Formula 1 is one of the most financially rewarding sports in the world. Over the years, elite drivers have earned vast sums through racing contracts, sponsorships, endorsements, and business ventures. Some have continued to grow their wealth long after retiring from the sport.
Based on net worth estimates published by GQ, here is a list of the Top 10 richest Formula 1 Drivers.
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Michael Schumacher – £472 million
Michael Schumacher tops the list as the richest Formula 1 driver of all time. His legendary career with Ferrari, highlighted by five consecutive world titles, made him a global icon. Endorsements, long-term partnerships, and racing success have secured his place at the top.
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Lewis Hamilton – £385 million
Lewis Hamilton is one of the most successful drivers in Formula 1 history, with seven World Championships. His earnings come from high-value contracts, major sponsorships, and investments outside racing. His move to Ferrari further strengthened his financial position.
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Fernando Alonso – £204 million
Fernando Alonso is one of the longest-serving members of the Formula 1 family, with 2 World Championships under his belt. Having raced for various top teams over a 20-year span, his financial success has been fuelled by multi-year contracts, endorsement deals, and his ongoing competitiveness.
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Niki Lauda – £157 million
Niki Lauda was a three-time World Champion in Formula 1 as well as having earned a significant reputation outside of racing through his successful business operations (airlines), authorship (books), and working in management in several of the F1 teams.
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Kimi Raikkonen – £143 million
Kimi Raikkonen received some of the highest salaries in the history of Formula 1 during his time with Ferrari. He is also known for his longevity and consistency, competing in both rally and NASCAR. His wealth has largely been generated through investments and his income from racing.
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Jenson Button – £117 million
2009 World Champion Jenson Button earned very lucrative contracts when he transitioned from Brawn GP to McLaren. Since retiring from full-time racing, Button has worked as a media personality and invested in many different types of businesses, growing his overall wealth.
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Sebastian Vettel – £109 million
Sebastian Vettel won four consecutive Formula 1 World Championships with Red Bull during the team’s dominant era. High-value contracts during his later years with Ferrari and Aston Martin significantly increased his earnings. He retired from Formula 1 in 2022.
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Mario Andretti – £101 million
Mario Andretti is considered among the best all-around racing drivers ever. He was successful racing in different types of cars such as Formula 1, IndyCar, NASCAR and endurance racing. He has been involved in racing for many years, which has helped him be financially secure since his reputation as an established racer will provide assets to continue being a financially successful individual.
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Eddie Irvine – £93 million
Eddie Irvine earned £93 million as a result of his efforts to build his financial portfolio, starting when he raced in Formula 1 from 1993 to 2002 with Ferrari and ending when he finished second in the World Championship (1999). After retiring from racing, Eddie Irvine spent less time focusing on racing and more time getting involved in business/real estate, while becoming a wealthier individual.
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Alain Prost – £78 million
Alain Prost earned £78 million as a four-time Formula 1 World Champion and one of the best technically skilled race car drivers ever. Alain Prost held the record for most Grand Prix wins for many years before it was broken. Alain Prosthas earned a fortune since he has been racing for a long period of time, and also has been able to maintain his wealth since he became a successful team owner and consultant after retiring from racing.
These drivers demonstrate how success in Formula 1 can translate into long-term financial achievement.
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