Lewis Hamilton on difficult season for Mercedes in November
Mercedes team principal Toto Wolff is worth a staggering eight times more than his F1 rivals in the paddock, according to the latest figures. Business magazine Forbes claims the Silver Arrows chief has an estimated value of a staggering £805million ($1billion).
Forbes lists Wolff as 2,540th on their billionaire list with the 48-year-old just below Tiger Woods in the rankings. The Austrian is one of the highest-paid figures in F1 despite not getting behind the wheel.
French magazine Sportune claimed he is paid a whopping £13.9million (€16m) a year, topping the leaderboard among team bosses. Wolff’s supposed wage is also higher than 16 F1 stars’ basic wages with only F1’s top drivers getting more.
These include Lewis Hamilton, Max Verstappen, Charles Leclerc and Lando Norris. Wolff has built up this wealth after a stunning career in business before his roles in F1.
Lewis Hamilton won’t like six words said by Mercedes boss Toto Wolff[LATEST]
He started out as a banker, moving to investing as he piled money into new companies. In 2009, the Austrian put some capital into the Williams F1 team and now owns shares in Mercedes.
He is a 33 per cent shareholder in the team alongside Sir Jim Ratcliffe’s INEOS group and Daimler. Wolff previously explained he intended to sell his shares when he left the team but changed his mind during the pandemic.
He explained: “Then, in 2020, I came to the conclusion that this is what I like to do. I like the sporting side, and I love the business side. And what we learnt during Covid is that content companies are crisis resilient. If you are able to put on a show, and broadcast it, it will entertain people.”
Schumacher raises ‘big question mark’ over Hamilton joining Ferrari[LATEST]
Mercedes and Toto Wolff finally listen to Martin Brundle ahead of Monaco GP[ANALYSIS]
How much Lewis Hamilton was ‘paying’ Angela Cullen before their split[COMMENT]
Christian Horner is the next most valuable team boss in the sport but is understood to have considerably less than Wolff. According to Celebrity Net Worth, the Red Bull chief has a valuation of £40.2m ($50m).
Horner is also thought to earn an annual salary of £8m ($10m), still one of the highest on the grid. Some claim this also makes Horner the highest-paid team boss if Wolff earns a lower £7.3m ($9.1m).
Horner has picked up his wealth with his two country mansions in Oxfordshire and Hertfordshire as well as owning several stunning sports cars. He has the keys to a stunning Aston Martin DB5 worth a massive £650,000.
According to PlanetF1, five team bosses have an estimated net worth of around £4m ($5m). This included former Mercedes engineer turned team principal James Vowles who joined Williams ahead of the current campaign.
Franz Tost, Otmar Szafnauer, Guenther Steiner and Alfa Romeo representative Alessandro Alunni Bravi all command the same valuation. Surprisingly, Ferrari team principal Frederic Vasseur has a net worth of just £2.5m ($3m) despite his prestigious role.
Vasseur has worked his way up the grid having enjoyed spells at Renault and Alfa Romeo. However, the Frenchman’s salary is expected to top £4m ($5m) per year meaning he is likely to surge up the leaderboard in future seasons.
Source: Read Full Article