Drivers competing in Formula One (F1) can earn many millions of dollars per year while attending multiple races in the top tier of the motorsports industry. This usually comes in the form of sponsors with big-name car brands and pay-per-race salaries.
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This income is further supplemented by brand deals and other endorsements which see F1 stars consistently raking in the cash at an incredible rate.
As a result, F1 drivers are some of the richest sportspeople out there. But in an industry that has produced so many incredible athletes, who are the official top earners of all time?
You can check out sports betting odds to find out more about the top racers competing in Formula One today.
1. Michael Schumacher – $600 million
Monza, 10th September 2006 – Michael Schumacher won an emotional Italian Grand Prix on Sunday prior to announcing that it would be his last.
This German superstar is one of the most recognizable faces in the world. He once held nearly every separate Formula One record before retiring in 2012, including 91 wins and seven world titles, making him one of the most successful F1 drivers in history.Â
Even now, a decade after his retirement, his wealth far exceeds other F1 drivers. Though he made a hefty primary salary racing for Ferrari and Mercedes, the largest percentage of his fortune comes from his participation in different advertisements and brand endorsements.
His total career earnings easily exceed $1 billion which makes him one of the highest-paid athletes in the world.
2. Lewis Hamilton – $285 million
Lewis Hamilton, 2022 Spanish Grand Prix, Friday – Steve Etherington
Lewis Hamilton is statistically one of the greatest Formula One drivers in the history of the sport. He began his career with McLaren in 2007 and has since achieved seven championship trophies tying him with the record set by Michael Schumacher, and has also won more individual races than any other F1 driver.
Hamilton makes around $12 million per year in endorsements for Sony, Tommy Hilfiger, Puma, and Bose, among many others. He also has property and business investments, totalling around $200 million.
Hamilton peaked at number 8 on the Forbes list of highest-paid athletes in 2021.
3. Fernando Alonso – $260 Million
Fernando Alonso (ESP) Alpine F1 Team. 2022 Formula 1 British Grand Prix, Thursday 30th June 2022. Silverstone, England.
The Spaniard has competed in F1 races since 2001 for McLaren, Renault,…
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