Mick Schumacher’s Salary and Net Worth March 2024


First published:

Mick Schumacher is the son of the legendary, world champion Formula One driver Michael Schumacher. Racing runs in his veins and he has proved it from time to time on several occasions in Formula One and other events. He is one of the new Formula One drivers and often due to his lineage he leaves his fans and critics interested in his net worth and salary. This is why this article will discuss his net worth, salary, and some tidbits from his personal life and career.

Mick Schumacher's net worth March 2024


Mick Schumacher is a German driver and is among the new Formula One drivers. Despite being a newbie to the racing games, he has won several awards and positions. This has led him to have a net worth of a whopping $5 million.

Net worth

$5 Million

Salary from Haas

$1 Million




No reports to bee found-

Mick Schumacher's salary from Haas F1 (Team)


Several victories in Karting, F3, and F2 championships led Mick Schumacher to secure a seat in the Haas F1 team. He is reported to earn $1 million per year from the Haas team. This salary is excluding the bonuses and endorsements that Mick receives over the year.

Table of Contents

Watch this video to understand more about where Mich Schumacher will drive in 2023.

Mick Schumacher Endorsements

Mick Schumacher is a reserve driver for Ferrari and has been a part of the Ferrari Driving Academy since 2019. He has been sponsored by the same racing outfit brand that his father, Michael Schumacher was affiliated with.

Mick is also sponsored by a sports apparel brand, Under Armour, and a watchmaking brand named Richard Mille. Apart from that, he has several endorsements from brands like Schuberth, Web hosting company 1&1 Ionos, Ravenol, Deutsche Vermögensberatung, and more.

Key takeaways

  • Mick Schumacher is one of the new drivers in Formula One championships making his debut in the 2021 season only.
  • He is the son of the legendary Formula One driver Michael Schumacher.
  • Before making his debut in Formula One, Mick participated in and won several Karting championships, Formula 3 events, and Formula 2 events.
  • He has an estimated net worth of $5 million.
  • Mick drives for the Formula One team Haas with an annual salary of $1 million.
  • Mick made his debut in Formula One in 2021 and has not made a win in the championship yet.
  • He secured second position in the German Junior Karting championship, European championship, and world championship in 2014.
  • From the start of his career, Mick has secured 31 wins, 61 podium positions, 15 pole positions, and 18 fastest laps in karting, Formula 2, Formula 3, and Formula 1 championships.
mick schumacher net worth

Learn more about Mick Schumacher

Full NameMick Schumacher
Date of Birth22rd March, 1999
Weight67 kg

Being the son of a legendary father and a promising race driver himself, it is no wonder that fans and critics are as interested in  Mick Schumacher as they were in his father. Hence, let’s discuss some details about his early life and career highlights.

Early Life

Mick Schumacher also known as Mini Schumi was born on 22 March 1999 in Morges, Switzerland. He is the son of popular sporting parents Corrina Schumacher and Michael Schumacher. Corrina is a former European horse riding champion and Michael is a seven-time Formula One world champion.

Mick inherited his race-driving skills from his father and showed karting skills at the beginning of just three years. At the age of eight years old, he started participating in national karting competitions and enrolled himself as a kart driver by the age of nine. Whilst focusing on his driving career, Mick ensured to never missed any of his classes in school and keep his focus on his education as well.


Mick started Kart driving at the age of eight and was able to land himself in 7th and 9th places at the start of his career. However, in 2013 he was able to secure the third position in the German Junior Kart championship. It was from this position that his road toward fame began. He also came second in the International Junior Kart championship.

In 2015, Mick entered the Formula series and won third place in the upper Formula 2000 class in 2016. In 2018, Mick entered the European Formula 3 championship and emerged as a champion with fifty-seven points. It was from this victory that people knew that he would make a big one in no time.

On 19th January 2019, Mick was announced as a driver of Ferrari Driver Academy which upgraded him to become a Formula 2 driver. He secured his first victory in the Formula 2 championships in Hungary in the very same year. With his successive victories and records, he got his first test drive for Formula One on 2nd April 2019. He recorded a personal best time lap in that test drive and managed to come in as the sixth fastest driver. 

For the 2022 season, Mick remains a driver for the Formula One team, Haas, and also a reserve driver for the team Ferrari. However, he was not able to participate in the 2022 Saudi Arabian Grand Prix due to a severe car crash in the qualifying rounds.


  • Mick secured the 7th position in the KF3 class of ADAC Kart Masters in 2011 and a ninth position in the same category in 2012.
  • He came third in the German Junior Karting championship in 2013.
  • He secured second position in the German Junior Karting championship, European championship, and world championship in 2014.
  • He entered the FIA Formula 3 championships in 2017 and secured the third position in the competing debutant drivers category.
  • Mick secured his first win in the Formula 2 championships in Hungaroring in 2020.
  • Throughout his career, Mick has secured 31 wins, 61 podium positions, 15 pole positions, and 18 fastest laps.
  • He is known to be a big fan of luxury cars and owns four of them, each worth a million dollars.

Mick inherited his race-driving skills from his father and showed karting skills at the beginning of just three years.

Favorite quotes from Mick Schumacher

Here are some of the famous quotes by Mick Schumacher:

“We never stop working and learning.”

“Everyone evolves during the year.”

“Being compared to the best driver in F1 history is the goal you want to achieve, and to have that as my idol and father is very special.”

“If I go to the city, I’m happy that I’m free, that nobody knows who I am. I guess we have done a good job there in keeping the private life really private.”

“We have a lot of people in F1 who went through F3, and it is a point where you can show what you’ve got.”

“I am the son of my dad, and I am happy that I am.”

What else does he own?

Mick Schumacher is earning quite a handsome amount of wealth from Formula One racing and endorsements. Apart from that he also has a very rich father. Hence, it is inevitable that Mick would be owning some of the most expensive and luxurious things in the world. Down below, we have listed some of the luxury items he owns as a popular race driver and the son of a rich, legendary Formula One race champion.

Mich Schumacher Cars

Mick Schumacher owns four cars each worth millions of dollars. Here is a list of cars that he owns:

  • Bentley Continental GT
  • Ferrari 812
  • Aston Martin DB11
  • McLaren 720S

Mick Schumacher House

There are no reports of Mick owning houses or property. However, he lives in the grand estate of his father Michael Schumacher in Gland, Switzerland.

Mick Schumacher Boat/Yacht

There are no reports to be found of Mick Schumacher owning any boats or yachts.

Frequently asked questions

How much does Mick Schumacher earn in a year?

Mick Schumacher has a salary of $1 million per year.

How rich is Mick Schumacher?

Mick Schumacher has a net worth of $5 million.

How is Mick Schumacher so rich?

Mick Schumacher earns his money through race driving in the formula series. He also earns a handsome sum of money through different endorsements and sponsors. He has also inherited wealth from his father, Michael Schumacher.

Where did Mick Schumacher get his money?

Mick Schumacher got his money through race driving, endorsements, sponsors, and from his rich father.

Is Mick Schumacher a billionaire?

Mick Schumacher is not a billionaire as he does not have his net worth in billions of dollars yet. However, with his promising career in Formula One driving he will be a billionaire in no time.

Mick Schumacher's Net Worth Compared to other Formula 1 drivers

Mick Schumacher is a newbie to Formula One racing making his debut in 2021 only. He is the son of the legendary, seven-time Formula One champion, Michael Schumacher, hence, racing runs through his veins. He has proved this from time to time serving many victories in karting, Formula 3, and Formula 2 championships. 

When compared with the net worth of other drivers, Mick is certainly very far behind, standing in the 17th position. However, keeping in mind the timeline of his career, the seventeenth position is also a very good headstart to his career. You can read much more about the comparison between the net worth and salaties of other Formula One drivers here.

#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


Mick Schumacher hails from a family of sportsmen with his father, uncle, and cousin being motorsport drivers themselves. Over the course of his career, Mick has shown promising signs of him being a remarkable race driver, securing several wins and positions in karting, Formula 2, and Formula 3 championships. However, a win in the Formula One championship is yet to come.

He made his debut in Formula One in 2021 and has amassed a handsome amount of wealth from race driving, endorsements, and sponsors. Most of this has been possible due to his remarkable driving skills and also because he is the son of the legendary, seven-time Formula One championship winner, Michael Schumacher. Nonetheless, Mick has a long journey ahead of him to prove himself as another legendary Schumacher driver.

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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