Top 5 Highest-Paid Formula 1 Drivers

Highest-Paid Formula 1 Drivers: Formula 1 is one of the most popular sports that involves billions of dollars. The adrenaline rushing sport grabs attention for its heated rivalries on the track, and even off the track sometimes.

The sports offer much thrill to the audience and the drivers deserve much credit for it. On that note, let us have a look at the top five highest-paid Formula 1 drivers.

Max Verstappen (Red Bull): $55 Million 

Max Verstappen has just won his fourth consecutive world title and justifies the salary he earns. His brilliance can be gauged from the fat paycheck he receives from Red Bull. The Dutch driver earns 55 million dollars per season which is the highest in Formula 1. He is contracted with Red Bull till 2028 which might see extension if both the parties agree. 

Lewis Hamilton (Mercedes): $45 Million 

Lewis Hamilton might have lost some sheen recently,  but still the seven-time world champion is one of the highest-paid F1 drivers. He earns $45 million as of 2024. Apart from his driving skills, the Brit is also known for his flamboyant nature and stylish aura. As a result, he enjoys an enormous fan following globally. 

Speculations are rife that next year when Hamilton will move to Ferrari  where he will reportedly be earning over $100 million per year.

Charles Leclerc (Ferrari): $34 Million 

The next name on the list of highest-paid Formula 1 drivers is Charles Leclerc of Ferrari. The Monegasque driver earns a whopping  $34 million a year. He is contracted with Ferrari until 2029 at the least. He is being considered as the future of Ferrari and it remains to be seen if he can clinch a world title. 

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George Russell (Mercedes) and Fernando Alonso (Aston Martin): $18 Million each

Both George Russell and Fernando Alonso are the joint fourth-drivers in the list of highest-paid drivers. Both earn $18 million in 2024.

26-year-old George Russell drives for Mercedes and is with the team until 2025. On the other hand, Fernando Alonso, 43, on the other hand, has driven on experience to earn a handsome paycheck. Alonso signed a multi-year renewal with Aston Martin in 2024, and will be with the team until the end of the 2026 season, which also put an end to his retirement speculations.