Lewis Hamilton, Fernando Alonso and More: The Richest Formula One Drivers on the Grid, Ranked

As one of the most expensive sports of all time, here are the richest F1 drivers you will see on the grid this season

Formula One’s roaring night race is set to happen in Singapore this weekend and it’s safe to say that we are energised and ready for it. It’s going to be a weekend of glitzy after-parties, thrilling musical acts and some of the most exciting races in the season’s lineup.

Considering how F1 reportedly brought in US$2.1 billion in revenue in 2021, it’s safe to say that it is one of the most exclusive, luxurious and expensive sports of all time. So it makes sense for some of its most famous and talented drivers to be paid handsomely.

As some of the wealthiest athletes in the world, F1 drivers such as Lewis Hamilton, Sebastian Vettel and Fernando Alonso have raked in millions from driving alone. This of course does not include the additional (and significant) earnings they make from sponsorships, partnerships and deals.

While we eagerly anticipate the return of F1 to our island after two years, we take a look at some of the richest F1 drivers on the grid this season and rank them according to their net worths.

Don’t miss: The Glitziest Formula One 2022 After-Parties to Hit in Singapore

Lance Stroll

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Estimated Net Worth: US$2.9 billion

If you’ve been keeping up with Netflix’s F1 docudrama, Drive to Survive, it probably comes as no surprise that Lance Stroll, the son of Aston Martin’s owner, Laurence Stroll, comes out on top with a whopping net worth of US$2.9 billion, according to Hot Cars.

Lance, a Canadian-Belgian driver, has been driving for Aston Martin since 2021 after his father invested US$250 million for a 16.7 per cent stake in the team in 2020, said South China Morning Post. He later became the Executive Chairman of Aston Martin Lagonda.

As a driver, Lance began his motorsport career at the age of 10 and has driven for Williams and Racing Point in the past. He reportedly earns an average of US$10 million a year for F1.

Stroll, who is currently standing in 18th place in the 2022 ranking, also earns significantly from his partnerships and sponsorships with companies such as helmet manufacturer Stilo, construction equipment manufacturer JCB and Canadian aviation company Bombardier.

Nicholas Latifi

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Estimated Net Worth: US$2 billion

Nicholas Latifi may not be a name non-racing fans may be very familiar with but the Williams driver has the second highest net worth of all the drivers on the grid at US$2 billion, according to Hot Cars, a car-focused website.

The Canadian-Iranian driver made his Formula One debut at the 2020 Austrian Grand Prix and has served as a test and reserve driver for Renault, Force India and Williams.

Currently, Latifi’s main source of income is his contract with Williams, which is valued at US$1.2 million a year. However, this amount is dwarfed by the fact that he comes from a family that is worth over US$2 billion.

His father, a successful businessman, is the owner of Sofina Foods, one of Canada’s largest food groups comprising nine different brands. In 2019, Michael was named sponsor and partial owner of the Williams team, according to The Paddock Magazine, an F1-focused publication.

Lewis Hamilton

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Estimated Net Worth: US$285 million

Surprisingly, F1’s most famous name is not the richest driver on the grid this year. Rather, Lewis Hamilton, a seven-time champion, is worth US$285 million, according to South China Morning Post, and comes in third in the net worth rankings.

Hamilton reportedly earns US$40 million from F1 and is currently the highest-paid driver on the grid.

Besides F1, Hamilton also makes a significant amount of money from sponsorships and deals he has with major brands such as Tommy Hilfiger, Sony, Bose, Puma, IWC and Monster Energy.

Besides flying down the track for F1, Hamilton also owns numerous swanky cars. He recently added the Mercedes-AMG SLS Black to his collection, which boasts a price tag of £230,000. He also owns cars such as the Pagani Zonda 760 LH, a car made specifically for him (of course), and the McLaren P1, which is reportedly worth about US$1.15 million, according to F1 news site Racing News 365.

Fernando Alonso

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Estimated Net Worth: US$260 million

Spaniard Fernando Alonso has been competing in Formula One since 2001 for teams such as Renault, McLaren and now Alpine. He reportedly has a net worth of US$260 million.

According to Spotrac, an online sports team and player contract resource, Alonso makes US$20 million a year at Alpine.

He also earns his income from sponsorships and partnerships with Kimoa, Adidas, Bang & Olufsen and more.

Sebastian Vettel

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Estimated Net Worth: US$140 million

With four consecutive Formula One titles from 2010 to 2013, Sebastian Vettel is certainly a decorated driver and his net worth is evidence of that. According to South China Morning Post, Vettel is worth a whopping US$140 million. He reportedly earns a salary of close to US$40 million.

As one of the most successful F1 drivers of his generation, Vettel has invested in many green-energy companies across Europe and has a US$7 million farmhouse in Thurgau Canton, Switzerland.

He also has endorsements with brands such as Casio, Infiniti and Pepe Jeans.

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Topics

Lewis Hamilton Fernando Alonso Richest Formula One Drivers Formula One f1 Sebastian Vettel Nicholas Latifi Lance Stroll