Who is the highest-paid Formula 1 driver? Some of the richest athletes in professional sports come from Formula One. While there are plenty of athletes clearing eight figures per year, some of the highest paid Formula 1 drivers have salaries that rival top players in the NFL and NBA.
Here, we’re taking a look at the highest-paid Formula 1 drivers from those just bursting onto the scene to the best F1 drivers in 2024. Formula 1 driver salaries are courtesy of Spotrac with driver net worths from Forbes.
10. Daniel Ricciardo – $7 million
Daniel Ricciardo is in the final year of his contract with Red Bull, which pays him a $7 million average annual salary. Turning 35 years old in July, Ricciardo hasn’t won an F1 race since the 2021 Italian Grand Prix and he isn’t even in the top 10 of the F1 standings in 2024. With Red Bull ee-signing Sergio Perez, Ricciardo’s future and his eventual 2025 salary are uncertain. For now, he’s one of the highest-paid Formula One drivers.
- Daniel Ricciardo net worth: $50 million (estimated)
- Daniel Ricciardo wins: 8
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9. Valtteri Bottas – $10 million
It’s been a few years since Valtteri Bottas was victorious, with his last win coming at the 2021 Turkish Grand Prix and it’s his only since since the start of the 2021 season. He’s earning a $10 million salary in the final year of his contract, with a return to Mercedes in 2025 having been floated. Whether he lands with Alpine, Haas or another team, one thing Bottas has made very clear is that he won’t be signing a one-year deal. Of course, long-term contract security might cost him some salary.
- Valtteri Bottas net worth: $30 million (estimated)
- Valtteri Bottas wins: 10
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8. Carlos Sainz Jr. – $12 million
One of the youngest among the highest-paid Formula 1 drivers, Carlos Sainz Jr won’t turn 30 until September. However, unlike some on this list, the Madrid native has recorded a win (Australian Grand Prix) in Formula 1 in 2024, giving him three consecutive years with a win. He’s also been near the top of the F1 standings this season, coming in a contract year. The recent success landed him contract offers from Sauber/Audi and Williams and once the new deal is finalized, he’ll remain one of the highest-paid drivers in the sport.
- Carlos Sainz net worth: $47 million (estimated)
- Carlos Sainz wins: 3
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7. Sergio Pérez – $14 million
Sergio Pérez is one of the many top-paid F1 drivers who doesn’t have a win in 2024. The 34-year-old last finished first in the 2023 Azerbaijan Grand Prix, but he did finish second in the F1 standings last year A six-time winner, Perez signed a new two-year contract with Red Bull in June.
- Sergio Pérez net worth: $75 million
- Sergio Pérez wins: 6
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6(t). George Russell – $18 million
George Russell, age 26, hasn’t been doing this nearly as long as some of the highest paid Formula 1 drivers so his net worth is lower. However, he’s making far more than some of his elders in the sport. Russell is poised to finish top-8 in the standings for the second consecutive year, which is quite the consistency for a driver with an even $18 million salary. With Lewis Hamilton leaving, Russell will be the guy at Mercedes in his contract year.
- George Russell net worth: $16 million (estimate)
- George Russell wins: 1
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5(t). Fernando Alonso – – $18 million
In the midst of his age-42 season, Fernando Alonso is doing more than enough behind the car to earn a new contract. In the final year of his deal, ALonso signed a new contract with Aston Martin in April that carries through the 2026 season. While terms of the contract weren’t disclosed, he should still be one of the 10 highest-paid Formula 1 drivers in 2025. Plus, his lifetime earnings make him one of the richest Formula 1 drivers.
- Fernando Alonso net worth: $260 million
- Fernando Alonso wins: 11
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4. Lando Norris – $20 million
Lando Norris already had one of the highest salaries in Formula 1 coming into the season. It’s proving to be quite the value contract, with the 24-year-old enjoying a phenomenal year. Norris recorded his first career F1 win in the Miami Grand Prix and he’s on pace to easily surpass last year’s finish in the F1 standings (6th place). McLaren signed Norris to a multi-year contract extension in January and that should prove to be one of the best decisions in 2024.
- Lando Norris net worth: $37 million (estimated)
- Lando Norris wins: 1
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3. Charles Leclerc – $34 million
Charles Leclerc is another one of the top Formula 1 drivers who signed a contract extension earlier this year, agreeing to a new deal with Ferrari. Just a few months after re-upping with Ferrari, Leclerc recorded his first win (Monaco Grand Prix) since 2022. The only thing currently known about the deal is it extends beyond the 2024 season.
- Charles Leclerc net worth: $125 million (estimated)
- Charles Leclerc wins: 6
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2. Lewis Hamilton – $45 million
It’s been three years since Lewis Hamilton last won a Formula One race (2021 Saudi Arabian Grand Prix), but he remains a star of the sport. In his age-39 season, the seven-time Formula 1 champion made the decision to leave Mercedes for Ferrari. Why? The decision is made a lot easier when someone offers you a contract worth around $100 million per year, which will more than double his current salary. Of course, Ferrari is also getting Hamilton’s marketability out of this and that in itself is worth tens of millions of dollars per year.
- Lewis Hamilton net worth: $300 million (estimate)
- Lewis Hamilton wins: 47
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1. Max Verstappen – $55 million
Max Verstappen is the highest paid F1 driver in 2024. Turning 27 years old in September, the most dominant driver in racing has good reason to be pulling in the biggest salary. Of course, Red Bull is elated to have him under contract for just $55 million per season given the deal Hamilton just landed from Ferrari. Plus, Verstappen is under contract through 2028. Putting Verstappen’s $55 million salary into perspective, he is tied for the highest-paid NFL player (JOe Burrow) and his salary would rank fifth among NBA players.
- Max Verstappen net worth: $210 million
- Max Verstappen wins: 59
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