The Highest Paid Formula 1 Drivers of All Time


The Highest Paid Formula 1 Drivers of All Time


The Drivers With The Most Eye-Watering Salaries

Since its inception, Formula One has been the sport with the most prestige, glam, and glitz surrounding it. It's not uncommon for even a rookie driver to earn a million-dollar salary, but that's nothing compared to the big guns. Just in case you didn't already feel poor, here are the 20 highest-paid Formula One drivers of all time. 

F1


1. Michael Schumacher

Considered by many the greatest F1 driver of all time, Michael Schumacher competed in Formula One from 1991 to 2012, winning a record-breaking seven championships and 91 Grand Prix. His yearly salary was estimated at a whopping 80 to 100 million at the peak of his career.

File:Michael Schumacher (Ferrari) - GP d'Italia 1998.jpgMichael Cooper / ALLSPORT on Wikimedia

2. Lewis Hamilton

The only driver to match Schumacher's seven championship record, Lewis Hamilton has been a Formula One driver since 2007. During his peak years, Mercedes paid him an impressive $65 million, a figure that's since been reduced to $55 million. 

File:Lewis Hamilton 2017 Malaysia.jpgMorio on Wikimedia

3. Max Verstappen

The current superstar of the sport, Max Verstappen has won the last three championships for Red Bull. The powerhouse driver earns a salary of $55 million. 

File:2024-08-25 Motorsport, Formel 1, Großer Preis der Niederlande 2024 STP 3973 by Stepro (medium crop).jpgSteffen Prößdorf on Wikimedia

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4. Sebastian Vettel

Sebastian Vettel was a Formula One driver between 2007 and 2022 who took four consecutive championships between 2010 and 2014, raking in 53 Grand Prix wins for Red Bull. His impressive performance ranked him among the greatest and earned him an average salary of $50 million at his peak.

File:Sebastian Vettel 2012 Bahrain GP.jpgRyan Bayona on Wikimedia

5. Fernando Alonso

Fernando Alonso is a two-time world champion and the F1 driver with the longest career. His peak salary around the time of his championship wins form 2005 to 2007 was reported to be around $40 million a year. He now earns around $18 million with his current team, Aston Martin. 

File:Alonso-68 (24710447098).jpgUnited Autosports on Wikimedia

6. Ayrton Senna

Considered by many as one of the greatest F1 drivers of all time, Ayrton Senna tragically perished on the track in 1994 at the age of 34. Before his passing however, he signed a $20 million contract, the equivalent of $40 million in today's currency.

File:Ayrton Senna 9 - Cropped.jpgInstituto Ayrton Senna on Wikimedia

7. Kimi Räikkönen

Kimi Räikkönen was a Finnish F1 driver active between 2001 and 2021. He won the 2007 championship when driving for Ferrari who reportedly paid him $30 million. 

File:Kimi Räikkönen Moscow 2013 cropped.jpgAntigorky, cropped and improved by RanZag on Wikimedia

8. Jenson Button

Jenson Button was a British F1 driver active from 2000 to 2017. He won the 2009 championship for Brawn and won a total of 15 grand prix. He was reportedly paid around $23 million at his peak. 

File:Jenson Button bahrain 2012.jpgRyan Bayona on Wikimedia

9. Nico Rosberg

Nico Rosberg was a German Formula One driver between 2006 and 2016 who won 23 Grand Prix in his career and took one championship in 2016. He was reportedly paid $21 million by Mercedes, but walked away from a much higher contract shortly after taking the title to pursue a different career path. 

File:Nico Rosberg 2016 Malaysia 2.jpgMorio on Wikimedia

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10. Charles Leclerc

The Monegasque driver, Charles Leclerc has been driving for Ferrari since 2019. He's largely considered the best qualifier on the grid and earns around $34 million per year.

File:Charles-Leclerc.jpgGilzetbase on Wikimedia

11. Alain Prost

The French F1 champion, Alain Prost, took four championship titles in his career as a Formula One Driver from 1980 to 1993, raking in 51 Grand Prix wins, the record until Schumacher beat it only decades later. Although it's unknown how much his yearly salary was, his net worth is estimated at a healthy $150 million.

File:Alain Prost (1981).jpgPanini on Wikimedia

12. Mario Andretti 

Mario Andretti competed in Formula One from 1968 to 1982, taking one championship title in 1978. He's the only driver to win races across Formula One, IndyCar, Daytona 500, Nascar and the World Sportscar Championship. His peak salary was $12 million, or around $40 million in today's money.

File:Mario Andretti Goodwood Festival of Speed 2021 (cropped).jpgUnited Autosports on Wikimedia

13. Ralf Schumacher

Ralf Schumacher, Michael's younger brother, was a German F1 driver active between 1997 and 2007. When racing for Toyota, he reportedly earned around $22 million a year.

File:Ralf Schumacher-Nürburgring2004.jpgen:own work of Jürgen Weidanz de:eigenes Foto von Jürgen Weidanz on Wikimedia

14. Lando Norris

The British McLaren Driver has been competing in Formula One since 2019 but only started winning Grand Prix this season. His yearly salary is estimated at around $25 million. 

File:2024-08-25 Motorsport, Formel 1, Großer Preis der Niederlande 2024 STP 3975 by Stepro.jpgSteffen Prößdorf on Wikimedia

15. George Russell

Mercedes' second driver, George Russell, started out-performing his teammate this season; not a small feat when your teammate is seven-time champion Lewis Hamilton! Russell's yearly salary is reportedly $18 million. 

File:FIA F1 Austria 2022 George Russell (2) (cropped).jpgLukas Raich on Wikimedia

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16. Mika Hakkinen

Mika Hakkinen was a two-time F1 champion driver active between 1991 to 2001. The Finnish driver earned a respectable $15 million yearly salary during his peak years.

File:2016209185748 2016-07-27 Champions for Charity - Sven - 1D X - 0226 - DV3P4819 mod.jpgSven Mandel on Wikimedia

17. Jacques Villeneuve

Jacques Villeneuve was the son of famed Canadian F1 driver Gilles Villeneuve who tragically passed away on the track. Jacques won the 1997 championship and was paid around $16 million a year at the peak of his career.

File:Jacques Villeneuve (4790081589).jpgLegends Of Motorsports on Wikimedia

18. Sergio Perez

Red Bull's second driver may not be taking titles like his teammate Max Verstappen, but has earned a respectable 39 podiums and six wins. He's paid a healthy $14 million by Red Bull Racing.

File:Sergio Pérez 2019 (cropped).jpgXaviYuahanda on Wikimedia

19. Carlos Sainz

Ferrari's second driver, Spaniard Carlos Sainz has won four Grand Prix so far in his eight year career. Ferrari reportedly pays him a yearly salary of $12 million. 

File:Carlos Sainz Spanish GP 22.jpgByxelized on Wikimedia

20. Niki Lauda

Niki Lauda was an Austrian Formula One driver active between 1971 and 1985. He won three championships two of which came after a remarkable recovery following a life-threatening crash that permanently scarred his face. Despite his impressive career, he was only paid a salary of $12 million by today's money as F1 wasn't the lucrative sport it is today.

File:Lauda at 1982 Dutch Grand Prix.jpgHans van Dijk on Wikimedia




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