Ever wondered how much the top Formula 1 drivers earn? In 2024, the salaries of F1’s biggest stars continue to reach astronomical heights. From reigning champion Max Verstappen to the seasoned Lewis Hamilton and rising talents like Charles Leclerc, here’s a breakdown of who’s making what in the world of Formula 1.
Max Verstappen Leads the Pack
Max Verstappen, the three-time world champion, reigns supreme not only on the track but also in earnings. Racing for Red Bull Racing, Verstappen commands an eye-watering salary of $55 million annually, setting a new benchmark in the sport.
Lewis Hamilton’s Switch to Ferrari
Lewis Hamilton, a seven-time world champion, is currently in his final season with Mercedes, earning $45 million per year. However, starting next season, Hamilton will don the red of Ferrari under a groundbreaking $100 million per year contract, bonuses included.
Charles Leclerc’s Long-Term Deal
Charles Leclerc, the talented driver at Ferrari, secured a long-term contract that guarantees him $34 million annually until 2028, showcasing Ferrari’s commitment to their young star.
Other Notable Salaries
- Lando Norris (McLaren): $20 million annually until 2025.
- George Russell (Mercedes): $18 million per year through 2025.
- Fernando Alonso (Aston Martin): $18 million for the 2024 season.
- Checo Perez (Red Bull Racing): $14 million for 2024, with an extension secured until 2026.
Mid-Field and New Drivers
- Carlos Sainz (Ferrari): $12 million for the 2024 season.
- Valtteri Bottas (Stake F1 Team): $10 million annually.
- Daniel Ricciardo (Visa Cash App RB): $7 million per year.
Further Breakdown
- Esteban Ocon and Pierre Gasly (Alpine): $6 million each.
- Oscar Piastri (McLaren): $6 million until 2026.
- Kevin Magnussen (Haas F1): $5 million for 2024.
Lower Salaries in the Grid
- Alex Albon (Williams): $3 million for the season.
- Lance Stroll (Aston Martin): $3 million with an open-ended contract.
Smaller Contracts
- Nico Hulkenberg (Haas F1): $2 million for the 2024 season.
- Zhou Guanyu (Stake F1 Team): $2 million per year.
The Bottom Tiers
- Yuki Tsunoda (Visa Cash App RB): $1 million for 2024.
- Logan Sargeant (Williams): $1 million annually.
Super License Costs
Max Verstappen holds the record for the most expensive super license, paying €1.2 million for 2024, reflecting his stellar performance and point accumulation.
The salaries of Formula 1 drivers in 2024 highlight not only their driving prowess but also the immense financial stakes involved. From Verstappen’s record-breaking earnings to Hamilton’s blockbuster move to Ferrari, each season brings new intrigue both on and off the track.
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