Formula 1 is one of the most exciting sports in the world – and perhaps the most lucrative.
Money fizzes through the sport like podium champagne with even reserve drivers commanding six-figure salaries.
As for the top dogs? Well, you can safely add another couple of decimal places to their pay packet.
We’ve rounded up the highest paid Formula 1 drivers in 2024. Expect household names and big, big numbers.
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Max Verstappen - Red Bull Racing - $55 million
Photography by Vladimir Rys | Grooming by Gemma Lusty | Clothing by AlphaTauri
Max Verstappen has been a figure of authority on the F1 circuit since claiming his first world title in 2021.
The Dutchman holds the record for most consecutive wins in the sport, as well as being the youngest F1 race winner. An accolade he claimed at merely 19.
It should therefore come as no surprise that the Red Bull driver is the highest-paid athlete in the sport.
The current world no.1 is on a base salary of $55 million, excluding the countless bonuses he will pick up through the season.
Read our interview with Max Verstappen
Lewis Hamilton - Mercedes - $45 million
Photography by Pascal Kerouche | Stylist: Alicia Sereno | For IWC
One of the most well-known names in the world of F1, Hamilton has driven with Mercedes since 2013, an 11-year tenure which will end shortly.
During his time with Mercedes, he has become one of the most accomplished drivers in history. Winning a joint record seven Formula One World Drivers' Championship titles.
2025 will see Hamilton join Ferrari in a lucrative deal, however, his exact salary remains undisclosed as of yet.
Read our interview with Lewis Hamilton
Charles Leclerc - Ferrari - $34 million
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Leclerc has been driving with Ferrari since 2016 – the same year he made his F1 debut.
The last two years in particular have proven to be successful for the Montenegran. He has finished 2nd and 5th in the F1 driver standings for 2022/23 respectively, and is currently 3rd for the 2024 season.
His deal with the Prancing Horse is set to last until 2029. During his time he will hope to pick up more titles with the team that has helped him skyrocket into stardom.
Lando Norris - McLaren - $20 million
One of the youngest drivers on the F1 circuit at the moment, Lando Norris is also one of the highest-paid.
Norris has spent the entirety of his professional career with McLaren and despite having won no championships as of yet, is their most senior driver.
Being their senior driver whilst so young speaks to the raw talent and drive of Norris, who has years of untapped potential as an F1 athlete.
Read our interview with Lando Norris
George Russell - Mercedes - $18 million
Richard Pardon
2017 marked George Russel’s signing to Mercedes, when he joined their junior drivers program.
Since then he has gone on to become one of their staple drivers, currently driving alongside Lewis Hamilton.
Russel’s first and lone race win came in 2022 when he upset the competition at the Brazilian Grand Prix. The Englishman has made the podium 14 times since his debut and has a lot left to give in his career.
