The Business Book GP published the ranking of Formula 1 drivers’ salaries this season. The added salaries of all the drivers on the grid come down to a total of $163.5 million. The seven-time world champion, Lewis Hamilton, is also the highest-paid driver at the paddock and pockets a salary of $47 million.
How does prize money work in Formula 1?
The F1 distributes total profit to all the teams. However, drivers don’t receive any prize money because Formula 1 drivers are paid salaries by the teams they drive for. So is the money distributed evenly throughout the teams?
How much does the winner of the F1 Grand Prix get?
Mercedez won the constructors championship title that time and earned around $148.5 million. Meanwhile Ferrari earns a massive $208 million despite finishing second due largely in part to historic payments. There are as many as 26 points available to the winner of each Grand Prix – but it has not always been that way.
How much does Vettel make a year in F1?
Sebastian Vettel follows Hamilton’s $47 million with a total salary of $35 million. The four-time world champion is the second-highest earner on the grid, with Daniel Ricciardo being the third-highest earner as Renault pays him $20 million.
Is it worth it to race in F1?
Still, we can confirm the following: it pays to race. As with any popular industry, the biggest stars and talents earn the most and Formula One racing is no exception. For those who need a reminder: the autosport involves racing really (really, really) fast single-seater cars on behalf of your team.
Who are the owners of Formula One racing?
The “Formula One Group” as a business enterprise is currently owned by Liberty Media, and is listed on the NASDAQ as FWONK. The following is a breakdown of how Formula 1 as a sanctioning body makes its money, how F1 teams make their money, and lastly, how F1 drivers earn a living.
