Top 10 Richest F1 Drivers

Formula 1 isn't just about high-speed races and championship titles. It's also where some of the richest athletes have built their wealth. Check out how these top drivers have turned their success on the track into incredible fortunes. This list features the top 10 richest F1 drivers of all time.

10. Alain Prost - $100 million

Alain Prost, the renowned French Formula One driver and four-time world champion, has a net worth estimated at $100 million as of 2024. His earnings primarily came from his racing contracts and endorsements over a lengthy career with teams like McLaren, Renault, Ferrari, and Williams12. After retiring, Prost bought the Ligier team in 1997 and renamed it Prost Grand Prix. However, the team faced financial problems and closed in 2002. 

9. Eddie Irvine - $120 million

Eddie Irvine, a former British racing driver, has a net worth of $120 million. His wealth primarily stems from a combination of his successful Formula One career and lucrative business ventures. Irvine's racing career saw him earn significant income, especially during his time with Ferrari in the '90s. His most successful year was 1999 when he won four races and finished as the runner-up in the Formula One World Championship. In addition to his racing earnings, Irvine became a millionaire through property investment even before reaching Formula One as per Wikipedia. He has a multi-million-dollar real estate portfolio, owning around 40 properties worldwide. In 2020, he purchased a waterfront home on the Venetian Islands for $7.6 million. The following year, he sold another waterfront property in the same area for $17.1 million. Additionally, in 2021, Irvine acquired a waterfront home on Hibiscus Island for $10.5 million, with plans for renovation. He is also the owner of Eddie Irvine Sports, a facility in Bangor near his hometown of Conlig, offering activities such as snooker, pool, kart racing, paintballing, and football.

8. Mario Andretti - $132 million

Mario Andretti, with a net worth of $132 million, is one of the wealthiest and most accomplished race car drivers in history. His career spanned multiple racing series, where he achieved significant success, including wins in Formula One, IndyCar, NASCAR, and World Sportscar Championship. He earned substantial prize money from his victories, particularly the 1969 Indianapolis 500 and the 1978 Formula One World Championship. Over the years, Andretti's wealth grew not only from his racing career but also from various endorsement deals with companies like Texaco, Firestone, and Magnaflow. After retiring, Andretti expanded his wealth through investments in multiple ventures. He co-owns Andretti Winery in Napa Valley, where he serves as vice chairman, and has a Toyota dealership in Moon Township, Pennsylvania. He also owns car washes, a car-care product line, and go-kart tracks. 

7. Sebastian Vettel - $140 million

Sebastian Vettel, a German Formula One driver, has a net worth of $140 million as of 2024. His wealth comes from a highly successful career, including four World Championships from 2010 to 2013 with Red Bull Racing. In 2009, the contract he signed with Red Bull Racing was worth $34.6 million and included an average annual salary of $8.6 million as per Sportrac. In 2013, he signed a two-year $48 million extension which came with a $24.3 million annual salary. 

The four-time Formula One world champion in 2015 switched to Ferrari racing where he signed two contracts with a tenure of three years. The first contract was worth $92 million with an average annual salary of $30 million. The three-year extension which started in 2018 came with a bump of $150 million value and an annual payout of $50 million. In 2021, Sebastian joined the Aston Martin F1 team on a two-year contract however specific details remain unknown.

Alongside his racing salary, he has boosted his earnings through endorsement deals with brands like Shell and Casio. Apart from this, Vettel’s car collection houses some of the exclusive cars such as the Ferrari F50 and Ferrari Enzo worth $3.5 million each.

6. Jenson Button - $150 million

Jenson Button, a former British Formula One driver, has a net worth of $150 million, thanks to a successful racing career, endorsement deals, and strategic investments. During his prime with McLaren, Button earned an annual salary of $16.5 million. Over his career, he competed in 306 Formula One races, securing 15 wins and 50 podium finishes, including a World Drivers' Championship in 2009 with Brawn GP. Button earned a total of $161 million during his Formula One career, according to Spotrac. Button is now an ambassador for Williams Formula 1 Racing, the team he debuted with. He also partnered with numerous brands, like Santander, Armor All, Hilton, Hugo Boss, Tag Heuer, Vodafone, Baylis & Harding, Hackett London, and Rolex Testimonee. Beyond racing, Button has made diverse investments. He co-founded Radford Motors, Coachbuilt Whisky, and Blue Coast Brewing. He has also invested heavily in real estate. In 2017, he purchased a home in Brentwood, LA, for $6.1 million, which he sold for a slight profit. In 2019, he bought a mansion in Bel-Air for just under $9 million, later listing it for $10.5 million. He also flipped a Palm Springs home for $3.55 million after paying under $1 million for it in 2020.

5. Niki Lauda - $200 million

Niki Lauda, an Austrian Formula One legend, had a net worth of $200 million at the time of his passing in 2019. His wealth came from a combination of racing success, business ventures, and strategic roles in Formula One. Lauda earned millions during his career, with contracts like his $1 million annual salary with Brabham-Alfa Romeo in 1978, which is equivalent to $4 million today, and $3 million per year with McLaren in the 1980s, which would be around $12 million today, as per Celebrity Net Worth. Over his career, he won three Formula One World Championships and entered 171 races, with 25 victories. 

Beyond racing, Lauda amassed significant wealth as an entrepreneur. He founded three airlines during his career. Lauda Air merged with Austrian Airlines, while Niki, launched in 2003, was sold to Air Berlin in 2006. After Air Berlin’s insolvency in 2017, Lauda reacquired Niki’s assets in 2018 for $24 million, briefly revived it, and sold it to Ryanair. In the same year, he rebranded Amira Air as Laudamotion, which Ryanair acquired a 75% stake in. By 2020, Laudamotion was phased out, and its assets were transferred to Lauda Europe. He also held a 10% stake in the Mercedes Formula One team, further boosting his fortune.

4. Kimi Räikkönen - $250 million

Kimi Räikkönen, a Finnish Formula One legend, has a net worth of $250 million. Known as the "Iceman" for his calm demeanor, Kimi earned over $50 million annually at his peak and appeared on Forbes' list of highest-paid athletes in 2015. He signed several contracts during his Formula 1 career. 

In 2005, Kimi Räikkönen signed a 1-year, $19 million contract with McLaren, with an average annual salary of $19 million. The following year, his contract with McLaren dropped to $14.4 million. In 2007, he moved to Ferrari with a 1-year, $51 million contract, followed by $22 million in 2008 and $45 million in 2009. His 2010 contract with Ferrari was $21.28 million. After a brief hiatus, he returned to Lotus for a 2-year deal in 2012-2013, earning $10.4 million, averaging $5.2 million per year. In 2014-2015, he signed a 2-year, $51.5 million contract with Ferrari, with an annual salary of $25.75 million. He extended his Ferrari contract in 2016 for $16 million, then again in 2018 for $40 million. In his final F1 years, he moved to Alfa Romeo with a 2-year contract in 2019-2020 worth $13 million, earning merely $6.5 million annually in comparison to his previous salaries. 

Kimi Räikkönen’s real estate portfolio is impressive, featuring a $1.5 million beachfront property in Phuket, a $24 million villa in Switzerland, and a $3.2 million home in Helsinki. He sold his Helsinki home for $15.5 million in 2008. 

3. Fernando Alonso - $260 million

Two-time world champion Fernando Alonso, a Spanish racing driver, has a net worth of $260 million. Every year, he makes $40 million between earnings and endorsements. Fernando Alonso signed several high-profile contracts during his career.

In 2005, Fernando Alonso signed a 1-year, $7 million deal with Renault. In 2008-2009, his salary increased to $21.5 million annually with a 2-year, $43 million contract. Moving to Ferrari in 2010, he signed a 4-year deal worth $146.7 million, earning $36.67 million per year. In 2015, Alonso returned to McLaren with a 1-year contract worth $38.44 million, and in 2016-2017, he extended for 2 years at $40 million per year. In 2018, he again signed with McLaren for $30 million for one year. After a brief break, he joined Alpine in 2021-2022, though details are unclear. In 2023-2024, Alonso is earning a reported $18 million salary with Aston Martin as per Spotrac. 

Alonso has built significant wealth through business ventures, partnering with brands like Europcar, Silestone, Chandon, Adidas, and Liberbank. He is also the founder and ambassador of the fashion brand Kimoa. In 2017, he launched the eSports racing team FA Racing G2 Logitech G, which competes in the F4 Spanish Championship and Formula Renault Eurocup.

2. Lewis Hamilton - $300 million

British racing legend Lewis Hamilton has an estimated net worth of $300 million in 2024. His wealth comes from his salary, bonuses, endorsements, investments, and prize money. Hamilton earns between $70-90 million per year. 

From 2007 to 2012, he had varying 1-year deals with McLaren, starting at $4 million and rising to $20.4 million in 2012. From 2013 to 2015, he moved to Mercedes with a 3-year contract worth $82.8 million, earning $27.6 million per year. His salary increased to $34.6 million annually from 2016-2018 with another 3-year Mercedes deal. In 2019-2020, he signed a 2-year extension worth $133 million, earning $66.5 million per year. In 2024, he signed a 2-year contract with Mercedes, earning a base salary of $45 million annually. 

Hamilton’s real estate ventures are equally impressive, including a $50 million New York penthouse, a $40.7 million unit at 70 Vestry Street, a $25 million mansion in London, apartments in Nyon and Monaco, and an estate in Colorado.

1. Michael Schumacher - $600 million

Michael Schumacher, a retired German Formula One legend, has a net worth of $600 million, making him the wealthiest F1 driver in history. Over his illustrious career, the seven-time World Champion earned more than $1 billion, making him one of the highest-paid athletes of all time. 

At his peak, he brought in $80-$100 million annually, with $50 million coming from endorsements alone. Michael Schumacher had several contracts across his career, with notable stints at Ferrari and Mercedes. In 1995, he signed a 1-year deal with Benetton. From 1996-1997, he earned $30 million annually in a 2-year contract with Ferrari. His 1-year contracts with Ferrari from 1998-2000 were worth $25 million in 1998 and 1999, and $30 million in 2000. Between 2001-2003, he earned $32 million per year with Ferrari. In 2004, his salary increased to $35 million. In 2005, Schumacher signed an extraordinary 1-year deal worth $2.15 billion with Ferrari, followed by $38 million in 2006. After retiring, he made a return to F1 with Mercedes, signing a 1-year contract in 2010 worth $10.64 million. In 2011, he earned $11.12 million, and in 2012, his salary was $10.24 million. 

One of his most notable deals was earning $10 million per year to wear a Shell-branded hat at public appearances. Schumacher's wealth extends to an impressive real estate portfolio and his $7 million car collection. His properties include a lakeside mansion in Switzerland, a Texas ranch, and a $40 million estate in Majorca, Spain.