Top 10 Richest Formula 1 Drivers on the Current Grid

The high-speed world of Formula 1 isn't just about skill and speed; it's also a realm of immense wealth. The top drivers on the current grid have amassed substantial fortunes through their racing contracts, endorsements, and personal ventures. 

These drivers not only dominate the racetrack but also command significant financial empires, showcasing their success both on and off the track. In this listicle, we explore the top 10 richest Formula 1 drivers of the current grid, delving into their net worth, lucrative deals, and the financial accolades that place them among the elite in the sport. Discover who tops the list and how their fortunes compare in the glamorous world of Formula 1 racing.

#10. Valtteri Bottas, Kevin Magnussen, Lando Norris (30 million USD)

Kevin Magnussen, Valtteri Bottas, and Lando Norris all reportedly share the 10th spot on the list of richest Formula 1 drivers, each boasting an estimated net worth of $30 million. Norris, a new entry in 2024, recently appeared on the Sunday Times Rich List in the UK for the first time, reflecting the positive impact of his McLaren salary. 

Bottas, with his steady career and valuable endorsements, and Magnussen, known for his consistent performances and sponsorship deals, round out this trio. Their impressive fortunes highlight their success both on the track and in leveraging their racing careers into substantial wealth.

#9. Pierre Gasly (33 million USD)

Pierre Gasly, currently driving for Alpine, has an estimated net worth of $33 million. Gasly's wealth stems from his impressive career in Formula 1, including stints at Toro Rosso and Red Bull. His current deal with Alpine is set to conclude in 2024. 

However, there is an option for the 2020 Italian Grand Prix winner to extend his contract into 2025. According to Forbes, Gasly earned $8 million with Alpine last season, underscoring his financial success in the sport. As Gasly continues to compete at the highest level, his net worth reflects both his talent and marketability in the world of Formula 1 racing.

#8. Carlos Sainz (47 million USD)

Ferrari driver Carlos Sainz has reportedly amassed a net worth of $47 million during his Formula 1 career, according to Spanish publication Marca. The Spanish driver, who has been in F1 since 2015, celebrates his 10th year in the sport this year. 

Sainz's current deal with Ferrari places him on similar financial terms with his teammate Charles Leclerc, reflecting his impressive performances alongside him. Known for his consistency and skill, Sainz has not only solidified his position as a top driver but also significantly increased his wealth, making him one of the notable earners on the F1 grid.

#7. Lance Stroll (50 million USD)

Lance Stroll, son of Aston Martin team owner Lawrence Stroll, has carved out his path to financial success in Formula 1. Despite the advantages of his family background, Lance has amassed an impressive net worth of $50 million independently. 

This substantial fortune comes from a combination of his salary as an F1 driver and lucrative sponsorship deals. His career in Formula 1 has seen him not only benefit from the team's resources but also capitalize on his talent and marketability, securing significant endorsements. Lance Stroll's financial success highlights his ability to establish himself as a wealthy and influential figure in the world of motorsports.

#6. Charles Leclerc (50 million USD)

Charles Leclerc, one of F1's highest-paid drivers, earned a reported $19 million last year, with his income expected to rise to $25 million in 2025 after signing a new deal with Ferrari. His impressive earnings have significantly boosted his net worth, placing him high on the list of wealthy F1 drivers. 

Beyond racing, Leclerc enjoys a growing collection of luxury cars and indulges in various hobbies. His long-term commitment to Ferrari and continued success on the track suggest his net worth will keep climbing, solidifying his position among the richest in the sport.

#5. Sergio Perez (75 million USD)

Sergio Perez has significantly boosted his earnings in Formula 1 through numerous personal sponsors, including Telmex and Telcel, making him one of the sport’s highest earners. According to Forbes, Perez earned a reported $26 million in 2023 alone. His role in Red Bull’s recent successes has likely contributed to substantial bonuses, further increasing his net worth. 

Despite his ability to attract sponsorship income, Perez is far from being a 'pay driver'; his talent and contributions to his teams underscore his standing as a top-tier driver. His financial success reflects both his on-track achievements and savvy off-track partnerships, cementing his status among the wealthiest in Formula 1.

#4. Daniel Ricciardo (96 million USD)

Daniel Ricciardo ranks among the top five richest Formula 1 drivers by net worth, thanks to his marketability and successful career since his debut in 2011. Ricciardo's wealth stems from numerous personal sponsors, his own wine brand, clothing line, and substantial salaries from his stints with Renault and McLaren. 

His net worth saw a significant boost in 2022 when McLaren paid out his contract early, with CEO Zak Brown admitting the team had to "write a big cheque" to the Honey Badger. Although his current earnings at Visa Cash App RB are reportedly lower than his previous deals, Ricciardo's diversified income streams ensure he remains financially secure with a substantial net worth.

#3. Max Verstappen (210 million USD)

As of early 2024, Max Verstappen's net worth is estimated to be around $210 million, reflecting his skyrocketing value since winning his first World Championship in 2021. Forbes named him the highest-paid F1 driver in 2023, earning a reported $70 million, including bonuses, following a record-breaking season that led to his third World title. 

Living in Monaco, Verstappen benefits from a tax-free income environment. Beyond Formula 1, Verstappen is establishing his own GT team, Verstappen.com Racing, aiming for a full launch by 2025. He also has vested interests in Team Redline, a leading sim racing team, where he actively participates in online races during his downtime.

#2. Fernando Alonso (260 million USD)

Ranked at number two is Fernando Alonso, a double World Champion whose illustrious career spans two decades in motorsport. With a reported net worth of $260 million, Alonso's lucrative salary reflects his enduring success at the pinnacle of racing. Beyond Formula 1, Alonso has contributed significantly to Aston Martin's vitality and invested in his native Asturias by funding and inaugurating the Fernando Alonso Sports Complex. 

This multi-faceted facility boasts a museum showcasing his career achievements alongside a karting circuit for aspiring racers. Alonso's forward-thinking extends to founding A14 Management, an agency aimed at nurturing young talent with aspirations of reaching Formula 1, solidifying his legacy as both a racing icon and a visionary mentor.

#1. Lewis Hamilton (285 million USD)

Lewis Hamilton, the seven-time World Champion, stands atop the list of current Formula 1 drivers with an estimated net worth of approximately $285 million, according to various sources. Hamilton's journey from humble beginnings, with his father Anthony working multiple jobs to fund his early racing career, exemplifies his remarkable rise to success. 

Also Check: Top 5 expensive things owned by Lewis Hamilton

Today, Hamilton's immense wealth not only reflects his dominance on the track but also his ventures beyond racing. Through initiatives like Mission 44 and the Hamilton Commission, he strives to promote diversity and inclusion in motorsport, aiming to empower individuals from under-represented backgrounds. Hamilton's net worth symbolizes not only his financial prosperity but also his commitment to making a positive impact beyond the racetrack.