Top 5 Richest Formula One Racers In The World Under 50

Formula One is one of the most expensive sports out there. Before the spending limitations were introduced, some teams would spend about $500 million over a season. The marvelous cars cost more than $10 million, and most teams spend significantly more than that on each F1 car. And the engine would cost over $200 million. With so much money being spent all around, the racers also rake in the moolah. Here are the world’s richest Formula One racers:

1. Valentino Rossi
   Estimated Net worth: $140 million 

   Valentino Rossi, a renowned Italian professional motorcycle road racer and multiple MotoGP World Champions, holds a unique achievement in the sport. He stands as the sole rider in history to have clinched the World Championship in four distinct classes. However, as time goes by, plans change. Valentino Rossi is now a retired motorcycling legend and has recently made a remarkable transition from two wheels to four, intensifying his pursuit at Le Mans. With his sights firmly set on the upcoming races, the 44-year-old Italian, a seven-time MotoGP world champion, takes the opportunity to familiarize himself with the iconic Sarthe circuit. 

2. Jenson Button
   Estimated Net worth: $150 million 

   Jenson Button was a Formula One driver for 17 years, starting his journey with Williams in the 2000 season. An impressive achievement in his career was winning the 2009 Formula One World Championship with Brawn GP. When he joined McLaren in 2010, his annual salary was believed to be around $16.5 million. While that contributed significantly to his net worth, he’s still adding to it by working as a commentator for Sky Sports and as a senior advisor to the Williams racing team. 

3. Kimi Räikkönen
   Estimated Net worth: $150 million 

   Kimi Räikkönen had been racing in Formula One from 2001 to 2021. Over his twenty-year career, he has raced for Sauber, McLaren, Ferrari, Lotus, and Alfa Romeo. His only Formula One World Championship win came in 2007 while driving for Ferrari. The Iceman has had endorsement deals with iLOQ, Oakley, Wrangler, and Singha. Thanks to his earnings as a Formula One driver and sponsorship deals, Kimi used to earn around $50 million a year at the peak of his career. Räikkönen’s real estate investments include a posh beach-facing property in Thailand and a $24 million house in Switzerland. 

4. Fernando Alonso
   Estimated Net worth: $240 million 

   Fernando Alonso started his FormulaOne career in 2001 and has raced for McLaren, Renault, and Alpine so far. The two-time Formula One World Championship is one of the most legendary F1 drivers. After all, he was the one who stopped Michael Schumacher’s run of five consecutive world titles. He earns around $1 million every year thanks to endorsement deals with Adidas, Citibank, and Pirelli. And he also launched his streetwear brand, Kimoa, in 2017. He does make quite some money from Kimoa. 

5. Lewis Hamilton
   Estimated Net worth: $285 million 

   Having begun his Formula One career with McLaren in 2007, he won a Formula One World Championship the following year. He was just 23 then, making him the youngest driver to win the Formula One World Championship. Although Sebastian Vettel broke this record in 2010, Hamilton has gone on to win six more Formula One world titles. Hamilton holds the record for the most races won by a Formula One driver, having won 103 races so far. He also has 183 podium finishes so far in his career, a Formula One record. For the last 15 years, he has been focusing on his career, and he has pocketed large sums by racing for McLaren. But he earns about $12 million every year by endorsing brands such as Bell Helmets, Bose, Gran Turismo Sport, Monster Energy, Petronas, Sony, etc.

Have you read?
The highest-paid tech CEOs in the United States.
Highest-Paid Biopharmaceutical CEOs in the United States.
Executive Pay: Top 8 Highest-Paid Hotel CEOs.
Openly LGBTQ CEOs at the helm of major global companies.
Top countries that admire their CEOs and other C-suite leadership teams the most.
Top Women CEOs of America’s largest public companies (2023 List).