Top 6 Richest F1 Team Principals
F1 team principals have some of the most demanding jobs in the motorsports industry. They are the primary director of their teams, directing every element of competition, strategy, and operations. As a result, most are compensated handsomely. Here is a list of the richest team principals in Formula 1 today.
Who Are the Richest F1 Team Principals Currently?
- Toto Wolff: $438 Million
- Christian Horner: $50 Million
- Otmar Szafnauer: $5 Million
- Franz Tost: $5 Million
- James Vowles: $5 Million
- Guenther Steiner: $5 Million
1. Toto Wolff (Mercedes)
Toto Wolff is the richest F1 team principal, with a net worth of $438 million. He is the team chief of the Mercedes-AMG PETRONAS Formula One Team, with drivers Lewis Hamilton and George Russell. He also has a 33% ownership stake in the company. Wolff is from Austria; he began racing in the country at just 20 years old and raced well into his thirties. In 2009, he began investing in and participating in Formula 1, joining the Williams team as executive director. He then became an executive director at Mercedes in 2013. Mercedes has quickly become one of the top-earning and winningest Formula 1 teams. Wolff also has a stake in other ventures and investments, like technology, sports management, holding companies, and more.
2. Christian Horner (Red Bull)
Christian Horner is an English team chief for Red Bull Racing with a net worth of $50 million. Having grown up in a family involved in the auto industry, Horner was destined to become successful in the industry as well. His driving career began when he was just 18 years old, racing karts. He retired from racing at 25, but stayed in the industry, working in team management and eventually joining the Red Bull team in 2004. In just 2005, he was appointed as team chief. Red Bull has since been a strong competitor in Formula 1, earning Horner his hefty compensation.
3. Otmar Szafnauer (Alpine)
Otmar Szafnauer has a net worth of $5 million. He is a Romanian-American who has worked almost his entire life in the auto and motorsports industry. He moved as a child from Romania to Detroit, Michigan, the city where the auto industry had thrived for many decades. He studied engineering, specifically in electrics, and went on to work for Ford before racing for them. Then, he worked at British-American Racing, Jaguar Racing, Honda, and Aston Martin at Formula 1. In early 2022, he joined the Alpine Team and is now their team chief with drivers Pierre Gasly and Esteban Ocon.
4. Franz Tost (AlphaTauri)
Franz Tost has a net worth of $5 million. The AlphaTauri Formula 1 team is technically owned by Red Bull, however, the team chief is Tost. Franz Tost is yet another former driver from Austria who competed in the 1980s. In 2000, he joined Formula 1, and in 2005, he joined the AlphaTauri F1 team as the team chief and has been there ever since. Tost is one of the longest reigning F1 team principals.
5. James Vowles (Williams)
With a net worth of $5 million, the new team chief of Williams racing team is James Vowles, a motorsport engineer from England. He first entered Formula 1 out of college as an engineer with the Honda Racing F1 Team. He then became a strategist at Brawn GP, which was later bought by Mercedes, where he worked for many years. Technically, his role as team chief or principal of Williams will not begin until the beginning of the 2023 Grands Prix.
6. Guenther Steiner (Haas)
Guenther Steiner has a net worth of $5 million. The team principal of Haas’s Formula 1 team since 2014, Steiner previously served as managing director of Jaguar racing and technical operations director of Red Bull Racing. Steiner grew up in South Tyrol, north of Italy, and got his start in racing as a mechanic in Belgium for the Mazda Rally Team Europe in the World Rally Championship (WRC). Steiner has earned his wealth almost entirely from his generous salaries working for various racing teams.
Frédéric Vasseur (Ferrari)
As the team chief for Ferrari’s Formula 1 racing team, Frédéric Vasseur has an estimated net worth of around $3 million. Vasseur is a French-born engineer who studied aeronautics and mechanics. He is known to have been team chief of many Formula 1 teams, including Renault, Sauber, and Alfa Romeo, before joining Ferrari’s team for the 2023 race season. He is quite private, but without question has made a huge effect on Formula 1 and the motorsport industry itself. He continues to stay innovative and creative, and it will be fascinating to see the effect he makes on Ferrari’s team.
Andrea Stella (McLaren)
Andrea Stella is the team principal of the McLaren Formula 1 Racing Team and has an estimated net worth of roughly $1.5 million. He is also the Head of Race Operations for the team, a role he has held since 2015. Previously, he worked as a Race Engineer for Ferrari’s team and holds over two decades of working in Formula 1. He studied aerospace engineering and mechanical engineering in college and has many F1 wins on his plate.
Who is the richest F1 team principal?
By a large margin, the richest F1 team principal is Toto Wolff. He is not only the team chief of the Mercedes-AMG PETRONAS Formula One Team, but he has a 33% stake in the team and has actively been with the company since he joined Mercedes as an executive director in 2013. Between his many ventures, Wolff is estimated to be worth around $438 million.
Who is the youngest F1 Team principal?
Christian Horner is the youngest Formula 1 team principal. Alongside being the second wealthiest F1 team principal, Horner is only 49 years old, which is quite young compared to the other wealthy magnates. He retired from driving at just 25 and went straight into the business side of racing and has been there since.