Top 10 richest F1 Team Owners 2024 (net worth)

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In the sport of Formula 1, team owners play a vital role, acting as both the rudder and the engine of the teams they lead.

Today, we’re embarking on a thrilling journey through the world of the richest and wealthiest F1 team owners.

Let’s go!

Table of Contents

Watch this video to learn more about the richest team owners in Formula One.

10. Toto Wolff

Toto Wolff is an integral part of the F1 landscape, known for his shrewd business acumen and decisive leadership.

Brief Biography

Born in Vienna, Austria, Wolff started his career in the finance sector. His love for motorsport led him to become an active racing driver before transitioning to the management side.

F1 Team Ownership Details

Wolff initially invested in Williams F1, acquiring a significant stake. However, his major breakthrough came in 2013 when he joined Mercedes-AMG Petronas Formula One Team. He’s not just the team principal but also owns 30% of the team.

Wealth Details

  • Estimated Net Worth: $1.1 billion
  • Primary sources of wealth: Finance, Motorsport Management

9. Vijay Mallya

Controversial, charismatic, and undeniably influential – that’s Vijay Mallya for you, a man whose name is intertwined with both the liquor industry and the world of F1.

Brief Biography

Mallya, born and raised in India, hails from a family with an extensive background in the liquor business. Despite facing various legal challenges, he has managed to make a significant mark in the F1 industry.

F1 Team Ownership Details

In 2007, Mallya, alongside a consortium of investors, purchased the Spyker F1 team and rebranded it as Force India. The team, later rebranded as Racing Point and now Aston Martin, achieved substantial success under his stewardship.

Wealth Details

  • Estimated Net Worth: $1.2 billion (pre-legal issues)
  • Primary sources of wealth: Liquor Industry, Airlines

8. Lawrence Stroll

A financier by profession, Lawrence Stroll made his fortune in fashion before investing in the adrenaline-fueled world of F1.

Brief Biography

Stroll, born in Montreal, Canada, started his journey as an investor in Pierre Cardin and Ralph Lauren’s fashion lines. His acumen led him to immense wealth, which he then ventured into the high-stakes world of F1.

F1 Team Ownership Details

In 2018, he led a consortium that rescued Force India from administration, rebranding it as Racing Point. His son, Lance Stroll, secured a place in the team, and they’ve been making steady progress since, including a victory at the 2020 Sakhir Grand Prix.

Wealth Details

  • Estimated Net Worth: $2.6 billion
  • Primary sources of wealth: Fashion, Investments

7. Gene Haas

In the world of CNC machinery, Gene Haas is a name of reverence. His love for speed, however, catapulted him from machinery to the exciting world of F1.

Brief Biography

Born in Youngstown, Ohio, Haas found his calling in the manufacturing industry, founding Haas Automation, a CNC machine tools manufacturer. But Haas, a man of speed, wasn’t satisfied with stationary machines.

F1 Team Ownership Details

He established the Haas F1 Team in 2016, making it the first American-led F1 team since 1986. The team has showcased a slow but steady performance, with an aim for sustainable growth rather than overnight success.

Wealth Details

  • Estimated Net Worth: $3.2 billion
  • Primary sources of wealth: Manufacturing, Racing Teams

6. Mansour Ojjeh

Mansour Ojjeh is a name embedded in F1 history. His longevity and influence on the sport are hard to understate.

Brief Biography

Born into wealth, the French-Saudi Arabian businessman’s fortune began with his father’s company, TAG (Techniques d’Avant Garde), dealing in high-tech and luxury goods.

F1 Team Ownership Details

Ojjeh bought into McLaren in 1984, leading the team to several championship titles and solidifying their status as an F1 juggernaut.

Wealth Details

  • Estimated Net Worth: $3.2 billion
  • Primary sources of wealth: High-tech, Luxury Goods

5. Michael Latifi

Michael Latifi, a self-made tycoon, transitioned from the food industry to the fast lane of F1 racing.

Brief Biography

Born in Iran but now a Canadian citizen, Latifi accumulated his wealth through Sofina Foods Inc., one of Canada’s largest food distributors.

F1 Team Ownership Details

Latifi is a significant shareholder in McLaren Technology Group. His son, Nicholas Latifi, races for Williams, making the Latifi influence widespread in F1.

Wealth Details

  • Estimated Net Worth: $3.3 billion
  • Primary sources of wealth: Food Industry

4. John Malone

The name John Malone often rings bells in media circles, where he’s considered a titan. Yet, his expansive portfolio also includes the roar of F1 engines.

Brief Biography

Hailing from Connecticut, Malone’s empire burgeoned in the media industry, specifically cable and broadcasting. His expansion into F1 stems from an interest in sports investments.

F1 Team Ownership Details

Malone, through his company Liberty Media, acquired Formula One Group in 2017. With this acquisition, he indirectly oversees all teams, although his direct influence is limited.

Wealth Details

  • Estimated Net Worth: $7.1 billion
  • Primary sources of wealth: Cable, Broadcasting

3. Dmitry Mazepin

Dmitry Mazepin, a figure often surrounded by controversy, has made waves in both the chemical industry and the F1 racing scene.

Brief Biography

Born in Belarus and later moving to Russia, Mazepin is a titan in the Russian chemical industry, owning Uralchem Integrated Chemicals Company.

F1 Team Ownership Details

Mazepin bought a majority stake in the Haas F1 Team in 2020. His son, Nikita Mazepin, has secured a driving position in the team.

Wealth Details

  • Estimated Net Worth: $7.1 billion
  • Primary sources of wealth: Chemical Industry

2. Silvio Berlusconi

Silvio Berlusconi – a man of many hats. Known as a media tycoon, former Prime Minister of Italy, and now, an F1 team owner.

Brief Biography

Born in Milan, Italy, Berlusconi built a media empire that made him one of Italy’s richest and most influential figures. His interest in sports investments led him into the thrilling world of F1.

F1 Team Ownership Details

Berlusconi purchased a significant stake in the Monza-based team, Scuderia AlphaTauri, through his company Fininvest. The team, once seen as Red Bull’s ‘junior team,’ has now started to make its mark under Berlusconi’s ownership.

Wealth Details

  • Estimated Net Worth: $8.5 billion
  • Primary sources of wealth: Media, Investments

1. Dietrich Mateschitz

Austrian businessman Dietrich Mateschitz, the co-founder of Red Bull, takes pole position in our list of the wealthiest F1 team owners.

Brief Biography

Mateschitz, hailing from Styria, Austria, turned a simple energy drink into a worldwide phenomenon – Red Bull. His success in the beverage industry provided the capital necessary to fuel his true passion – extreme sports, and more specifically, F1.

F1 Team Ownership Details

He bought Jaguar Racing from Ford in 2004, rebranding it as Red Bull Racing. The team has been extraordinarily successful under his leadership, with multiple constructors’ championships and some of the most talented drivers gracing its ranks.

Wealth Details

  • Estimated Net Worth: $26.9 billion
  • Primary sources of wealth: Red Bull, Extreme Sports Franchises

Richest F1 team owners

RankOwner’s NameF1 TeamNet Worth
1Dietrich MateschitzRed Bull Racing$26.9 billion
2Silvio BerlusconiScuderia AlphaTauri$8.5 billion
3Dmitry MazepinHaas F1 Team$7.1 billion
4John MaloneLiberty Media (F1 Group)$7.1 billion
5Michael LatifiMcLaren$3.3 billion
6Mansour OjjehMcLaren$3.2 billion
7Lawrence StrollAston Martin$3.2 billion
8Gene HaasHaas F1 Team$3.2 billion
9Vijay MallyaAston Martin$1.2 billion
10Toto WolffMercedes-AMG Petronas$1.1 billion

How Team Owner’s Wealth Influences F1

F1 is a sport where every microsecond counts. The fusion of human talent and mechanical marvels decides the difference between victory and defeat. But what role does wealth play in this equation?

Direct Influence

The impact of wealth on F1 is as clear as day. With deeper pockets, team owners can acquire top-tier drivers, invest in advanced technology, and facilitate more extensive testing. As they say, speed comes at a price, and in F1, that price can run up to millions of dollars.

Just consider how Mercedes has dominated the sport over the past decade. Their success can be traced back to significant investments in the best talent (hello, Lewis Hamilton!) and cutting-edge technology. In other words, cash doesn’t just talk; it roars!

Indirect Influence

The influence of wealth isn’t limited to the racetrack, though. It extends to more subtle aspects like infrastructure development, marketing, and even team morale.

Money can afford state-of-the-art training facilities, more staff, and better resources for the team. It also boosts marketing efforts, attracting better sponsorship deals, which, in turn, brings in more revenue. And let’s not forget the morale boost that a well-funded team enjoys, allowing them to focus solely on performance rather than financial worries.

Read more about the richest Formula 1 teams.

Article sources

Anton Gustafsson
Anton Gustafssonhttps://formulapedia.com
Anton is a Swedish Formula One expert and he is the co-founder of Formulapedia.com. He is a big fan of Formula 1 and he cheers for the Italian team Scuderia Ferrari. Anton has not missed a single Grand Prix since he started following F1 a few years ago.

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