Luckily, these guys know how to spend money.
Max Verstappen's Number 1 on the front of his car no longer only refers to his world champion titles. He's also Formula 1's top earner, with a reported salary of $55 million per year. Bargain.
Lewis Hamilton used to occupy the top spot (both driving and salary-wise) but has now dropped to third place, according to RacingNews365.com. The racing news outlet recently compiled a list of salaries based on what it heard from sources in the F1 paddock.
The list also states until when an F1 driver's contract is valid, and Verstappen has the longest. The Flying Dutchman will remain with Red Bull until 2028, two years after the new engine regulations come into play. He likely wants to see the situation after the significant rule change before deciding whether to retire.
In second place is Charles Leclerc, who recently received a pay bump to $36 million, which is one million more than Hamilton. Lando Norris makes a surprise entry in fourth place on $20 million. Norris signed a multi-year contract with McLaren early in 2022, expiring in 2025.
Carlos Sainz is on $12 million per year, followed by Sergio Perez and Valtteri Bottas at $10 million each.
That takes us down to the single figures, with George Russell on $8 million, even though he placed higher in the 2022 championship than his $35-million-per-year teammate. It is worth keeping in mind that Hamilton is the most famous F1 driver on the planet and is likely the main reason sponsors are willing to spend so much to get their names on his racing car. The same goes for Verstappen.
Fernando Alonso, Pierre Gasly, and Kevin Magnussen are all on $5 million per year, while Alex Albon is on $3 million. Nico Hulkenberg, Lance Stroll, and Zhou Guanyu are all on $2 million per year, while Yuki Tsunoda and Logan Sargeant will earn $1 million to compete in the 2023 season. One of the odd ones out is Nyck de Vries, who is already making $2 million during his rookie year. The Red Bull machine is clearly grooming this young man to be the next Flying Dutchman.
Equally odd is Oscar Piastri, also earning $2 million his first time out. Who knew McLaren had so much cash left to spend after it had to pay Daniel Ricciardo $24.3 million for ending his contract early? In case you missed it, Ricciardo is now back with Red Bull and has taken over from David Coulthard as the promotional driver. We're confident that's also a million-dollar contract.
Luckily, F1 drivers know how to spend money well. Max Verstappen owns a private jet and is reportedly getting an Aston Martin Valkyrie. Charles Leclerc has a collection of Ferraris, and the Mercedes gents will likely each get a new Mercedes-AMG One. We don't know what Logan Sargeant drives, but we're hoping the first American F1 driver in eight years owns a Corvette Z06.
Carlos Sainz finally bought a Ferrari. He still has his Volkswagen Golf, a gift from his parents when he turned 18. Sainz went all the way to the top and got himself a tailor-made 812 Competizione. The car took more than a year to build, and Sainz only received it this week. You can see the lovable Spaniard drool over his new toy below.
Keyword: Here's How Much Formula 1 Drivers Are Getting Paid In 2023