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F1 Driver Salaries: Who’s Making the Most and the Least in 2024?

Formula One drivers' earnings in 2024 are challenging to determine, despite their fame, as their earnings do not always reflect their actual earnings.

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F1 Driver Salaries Who's Making the Most and the Least in 2024

F1 Driver Salaries: Formula One (F1) is frequently linked to the provision of substantial remuneration for its drivers. Nevertheless, ascertaining the precise earnings of the sports class of 2024 presents a formidable challenge.

Although Lewis Hamilton, Max Verstappen, and Charles Leclerc are among the most renowned drivers in the industry, their earnings do not always reflect this.

The Highest Earners

According to recent reports, Max Verstappen is reportedly the highest-paid driver in Formula One at present, earning an astounding $55 million per year through 2028 on account of his contract. Not included in this amount are any bonuses he may receive for winning races or championships. Verstappen’s contract with Red Bull Racing has made him one of the highest-paid drivers in Formula One history, even when accounting for inflation.

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Lewis Hamilton, who signed a new contract with Mercedes, will compete for the championship in 2018. Ferrari expects his annual salary, including bonuses, to be around $100 million. One of Formula One’s most successful drivers is Lewis Hamilton, a seven-time world champion.

Hamilton’s future Ferrari teammate Charles Leclerc’s salary rose to $36 million last year. Ferrari rewarded the young Monegasque driver for his outstanding performance in Formula One since his debut.

Based on the compilation, Lando Norris occupies the fourth spot with a net worth of $20 million. George Russell and Fernando Alonso are tied for the fifth and sixth positions, each earning 18 million euros. Checo Perez, who is Max Verstappen’s teammate and was the vice-champion in 2023, currently holds the seventh position with a total of $14 million.

It is noteworthy that two drivers hailing from the most developed economies on the planet appear at the bottom of the list: Yuki Tsunoda of Japan and Logan Sargeant of the United States.

At one million euros each, these two drivers earn less than the other roster drivers. Nonetheless, their anticipated earnings from sponsors are considerably greater.

The list only includes their net worth, not their salaries or other sources of income. Additional revenue sources, such as sponsorships and endorsements, significantly contribute to the accumulation of their net worth.

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