Max Verstappen, dominating the Formula 1 races since 2021, has won three championships till now and is aiming for the fourth one, proving himself as the ultimate bully of the drivers on the grid.
The Dutchman, unsurprisingly, holds the title of the highest-paid Formula One driver after his accomplishments in the past three years.
In 2023, the F1 icon won 19 out of 22 races, which means he finished first in 86 percent of the races breaking Alberto Ascari’s 1952 record of 75 percent.
In doing so, Verstappen added a lot of first-place bonuses to his bank account.
This also means he would have received a lot of sponsors and offers from brands.
Also read: Max Verstappen Wife: Is ‘Mad Max’ Married – Who Is Kelly Piquet?
But what was the exact amount made by Max in 2023? Let’s delve in further to know how much many did max racked.
What Is The Total Amount Of Money Mad Max Earns In A Year From All Sources, Including Race Winnings, Endorsements, And Other Income Streams?
According to reports in 2024, Max Verstappen is currently the highest earner in F1, with his contract set to earn him a jaw-dropping $60 million per year until 2028.
This excludes bonuses or personal endorsements. Verstappen’s contract with Red Bull Racing has made him one of the best-paid drivers in F1 history, even when accounting for inflation.
Brands such as Tag Heuer, Puma, Jumbo Supermarkets, Red Bull, G-Star Raw, and CarNext.com signed lucrative endorsement deals with Verstappen, adding approximately $4 million to his earnings line.
According to @Forbes Max Verstappen was the highest earning F1 driver in 2022, making a total of $60M (40 salary+20 bonuses)
First time since 2013 Lewis Hamilton is not the highest earning F1 driver. pic.twitter.com/fj2jIf9TxA— Anuj Tripathi (@depressedsebfan) November 22, 2022
This placed him in the third position on Forbes’ list of high-earning athletes aged under 26, with a substantial income of $64 million between May 2022 and 2023.
Who Besides Max, Are The Highest-Earning Formula 1 Drivers, And Who Currently Holds The Title Of The Wealthiest Driver In The Sport?
Lewis Hamilton, currently the seven-time world champion and one of the most successful drivers in F1 history, earns around $55 million a year excluding brand endorsements and bonuses.
Recently, he signed a contract with Ferrari, where he’s set to move after the 2024 season, expected to earn around $100 million annually, including bonuses.
Charles Leclerc, who is likely to be Hamilton’s teammate for the 2025 season in Ferrari saw his salary increase to $36 million.
Even though Max is the highest-paid F1 driver, he still doesn’t top the richest F1 driver list, as Michael Schumacher holds that title for him.
Michael Schumacher in 2005 was the first billionaire athlete ranked in the Forbes list.
Here’s the list of the top 5 richest F1 drivers and their net worth.
- Michael Schumacher: £462.5M
- Lewis Hamilton: £224.7M
- Fernando Alonso: £205M
- Max Verstappen: £165.5M
- Kimi Raikkonen: £140.6M
Gaurang is a writer at the SportsOrbit covering articles related to F1,Gaurang was 14 when he cared more about playing football than studying. But when COVID hit and he had to stay home, he discovered Formula 1. It immediately caught his interest. Since then, he’s been really into Formula 1, watching every race and learning all about it. He still loves football, but now he’s also a big fan of Formula 1, especially Lewis Hamilton. Even though he loves racing, he still looks up to Cristiano Ronaldo as his idol.