Over the years, Formula 1 has attracted some of the wealthiest individuals and stakeholders on the planet, which include sponsors, owners and even attendees (those ticket prices only seem to go up).
A notable example is Claro, a sponsor whose sticker is on the Red Bull Racing car.
Claro is a telecommunications company that serves South and Latin America as part of America Movil. As part of the Forbes Global 2000, America Movil’s revenues are reportedly over $50 billion USD. Their owner, Carlos Slim Helu, has a net worth of $62.8 billion USD and is currently the 16th richest man on the planet.
The company has been a supporter of Red Bull and their Mexican driver Sergio Perez since the start of this season. America Movil is just one example that highlights just how much money is being put into F1.
So, let’s dive into who exactly is bringing in some serious cash in the world of F1, as per a recent article on motorsport.com.
Who is the richest team owner in F1?
Red Bull co-founder Dietrich Mateschitz takes the prize as F1’s richest team owner with a net worth of $27 billion USD. The 76-year-old Austrian is the managing director and 49% owner of the entire Red Bull company.
Mateschitz also owns the race track that holds the Austrian Grand Prix, a true sign of the opulent nature of F1.
The Austrian founded Red Bull alongside Chaleo Yoovidhya, who, before he died, owned the other 51% of the company. His death in 2012 made his son Chalerm the new majority owner, but despite this and him technically being the richest F1 owner, Mateschitz seems to be leading the way on the F1 front.
Who is the richest driver in F1?
No surprise that Lewis Hamilton is the wealthiest, active driver in F1. The seven-time champion makes approximately $55 million USD per year and has a net worth of $300-500 million USD. The Brit is also dominating the sponsorship game, as he currently has endorsement deals with Mercedes, Tommy Hilfiger, Monster Energy, Bose, Puma, IWC, Sony, Gran Turismo and MV Agusta.
Hamilton’s endorsement deals were reportedly worth $12 million USD in 2020. Talk about additional revenue streams.
Who is the richest race promoter in F1?
From Prince Albert of Monaco to the UAE’s Sheikh Khalifa, the wealth across those associated with the F1 races is quite insane. Monaco hosts arguably the most famous F1 race on the calendar and there’s no doubt Prince Albert is a billionaire himself.
Abu Dhabi hosts the final race of the year and Sheikh Khalifa, who controls the investment authority in the country, manages $875 billion USD in assets.
The latest city to join the F1 roster is Miami, who will host their first race in 2022. Stephen M Ross, who is the co-founder of RSE Ventures, is planning on building the race track just outside of the famous Hard Rock Stadium, the home of the NFL’s Miami Dolphins. Ross has a personal net worth of $7.5 billion USD and is planning to spend $40 million USD on the construction of the track.
How rich are Formula 1’s owners?
Liberty Media, controlled by American billionaire John C Malone, currently holds the title as F1’s richest owners following their $4.6 billion USD purchase of the Formula 1 group in 2017.
Malone himself has a net worth of $7.8 billion USD and is the largest private landowner in the U.S.
The CEO of Liberty Media Greg Maffei has a base salary of $871,800 USD per year. Quite staggering.
Who are F1’s richest ‘racing fathers’?
Lawrence Stroll, the father of Aston Martin driver Lance, has a net worth of $3.2 billion USD. In fact, Lawrence actually owns the Aston Martin car company after he bought it in early 2020 for $235 million USD.
He is also known for his financial work in the fashion world, specifically with Michael Kors and Tommy Hilfiger. Despite being all in on Aston Martin, Stroll Sr is well known for his Ferrari collection. His most famous addition was a 275 GTB/4 Spider, which he purchased for a then-record breaking $27.5 million USD in 2013.
Will there be more 'new' money coming into F1?
Most definitely. The addition of a Miami Grand Prix will surely bolster F1’s western profile, something that is already in the works thanks to Netflix’s popular Drive to Survive series.
Zak Brown, McLaren’s head honcho, stated that F1 is a place to “get famous fast”, and it really seems like the only direction is up for any stakeholder within the world of Formula 1.