Formula 1 isn’t just about blistering lap times; its where green flags meet greenbacks. Some drivers are known for their finesse on the track, but others are busy turning trophies into treasure chests. So, who’s banking the most laps and cash in 2024? We’ve rounded up the top 10, with numbers that’ll make you wonder if they’re racing cars or printing money. (Psst, these are just estimates, but when you’re this rich, does it really matter?)
10 Richest Formula 1 Drivers of 2024, Ranked
1. Lewis Hamilton
Net Worth: ₹2,300 to ₹2,600 Crores
Lewis Hamilton doesn’t just have eight... err... seven World Championships—he’s also got a bank balance that could buy a small island (or maybe even a country). Between his decade-long stint with Mercedes, several endorsements as well as brands ambassadorship with Tommy Hilfiger and Dior (he just co-designed a capsule collection dedicated to winter sports), and a production company that’s cranking out a movie starring Brad Pitt based on Formula 1, Lewis is living proof that you can win big off the track too.
As for his new signing with Ferrari, his contract is rumored to be worth around ₹830 crores annually including salary, sponsorships, image rights and bonuses. The announcement of his move even led to a 6 per cent surge in Ferrari’s share price, boosting the company's market value by around ₹50,000 crores. Over his long tenure with Mercedes, Hamilton reportedly earned over ₹4,100 crores from salaries and bonuses alone.
Having accumulated so much wealth, Hamilton invested his capital in shares of companies like Neat Burger, a plant-based food brand, and the Extreme E racing series. While the exact numbers aren’t known, both are reported to be showing impressive returns.
2. Fernando Alonso - ₹2,160 Crore
Fernando Alonso might be the oldest on the grid, but that’s probably why he’s also among the richest F1 drivers in 2024. Fernando Alonso's salary at Aston Martin is reported to be ₹150 crore per season. His contract with the team is for two years and includes a signing bonus of ₹116 crore. Counting salary and bonuses from his various past contracts from Renault, Ferrari and McLaren, as well as ambassador roles with Santander, Cajastur, TAG Heuer, Europcar, Silestone, Liberbank, ING, Chandon, Adidas, Bang & Olufsen, and now BOSS, as well as side gigs like his venture Kimoa (he now holds 25% stake), he’s got cash coming in from all angles. Plus, who else could make a career out of retirement, un-retirement, and then retire again?
3. Max Verstappen - ₹1,660 Crore
The Dutch dynamo isn’t just a three-time world champion—he’s also filling up his bank balance at the speed of his RB19. With a salary to match Hamilton’s (₹458 crore base), thanks to his hefty Red Bull contract, he’s also landed a spot on the Forbes list of highest-paid athletes. According to the publication, Verstappen owns five real-estate properties, eleven cars and three luxury yachts. He also owns an investment portfolio of 12 stocks (details unknown) which are valued at over ₹208 crore.
According to reports, Max Verstappen has recently acquired an 11,000-square-foot luxury villa in Monaco worth ₹332 crore. Additionally, Verstappen is considered to be a hot commodity in the sports world, endorsing brands like Red Bull, EA Sports (whose logo appears on the chin of Verstappen’s racing helmet), Heineken and Viaplay, which as per reports reserves the right to document the Dutch driver’s on and off-track life.
4. Charles Leclerc - ₹1,040 Crore
Monaco’s own golden boy, Charles Leclerc, might drive in Ferrari red, but he’s all about that green. Charles Leclerc and his brother Lorenzo recently invested in Chrono24, an online marketplace for luxury watches. With a ₹1,040 crore net worth, Leclerc’s turned his speed into serious coin. Thanks to luxury partnerships with Richard Mille and Giorgio Armani and a juicy Ferrari contract running till 2029, which is said to pay him ₹282 crore annually, this Monégasque is proof that you can be both stylish and loaded.
5. Sergio Pérez - ₹625 Crore to ₹667 Crore
They call him the ‘Minister of Defense,’ but Checo is also great at defending his fortune. As per online sources, Pérez recently signed a 2-year contract with Red Bull Racing, with a base salary of ₹116 crore. Additionally, his loyal Mexican sponsors like Telmex and Telcel, along with brand endorsements with Disney, Mobil, Claro, Nescafé and KitKat help him rake in around ₹41 crore every year. Although, that figure is not confirmed.
One of his recent investments is in the E1 series. It is the world's first all-electric boat racing series where Perez is the team owner for Team Mexico. Other big names like Virat Kohli, Tom Brady, Steve Aoki, Rafael Nadal and Didier Drogba are also team owners in the series. With other side hustles in real estate and hospitality, Checo’s making sure his earnings are as steady as his driving.
6. Carlos Sainz - ₹416 Crore
Carlos Sainz is known as the ‘Smooth Operator’—and it turns out he’s just as smooth with his finances. Earning a salary of ₹100 crore annually from his four-year long stint with Ferrari, it is rumoured that the 30-year-old has reportedly put pen to paper on a 'one-year contract' worth ₹83 crores with Williams, before he takes a seat with Audi who will join the grid in 2026. Between his current Ferrari salary, Williams contract, family ventures, and endorsements from brands like Estrella Galicia and PlayStation, he’s figured out how to keep both his racing line and his investment portfolio squeaky clean. Smooth, indeed.
7. Lando Norris - ₹249 Crore or More
If memes were a currency, Lando Norris would be the richest driver on the grid. After his recent extension, Lando Norris will reportedly earn a base salary of ₹166 crore as part of a four-year, ₹832 crore deal with McLaren. The average annual sum is thus ₹208 crore, including a signing bonus of ₹33 crore, and others under the package.
Plus, he’s got Quadrant, his own eSports team, and a knack for turning online popularity into actual dollars, along with endorsements from Bell Helmets, wearegrip, ADD Management, TUMI and Pure Electric, earnings of which aren’t known. Between that and his family’s fortune worth ₹1,700 crore, Norris might just be the prince of social media and bullish bank accounts alike.
8. Valtteri Bottas - ₹166 Crore to ₹249 Crore
Alfa Romeo may have slowed his pace on track, but Bottas’s earning game is still in full throttle. His current Stake F1 Team is said to pay him an annual salary of ₹83 crore. The Finn was also reportedly on a ₹99 crore salary with his former Mercedes contract. With investments in wellness, real estate, as well as a alcohol and coffee brand, Valtteri’s net worth hovers around ₹249 crore. Turns out, the Finnish isn’t just made for racing; it’s for smart financial moves too.
9. George Russell - ₹166 Crore
George Russell’s move to Mercedes has boosted his bank account almost as much as it has his career, with a reported salary of ₹149 crore, significantly higher than his earlier contract with Williams that fetched him ₹2 crore per year. With a net worth of around ₹166 crore, Russell’s got a steady stream of endorsements with AMG, BRDC, Bell Helmets, Alpinestars, Puma and Bose. Sure, he looks calm, but you know he’s got that competitive streak when it comes to his cash flow too.
10. Esteban Ocon - ₹166 Crore
From scraping by in junior series to a ₹166 crore net worth, Esteban Ocon’s story is one of financial comebacks. His Alpine salary, ₹50 crore base, personal endorsements with brands like Castrol, Infiniti, MAPFRE, Dupont, Microsoft, BP Ultimate and Bell & Ross, and a knack for grinding out results have landed him on this list. He may not always grab the checkered flag, but he’s winning where it counts—in the bank.
