Top 10 Richest Formula 1 Drivers

Top 10 Richest Formula 1 Drivers

Who Are the Richest Formula 1 Drivers?

  1. Michael Schumacher: $600 million
  2. Lewis Hamilton: $285 million
  3. Kimi Raikkonen: $250 million
  4. Fernando Alonso: $240 million
  5. Niki Lauda: $200 million
  6. Jenson Button: $150 million
  7. Mario Andretti: $130 million
  8. Sebastian Vettel: $120 million
  9. Eddie Irvine: $120 million
  10.  Ralf Schumacher: $100 million

1. Michael Schumacher

Michael Schumacher is known worldwide for his Formula 1 success and is the richest Formula 1 driver in the world, with a net worth of approximately $600 million. Schumacher earned his fame and money by being the greatest Formula 1 driver in the world. He was the first German Champion at 25 years old. He retired with seven Formula 1 Drivers’ Championship wins, the most in history for any driver. His record is now shared with Lewis Hamilton. The most successful moments in his driving career occurred while he was signed to Ferrari when he made most of his millions. Schumacher retired twice, first in 2006 until 2010 and then again for good in 2012. While retired, he is still one of the greatest names in Formula 1 and the richest of all F1 drivers.

2. Lewis Hamilton

Lewis Hamilton is a dominant F1 driver who began his racing career in 2007 and is the richest active driver in the world, with an estimated net worth of $285 million. He has seven Formula 1 Championship wins, tying him with Michael Schumacher. He is signed to Mercedes and has made a name for himself around the world. His net worth and earnings also come from endorsements. Compared to other Formula 1 drivers, Hamilton is well-known as a celebrity and has been spotted hanging around and dating many famous celebrities. He is the first and, thus far, the only black driver in Formula 1, and was honored with a knighthood in his native England in 2020.

3. Kimi Raikkonen

Kimi Raikkonen is the most popular Finnish driver in the world, and his net worth is estimated to be approximately $250 million. Raikkonen is nicknamed “The Iceman” and raced for a variety of teams like Alfa Romeo, Ferrari, McLaren, and Sauber. Raikkonen briefly left Formula 1 between 2010 to 2012 but came back and raced up until 2021. After returning, Raikkonen did not have luck winning any championships. 

4. Fernando Alonso

Fernando Alonso is a Spanish Formula 1 driver with a net worth of approximately $240 million. Alonso retired in 2018 to pursue other ventures but returned to race for team Alpine in 2021. He earns most of his fortune from racing, with parts coming from endorsements. Alonso was the youngest Formula 1 driver to win the One World Driver’s Championship at age 24. Part of his fame and success comes from his caring and driven roots. Alonso is also an ambassador for UNICEF. Alonso is known as one of the greatest and most talented drivers of his generation.

5. Niki Lauda

Niki Lauda was a highly-decorated Formula 1 driver with a net worth of approximately $200 million. While still competing, Lauda won the Formula 1 Drivers’ Championship three times and is the only driver to have ever won with both Ferrari and McLaren. He went on to become a chairman on the board of Mercedes-AMG Petronas Motorsports. Lauda owned 10% of the company. He also served as a commentator on TV outlets after his retirement from driving. Lauda is most well-known for his infamous 1976 accident during the German Grand Prix, in which his car was engulfed in flames after colliding with the track’s metal barriers. Despite enduring severe burns and injuries, Lauda left the hospital after six weeks and returned to the course after missing only two races. 

6. Jenson Button

Jenson Button is a famous British F1 driver with a net worth estimated to be $150 million. Button no longer races Formula 1, having retired from the sport in 2016. His greatest Formula 1 achievement was winning the 2009 Formula 1 World Championship. After leaving Formula 1, Button became the 2018 Super GT Series champion. He has raced for a variety of teams, including Williams, Benetton, Renault, BAR, Honda, Brawn GP, and McLaren.

7. Mario Andretti

Mario Andretti is one of the most famous names in all of motorsports, with a net worth of roughly $130 million. Not only did he compete and win in the Formula 1 circuit, but he also won races in NASCAR, IndyCar, and the World Sportscar Championship. His versatility led to him winning over 100 races in major competitions. Beyond racing, he has appeared in several animated and live-action films playing himself and even had a race named after him called the “Mario Andretti Grand Prix of Road America.”

8. Sebastian Vettel

Vettel currently races for Ferrari and is one of the current most well-known Formula 1 racers in the world, resulting in an estimated net worth of $120 million. Vettel is a German Formula 1 racer and is one of Lewis Hamilton’s top competitors. Their rivalry is currently the top one in Formula 1 racing. Currently, he is one of the highest-paid Formula 1 drivers in the world. Vettel has won four Formula 1 World Championships and was the youngest World Champion in F1 history. Vettel also set the record for the most successive wins with a total of nine wins and race wins in a season with 13.

9. Eddie Irvine

Eddie Irvine, also known as Edmund Irvine Jr., is the next richest Formula 1 driver, with a net worth of approximately $120 million. Granted, he is not as well known as the others. Eddie Irvine did not last long in Formula 1 but made enough during his time to still be considered one of the richest Formula 1 drivers. He gained fame in 1999 when he won four races and competed against Mika Hakkinen for the World Championship. His Formula 1 career ended after that, even though fans believe he could have reached greatness if he had continued. Irvine raced for Jordan, Ferrari, and Jaguar during his F1 career.

10. Ralf Schumacher

Ralf Schumacher is a former Formula 1 driver with a net worth of approximately $100 million. Ralf is the younger brother of the most successful and richest Formula 1 driver, Michael Schumacher. Out of the seven siblings in the family, Ralf and Michael are the only two to win Formula 1 races. Ralf Schumacher retired from Formula 1 after not achieving the results he strived for but he still has made a large amount of money in his life.

Honorable Mentions

Alain Prost

Alain Prost is a retired Formula 1 driver with a net worth of roughly $100 million. He held the record for most Grand Prix victories from 1987 to 2001, cementing himself as a legend in the sport. After retiring from driving, Prost founded his own racing team called “Prost Grand Prix.” Though the team eventually went bankrupt, Prost continued to be involved in motorsports, serving as a commentator for multiple TV outlets covering Formula 1.

David Coulthard

David Coulthard is a retired Formula 1 driver with an estimated net worth of $80 million. Coulthard’s Formula 1 career lasted from 1994 to 2008, but his success does not compare to the other drivers on this list. Coulthard did not win a Formula 1 World Championship in his career. However, Coulthard did win 13 Grands Prix. Being from the UK, Coulthard raced for Jaguar and retired to write many books about his experience in Formula 1. This ended up being a big part of his overall net worth and success.

Nico Rosberg

Nico Rosberg is a German-Finnish Formula 1 driver with an estimated net worth of $50 million. Rosberg retired from Formula 1 in 2016. Rosberg was extremely popular because of his strong rivalry with Lewis Hamilton. He has stayed in the racing world and has moved on to driver management and other positions behind the scenes. Nico Rosberg raced for Mercedes and is recognized for his World Championship rival win against Lewis Hamilton, which led to his retirement from Formula 1.


Who is the richest F1 driver in the world?

Michael Schumacher is known as the best Formula 1 driver in the world, and he is also the richest with a net worth of $600 million. He has set multiple records with 91 wins and seven World Championship titles. This achievement makes him the best driver in history, as there is yet anyone to beat his record wins. Other F1 drivers with high net worths are Lewis Hamilton, Kimi Raikkonen, and Fernando Alonso.

What was Michael Schumacher’s salary?

With seven World Championship wins, Schumacher has earned a great deal during his Formula 1 racing career. Michael Schumacher was reported to earn £30 million each year as his salary during his time in Formula 1. Aside from the salary, he has earned his fortune through his various endorsements from Shell, Marlboro, and Vodafone. 

Which of the richest Formula 1 drivers are still active?

Out of the list of the richest Formula 1 drivers in the world, there are only four who are still active racers. These drivers are Sebastian Vettel, Kimi Raikkonen, Fernando Alonso, and Lewis Hamilton. Out of these, Lewis Hamilton is the richest Formula 1 driver currently active. Lewis Hamilton is also one of the most well-known current drivers and is a strong competitor in the league.

Who sponsors Lewis Hamilton?

Lewis Hamilton is a popular public figure outside of his Formula 1 career. Hamilton has strong sponsorships and partnerships with Bose, Sony, Tommy Hilfiger, and Monster Energy. He is currently the highest-paid Formula 1 driver in the world and the richest active Formula 1 driver on the list. It has been reported that Lewis Hamilton made approximately $57 million this year with his Mercedes racing contract.