What is Mercedes F1 boss Toto Wolff’s net worth in 2024, is he richer than Lewis Hamilton?
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Lewis Hamilton and Toto Wolff
Formula 1 is rightfully known as the pinnacle of motorsport. Toto Wolff and Lewis Hamilton were dominating the sport along with Mercedes for almost a decade. Their moment to shine began with the introduction of new rules for the sport’s turbo hybrid era, and the team was going strong until 2021. With a massively successful stint in the sport, both these personalities have amassed a large amount of wealth.
Whilst 7-time F1 world champion Lewis Hamilton is one of the highest-paid athletes in the world, it should be known that Mercedes team principal Toto Wolff is a businessman himself. Lewis has earned his money through F1 driver contracts with his team, along with a few investments here and there. However, apart from his F1 salary, a major part of his income comes from endorsements.
Toto Wolff, on the other hand, is a businessman like no other. The Austrian businessman owns 1/3rd of the F1 team, with the other two parts being held by Ineos and Daimler. This makes him the richest team principal in what could possibly be all of motorsport. The Mercedes team boss has also invested a lot in tech companies that have given him a huge dividends.
Mercedes team principal Toto Wolff has a higher net worth than his driver Lewis Hamilton
While some individuals might find this hard to believe, it really is something that will blow your eyes wide open. A team principal having a higher net worth than the driver is a very rare case. However, it is no surprise to seasoned F1 fans. You better not forget that the Mercedes team boss also owns 1/3rd of the team, and a bunch of investments has gotten him to the position that he is in today.
The Austrian Businessman has a net worth of about $1.6 Billion, as reported by Forbes, to Lewis Hamilton, who is worth $285 million. It is a substantial gap between the team principal and the driver, but it is what it is. While Lewis Hamilton earns a lot every season, he also likes to spend money to keep up with his lavish life. Toto Wolff, however, chooses to invest it back into his ventures.
It shows how crazy the world of Formula 1 is. You never know what to expect. One of the highest-paid drivers in motorsport, and his team principal is worth more than him. In the end, Toto Wolff is the businessman doing what he is passionate about, and such is also the case for Formula 1 legend Lewis Hamilton. Maybe Lewis should take some investment tips from his boss in order to increase his net worth.
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Varad Joshi
(940 Articles Published)