Richest Formula 1 Drivers in 2024

The seven-time world champion commands one of the largest salaries in the sport, often exceeding $50 million annually. His earnings are significantly bolstered by lucrative partnerships with Nike, Tommy Hilfiger, and Aramco, making him consistently the highest-paid driver.

The reigning three-time world driver champion has seen his salary skyrocket following his title wins. With Red Bull boosting his base pay significantly and major backing from Oracle and Honda, his total compensation rivals the highest in the paddock.

As the lead driver for Ferrari, Leclerc commands an estimated $40 million to $50 million annually. His high earning power is driven by his status as a marquee talent for the Scuderia and substantial personal sponsorship deals with Rolex and Puma.

After securing a multi-year contract with Ferrari, Sainz's salary jumped to approximately $40 million per year. His earnings reflect his consistent performance and reliability, complemented by endorsements with brands like Puma and Omega.

The two-time world champion enjoys exceptional financial leverage due to his veteran status and unique marketability. His contract at Aston Martin reportedly yields a substantial base salary, augmented by significant personal endorsements and his global brand presence.

Pérez earns a massive salary estimated at $30 million to $40 million annually, largely due to his role in securing Red Bull's title successes. His compensation is further enhanced by significant backing from Mexican and regional sponsors.

Norris's earnings have surged following his multi-year extension with McLaren, with reports suggesting a base salary nearing $20 million. His youthful appeal and on-track consistency have attracted premium endorsements from brands like Oakley and Hublot.

Despite being one of the youngest drivers, Piastri signed a lucrative deal with McLaren that places him among the higher earners. His compensation structure includes performance bonuses and significant marketing value for the team, attracting major sponsorships.

Joining Mercedes, Russell secured a contract that significantly boosted his earnings to an estimated $20 million annually. His steady performance and professional image have helped him attract partnerships with Petronas, BMW, and other high-profile brands.

Stroll's financial standing is notable due to the significant personal funding he brings to Aston Martin alongside his race pay. His estimated annual earnings exceed $10 million, bolstered by his father's investment and substantial personal sponsorship deals.

Ocon commands a solid salary at Alpine, estimated around $10 million to $15 million per year. His earning power is supported by consistent point-scoring performances and partnerships with French brands like Louis Vuitton and Castrol.

Gasly's tenure at Alpine has come with a compensation package estimated at $10 million to $15 million annually. His marketability in Europe and steady driving record have secured him endorsements with Puma and Alpine's corporate partners.

Tsukoda earns an estimated $3 million to $5 million at AlphaTauri (RB), with significant potential for increases based on performance. His earnings are supplemented by major Japanese sponsorships and his rising profile in the Asian market.

Even without a full-time seat for 2024, Ricciardo's overall net worth and earning potential remain exceptionally high due to past contracts and ongoing endorsements. His salary history from McLaren, AlphaTauri, and Renault remains among the highest for veterans.

Hülkenberg's return to a competitive seat at Aston Martin represents a significant step up in earnings, estimated around $8 million to $10 million. His reliability and experience allow him to command a premium as a seasoned race driver.

Magnussen's contract with Haas includes an estimated salary of $3 million to $5 million annually. While lower than the top tier, his earnings are boosted by his long-term relationship with the team and personal sponsorship opportunities.

As a rookie at Williams, Sargeant's base salary is modest, estimated at $1 million to $2 million. However, his earnings are significantly augmented by substantial personal funding and endorsement deals from his backing group and associated brands.

After moving to Alfa Romeo (now Stake F1), Bottas earns an estimated $8 million to $10 million annually. His vast experience and status as a former championship contender allow him to negotiate a highly competitive package for the Sauber team.

Zhou's contract with Stake F1 (Alfa Romeo) is estimated to be around $5 million to $8 million per year. His position is heavily supported by significant Chinese sponsorship and the team's strategy to capture the Asian market.

Lawson's interim and potential permanent roles provide earnings estimated in the $1 million to $3 million range. As a rising star, his compensation structure is designed to reward rapid development and performance in a competitive RB seat.