Formula 1 Legends Salaries and Net Worth 2024

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Formula 1 has a long and storied history, filled with legendary drivers and teams who have helped shape the sport into what it is today.

Throughout its existence, many of these legendary drivers and teams have enjoyed tremendous success on the track, racking up impressive win tallies and securing numerous championships. And while some of these legends are no longer competing in Formula 1, their legacies continue to live on through the incredible wealth and net worth that they have accumulated over the years.

So which Formula 1 legends can be considered some of the wealthiest individuals in all of the motorsports? Let’s take a look at some of the top earners, as well as their net worths and salaries.

Table of Contents

Watch this video to see the richest 1 drivers of all time.

F1 legends net worth (Hall of Fame)

Let’s take a look at some of the biggest names in Formula 1 history and their incredible net worths.

Max Verstappen net worth

Net worth: $200.000.000

Annual salary from Red Bull: $54 Million

Max Verstappen’s net worth is estimated to be $200 million, making him one of the richest drivers in Formula 1. He started racing at a young age and quickly rose up through the ranks. He’s currently driving for Red Bull where he earns a whopping $54 million in annual salary.

Despite being a relative newcomer to the sport, Verstappen has already racked up several impressive wins and championships, cementing his status as one of the greatest drivers of all time.

Nico Rosberg net worth

Net worth: $50.000.000

German racing veteran Nico Rosberg is worth an estimated $50 million. World Champion Nico Rosberg retired just five days after clinching the 2016 title at the Abu Dhabi Grand Prix. Nico Rosberg made $15-20 million per year at the height of his career.

Sebastian Vettel net worth

Net worth: $220.000.000

Salary: $18.000.000

Sebastian Vettel is another legendary driver who has enjoyed tremendous success in Formula 1. With four world championships under his belt, Vettel’s net worth is estimated to be $220 million, thanks in large part to his impressive annual salary of $18 million.

Despite some recent setbacks and a drop in results on the track, Vettel remains one of the top drivers in the sport and is still one of the highest paid individuals in all of motorsports. He’s expected to retire by end of 2022 season.

Jenson Button net worth

Net worth: $170.000.000

Jenson Button’s net worth is estimated to be about $170 million. As a race car driver, he has gone down in history books. When it comes to Formula One racing, he is one of the few gentlemen who has consistently ranked in the top ten for the past 17 years. His wealth consists of the millions he has earned from his career in Formula One racing.

Lewis Hamilton net worth

Net worth: $270.000.000

Salary from Mercedes: $40 Million

With a net worth of $270 million, Hamilton is one of the richest and most successful drivers in the sport. He currently earns an incredible $40 million per year from his driving duties at Mercedes, and shows no signs of slowing down anytime soon. 

With seven world championships to his name, there is no doubt that Hamilton will go down in history as one of the greatest drivers ever to compete in Formula 1.

Kimi Raikkonen net worth

Net worth: $250.000.000

Kimi Raikkonen is a well-known race car driver from Finland who has an estimated net worth of $250 million. As the most successful Finnish race car driver of all time, he holds the record of having won an incredible 21 Grand Prix events. In 2009, he was ranked by Forbes Magazine as the second highest-paid athlete in the world.

Fernando Alonso net worth

Net worth: $240.000.000

Salary from Alpine: $20 Million +

Fernando Alonso has an estimated net worth of $240 million, and he has earned a significant amount of his wealth from his career in Formula 1. He currently competes for the Alpine racing team, earning an annual salary of about $20 million, as well as numerous endorsements and sponsorship deals.

Mika Hakkinen net worth

Net worth: $50.000.000

Mika Hakkinen competed in Formula One from 1991 until 2001 and has a net worth of $50 million. In 1998 and 1999, he won the Formula One World Championship, making him one of only three Finnish drivers to do so. Hakkinen went to the Deutsche Tourenwagen Masters series in 2005, and then transitioned to driver management and brand ambassador.

Jacques Villeneuve net worth

Net worth: $50.000.000

Jacques Villeneuve has an estimated net worth of $50 Million. He made his debut with the Williams team and went on to race for BAR, Renault, and Sauber. Despite being primarily known for his racing career, he has dabbled in music on a lower scale. His debut song, “Accepterais-tu”, a French song, was released in 2006, followed by his debut album in 2007. 

Damon Hill net worth

Net worth: $30.000.000

Damon Hill is a retired British racing driver with a $30 million net worth. Damon’s racing career began in 1981, when he competed exclusively on motorcycles. Damon Hill formally resigned from the sport after the 1999 season, and he has since started various businesses and played guitar with a number of celebrity bands.

Michael Schumacher net worth

Net worth: $620.000.000

Michael Schumacher is a former racing driver from Germany with a net worth of $620 million. He is widely considered to be one of the greatest drivers in the history of Formula 1, having won seven world championships during his racing career. Although he retired from professional racing in 2006, he remains one of the wealthiest and most influential people in the sport.

Nigel Mansell net worth

Net worth: $90.000.000

Nigel Mansell is a British racing car driver who has a net worth of $90 million. Nigel is the sixth-most successful driver in Formula One history and the most successful British driver of all time, with 31 career race victories. He previously held the record for most poles in a single session, which was later broken by Sebastian Vettel in 2011.

Ayrton Senna net worth

Net worth: $100.000.000

Ayerton Senna is a legendary race car driver from Brazil who had a net worth of $100 million at the time of his death in 1994. During his career, he won three world championships, and was widely considered to be one of the fastest and most skilled drivers in the history of Formula 1 racing. After his tragic death at the age of 34, Senna’s legacy has continued to grow, making him one of the most iconic drivers in the history of the sport. He is one example of all deaths in F1.

Alain Prost net worth

Net worth: $100.000.000

Alain Prost is a retired race car driver from France with a net worth of $100 million. During his career, he won four world championships and competed for several notable teams, including Renault and Ferrari. He also founded Prost Grand Prix in 1997 and continued to compete occasionally until 2001. 

Keke Rosberg net worth

Net worth: $30.000.000

Keke Rosberg, a former racing driver from Finland has a net worth of $30 million. He competed in Formula 1 from 1978 to 1986, winning the world championship in 1982. After retiring from racing, Keke started a successful career as a business consultant and investment manager, and he remains active in motorsports as an advisor and commentator.

Nelson Piquet net worth

Net worth: $200.000.000

Nelson Piquet is a legebdary Brazilian race car driver with a net worth of over $200 million. During his career, he won three world championships and competed for several top teams, including Lotus and Brabham. He retired from racing in 1991, and since then he has remained active in business and other ventures. Today, Nelson Piquet is considered one of the most influential figures in motorsports history.

Alan Jones net worth

Net worth: $10.000.000

Alan Jones has na estimated net worth of $10 million. He was the driver for Williams F1 from 1978 to 1986 and for Haas Lola in 1987 and 1988. Jones is considered one of the greatest Australian drivers ever, having won the world championship in 1980. He retired at the end of 1986 season but has done some broadcasting work since then. Today, he remains a prominent figure in the sport and an iconic legend in Australian motorsports.

Jody Scheckter net worth

Net worth: $100.000.000

Jody Scheckter is one of the most successful drivers in the history of Formula 1 racing, with a net worth that is estimated at $100 million. He competed in Formula 1 from 1972 to 1980 and won the world championship in 1979, becoming the first South African driver to do so. Today, he remains a well-known figure in the racing world and an inspiration to new drivers everywhere.

Mario Andretti net worth

Net worth: $130.000.000

American race car driver Mario Andretti has a net worth of $130 million. He is a four-time IndyCar Series champion and the only driver to have won the Indianapolis 500, the Daytona 500, and the Formula One World Championship. He has also competed in NASCAR and USAC racing, as well as other top racing circuits around the world.

James Hunt net worth

Net worth: $40.000.000

James Hunt was one of the most successful drivers in the history of Formula 1 racing, with a net worth that is estimated to be around $40 million. He won the world championship in 1976 and was known for his aggressive driving style and wild partying off the track. Today, he remains an iconic figure in F1 racing and a beloved legend in the sport.

Niki Lauda net worth

Net worth: $200.000.000

Niki Lauda is a legendary racing driver with an estimated net worth of $200 million. He competed in Formula 1 from 1970 to 1985, winning the world championship three times and establishing himself as one of the all-time great drivers. After retiring, he went on to become a successful businessman, entrepreneur, and airline executive. Today, he remains an influential figure in racing and an inspiration to new drivers everywhere.

Emerson Fittipaldi net worth

Net worth: $59.000.000

Emerson Fittipaldi is a legendary racing driver with an estimated net worth of $59 million. He competed in Formula 1 from 1970 to 1980, winning the world championship twice and establishing himself as one of the most successful drivers of all time. He has also competed in IndyCar racing and NASCAR, among other top circuits, and is known as a true pioneer of motorsports.

formula 1 legends
Photo showing Kimi Raikkonen.

Net worths and salaries compared to today's Formula 1 drivers

If we look at the current Formula 1 drivers and how much they are earning compared to some of the all-time greats, it is clear that salaries have skyrocketed in recent years. Lewis Hamilton, who has won numerous world championships and consistently ranks at the top of the leaderboard, earns a whopping $40 million per year as part of his contract with Mercedes.

Soaring salaries are also seen in young drivers like Max Verstappen, who makes $25 million per year with Red Bull, and Charles Leclerc, who earns $12 million as part of his contract with Ferrari. Meanwhile, some older drivers like Fernando Alonso and Sebastian Vettel have also seen their net worths increase significantly over the years.

Comparing these numbers to the net worths of legends like Niki Lauda, Emerson Fittipaldi, and Mika Hakkinen, it is clear that Formula 1 drivers have experienced a dramatic shift in earning potential over time. 

#Read more about the drivers salary and net worthTeamSalary (USD $)Salary (EUR €)
1Max VerstappenRed Bull$55m€51.67m
2Lewis HamiltonMercedes$35m€32.88m
3Charles LeclercFerrari$24m€22.5m
4Lando NorrisMcLaren$20m€19m
5Carlos SainzFerrari$12m€11.27m
6Sergio PerezRed Bull$10m€9.39m
-Valtteri BottasAlfa Romeo$10m€9.39m
8George RussellMercedes$8m€7.5m
9Esteban OconAlpine$6m€5.63m
10Fernando AlonsoAston Martin$5m€4.69m
-Pierre GaslyAlpine$5m€4.69m
-Kevin MagnussenHaas$5m€4.69m
13Alex AlbonWilliams$3m€2.8m
14Lance StrollAston Martin$2m€1.9m
-Nico HulkenbergHaas$2m€1.9m
-Oscar PiastriMcLaren$2m€1.9m
-Nyck De VriesAlphaTauri$2m€1.9m
-Zhou GuanyuAlfa Romeo$2m€1.9m
19Logan SargeantWilliams$1m€950,00
-Yuki TsunodaAlphaTauri$1m€950,00

Conclusion

So, there you have it: the net worths and backgrounds of some of the most successful drivers in Formula 1 history. Whether you’re a lifelong racing fan or just getting into the sport, these legends are sure to inspire and ignite your passion for driving. 

From their incredible success on the track to their business ventures and other pursuits, these drivers are true icons of the racing world. We can all look to them for inspiration and motivation as we pursue our own goals in life.

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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