas Latifi and Yuki Tsunoda.

Damon Hill net worth compared to former Formula 1 drivers

Having a net worth of $30 million, if compared to some former F1 drivers, Hill has a relatively low net worth. For instance, the former French driver and his partner in Williams in 1993, Alain Prost, has a networth of $185 million, and Jenson Button, the former British race car driver, has a net worth of $185 million. Moreover, his biggest rival has a whooping net worth of $600 million, which is very high compared to Damon Hill’s $30 million.

Conclusion

Damon Hill, Formula One World Champion of 1996 and winner of 21 Grands Prix, has an impressive motor racing career. Even though he started late, he has managed to be a part of several teams like Williams, Arrows and Brabham. He holds the record of being the first ever father and son to have both won the F1 World Championship. From working as a dispatch rider in London to becoming F1 World Champion, Hill has managed to mark his name in the motorsport industry.

Article sources

Lisette Holm
Lisette Holm
Lisette Holm is a Formula 1 expert who has not missed a single Grand Prix in the last 4 years. She is one of the founders and her job at Formulapedia.com is to educate others who are interested in F1 in order to raise their level of knowledge. Lisette cheers on Mercedes AMG-Petronas.

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