When it comes to Formula 1 racing, there is no name bigger than Michael Schumacher.

He is the best of the best and remains to this day of the most famous and well-respected auto racers in the world.

In the twilight of his storied career, tragedy struck in the form of a skiing accident in 2013 that nearly took the legendary racer's life.

For over six months, Schumacher remained in a medically induced coma, before finally returning home.

Updates on the F1 legend's health have been scarce with his family choosing to maintain Schumacher's privacy.

But Italian billionaire Piero Ferrari, still a 10% owner and vice-chairman of Ferrari, has spoken out about the driver, offering up a tribute of sorts.

Speaking to the Munich-based tabloid TZ, Mr Ferrari said: “Schumacher was incredibly precise. He took all the data home with him to analyze in peace.”

He also said Schumacher was an “emotional driver”.

Schumacher's old team also paid tribute to their former driver in the build-up to the Australian Grand Prix.

A huge sign with the words “Michael Forever” were written on the side of the track along with the Ferrari logo.

To celebrate his 49th birthday in January, Ferrari paid a further tribute on social media by posting: “Today Michael turns 49, our thoughts are always with him. #Keepfighting #ForzaMichael.”

Some reports not too long ago appeared to suggest that Schumacher had begun walking slowly again, but these reports have not been confirmed.

Updates on his health continue to remain sparse as his family are intent on protecting the true scale and magnitude of the German's recovery.

The F1 legend made his name with Benetton before joining Ferrari in 1996 and going on to claim a record seven titles.