Formula 1’s Highest-Paid Drivers 2024

Max Verstappen is the number one F1 driver after beating Lewis Hamilton in last season’s championship. The win, however, was on a fragile line, which was also the second title he carried home this season. Max, racing for Red Bull, is also the new threat to the Mercedes driver regarding net worth.

In 2022, Forbes estimated that The 25-year-old was the best-paid F1 driver, with a total of about $60 million from his bonuses and salary. Although he has ranked top as the best-paid F1 driver since 2013, in 2023, his salary dropped by $5 million, making him second in line in his earnings.

Alpine’s Fernando Alonso was the last driver to beat Hamilton in the earnings leaderboard. Forbes estimates he makes about $30 million, making him 3rd in line this year after Hamilton. 

He is followed by Sergio Pérez, who makes about $26 million, and Charles Leclerc, driving for Ferrari, earning $23 million.

The ten most paid F1 drivers make about $264 annually, a 25% top-up since 2021’s estimation. These numbers were recorded during the current season.

The Highest-Paid F1 Drivers 2022

In these numbers, the amount drivers make from endorsements is not included, as F1 rarely introduces its drivers to new opportunities. At least compared to the kind of opportunities NBA and Tennis offer their players. 

Most teams do not pay much attention to endorsements and appearances. They should show up on behalf of their team or sponsors. 

Few drivers make more than $1 million; even the guru drivers have yet to hit the $10 million Mark. Hamilton makes $8 million from endorsements, while Verstappen makes $2 million, according to Forbes 2022.

As the F1 series keeps growing, it is assumed that the driver’s payday will keep growing. 

F1 recently introduced a budget limiting the teams’ money from about $350 million to a maximum of $135 million. As a result, Red Bull, Marcedes, and Ferrari had to control and readjust their budgets to meet the new standards. 

They would spend up to $400 million without complaints in previous years. 

However, even though they introduced the budget limit for research, design, and other costs, their driver’s salaries were not part of the expenditure. Hence, the team owners had a chance to splash their extra millions on their drivers as salaries.

There is a chance the driver’s salaries will keep increasing as the brands look for a competitive advantage even with the new limits.

The increased salaries will act as a mitigation for the drivers to push beyond their limits to retain and cross over their positions.

Max Verstappen


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Verstappen ended 2022 in style. He won 15 races before he landed himself a new fancy contract. His wins have set the F1 record after he polices himself 146 points in driver standings. He was the first driver to win for Red Bull, dethroning Marcedes, who had reigned for eight years straight. 

Lewis Hamilton


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Hamilton, the F1 guru, has maintained his title as the best F1 driver for about four straight years(2017-2020). However, his expertise was trialed in 2022 when he was dethroned to the 6th position. In addition to the vast drop, 2023 was the first year that Lewis completed without a win in 16 years as an F1 driver. 

Hamilton recently bragged about his new fancy contract with Mercedes once he completes the current contract, watering down rumors of his retirement. However, even if he decides to retire, he has enough businesses to keep him occupied through his retirement. 

He created X44, an Extreme E series popular off-road racing group. The guru driver also owns some shares in the NFL’s Denver Broncos. Recently he shocked everyone when he opened his TV production center, Dawn Apollo Films.

Fernando Alonso


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Before his recent race, Alonso had avoided racing for two years. Although they came in 9th in line, we expect him to replace Vettel in Aston Martin, who’s diving into retirement in 2023. He is set to meet with his Abu Dhabi team once the season ends.

Sergio Pérez


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Sergio Pérez has been the star among the Red Bull drivers for the longest time, but his teammate Max Verstappen will not stop at anything to steal Perez’s thunder.

As the season finale ended, there was a tie for the second position between Sergio and Charles Leclerc. However, in the recent race in Abu Dhabi, Leclerc threw him out of the race with three points ahead. 

And when he has strong standings, Max stole his thunder after he won the penultimate race, leaving him nearly unaccomplished the whole season. 

Charles Leclerc


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Winning the first three races of last season got Leclerc second in line in the drivers’ standings after a stiff competition with Sergio Perez, who was racing for Red Bull. 

His contract gave him an allowance of three years to snatch a title, but clearly, he shocked them when he did it three years before time. 

He promised to prepare adequately to take home the championship at the end of the season. 

Sebastian Vettel


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Better, having won the championship in four F1 seasons, he has finally decided to resign. Although he hasn’t brought any wins since 2019, he leaves a record of 53 wins ranking him the 3rd best F1 driver. 

Daniel Ricciardo


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It’s the new season, but Daniel needs a team to ride for; Ricciardo has signed him but dropped his contract for the 2023 race, but dropped him in September, leaving him open for the season.

Rumors are he might start to race for Mercedes or Red Bull, but he’s more focused on the F1 film he’s producing on Hulu. 

Carlos Sainz


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Sainz sank to fifth in the driver standings, but his strong start to the season helped him secure a two-year contract extension in April, keeping him at Ferrari through 2024. He also notched his first win at the British Grand Prix in July.

Lando Norris


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Lando outdid himself in 2021 when he claimed four podium finishes and his first pole. And because of that, McLaren extended his contract to be renewed in 2025.

The glory did not last long when he was pushed to the 7th position in 2022, but we still expect to see him in 2023 with Oscar Piastri. He is a young talent with several championships waiting for him to take them home. 

George Russell


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George is racing for Mercedes; in July, he finally won for the first time and claimed a maiden pole position in San Paulo. With that, he beat his teammate, Lewis Hamilton, the F1 champion, at number 4 standings.

How Much Will Each F1 Driver Earn in 2023?

Most F1 drivers earn between 10-20 million dollars. However, out of the 20, 18 are expected to make at least 25 million dollars.

Nyck De Vries and Oscar Piastri are the drivers who make below 20 million dollars. Still, Vries’ current salary is hanging on a thread following a court case that may take his job away.

AlphaTauri and Logan Sargeant are the least paid drivers making about 10 million dollars. 

Valtteri Bottas is the only F1 driver who came in below position 15 in the 2022 championship yet earns as much as the top 10 champions. Most sources have estimated that he earns as much as Perez makes. 

The drivers will likely retain their position in the wage bull as those expected battles for a wage rise have settled their contracts. 

Sources claim that Fernando recently got a decrease in his salary by about $25 million. Alpine paid him $30 million in 2022, but his shift to Aston Martin dropped his payslip to $5 million. 

His son Lance makes about $40k weekly, which is quite a large sum.

Verstappen is the best-paid driver bragging about a whopping $$55 million paycheck. Sources estimate that he makes more than any other teammates combined. Mercedes is next in line after splashing $43 million on Russell and Hamilton.

Ferrari finalizes the top 10 list.

Why Are F1 Drivers Weighed?


All F1 drivers much get their weight checked after every official race; here’s why 

In the F1 rules, every weight rise or drop in any of their drivers is essential. However, the most significant news any F1 driver could receive is that they have lost weight because they can drive faster. 

After 2019, the F1 recently gave a minimum weight line that every driver must cross to race in their series. While it favored some, it was a complex task for those with minimum weight. 

After 2019, the series introduced a rule that ensured all drivers reach 80 kgs to participate in the F1 championship. 

Interestingly, not many drivers have hit the 80kg Mark, giving them a hard time reaching the limit, and hence have to apply ballast to balance the weight. They then measure the car’s and driver’s weights to ensure they have surpassed the minimum weight. 

They are checked as a protocol to ensure the drivers are adhering to the weight limits, as the F1 series does its best to balance the car weight. 

A secondary reason!

Part of why drivers measure their weight is to see how much weight they have lost during the rough races. The record is to guide the drivers on how much water they have lost in the race and the best way to refill them to optimum levels in readiness for the next season. 

Mist drivers lose about 2.5 kgs per race in average temperatures. But when racing in hotter areas, they lose more than that, sometimes up to 4 kgs.

Why Are F1 Drivers Weighed?

After every race, you will see all drivers circling up to the weighing scale to have their weight checked and recorded. Several reasons inspire the weight check;

The drivers are measured for two reasons. The main reason is to check how much fluids they have lost during the race and to see the best way to top up the lost fluids. Secondly, the check is to ensure the cars are functioning with the appropriate weight for the safety of the drivers.

Read along for more information on why F1 drivers get their weight checked, the rules regarding F1 drivers’ weight, and the amount of weight drivers lose with each drive.

Why Do F1 Drivers Get Their Weight Taken?

They are measured for both technical and medical reasons;

Medical reason: the drivers are weighed to find out how much water they have lost in the race and the best solutions to restore the fluid levels. On average, each driver loses about 3 kgs per race. 

3 kgs is a lot of fluids to shed in just 2 hours, which they mostly lose from sweating because of the high temperature in the cars. Therefore, doctors are always in check to see the best ways to restore the water and the weight lost In the race.

It’s essential to check the driver’s weight to ensure they are functioning in optimum health. If they have shed unusually more than usual, doctors will recommend that the drivers lower the intensity of their practice to give their bodies enough time to recover.  

Technical reason: All F1 cars and their drivers must maintain a minimum of 764 kgs during the race to ensure they stay stable throughout the race. Therefore the drivers and the vehicles are measured to ensure the weight has remained below that level during the race.

F1 cars have recently been improved, which in return has added to their weight level. Therefore both the vehicles and their drivers must maintain their weight for safety.

Drivers are weighed before their cars to give enough time for interviews, celebrations, and measures to consider their weight back to optimum. 

Does Weight Matter in F1?

If you’ve got to run 100m with bricks on your back, in competition with your friend who doesn’t have a bag? Who should we expect to reach faster? Your friend will complete the race more quickly. 

F1 advises that their cars remain as light as possible to avoid falling behind. The F1 race is all about speed. So, the weaker car, the better for the F1 driver.

After 2019, F1 implemented a weight limit on the drivers that they shouldn’t go below. However, any weight above that is fine. At least not for the F1

What Are The Rules Regarding Driver Weight In F1?

The F1 states that all drivers must be above 80 kg as they compete. Anyone below that will have their cars topped with ballast for their safety during the race.

F1 implemented the 80kg rule in 2019; no weight rules existed before that. The main essence of the law is to balance out all the drivers and to ensure the safety of the drivers. Drivers below that weight had a competitive advantage compared to the drivers above that, as they were much lighter in the race.

A good example is Tauri’s minimum weight. In a usual case, we expect him to have a much more significant advantage since he’s much smaller compared to the other drivers who weighed up to 100 kgs. The new rule is to even out all drivers such that all compete on equal ground.

Heavy drivers had to eat much less from many sources to remain light during the races. However, it made them feel much weaker during the races as their glucose levels were much lower. 

Many other drivers supported that rule, giving all drivers an equal competitive advantage. To sum it all up, the heavier drivers had their burden to eat less taken off, which was quite a relief for most of them. Most drivers were risking their lives and general health by eating much less. 

Average Weight Of Formula 1 Driver

The weight of the F1 drivers has not been recorded publicly. However, the importance of the F2 drivers was recorded on the f2 website, so it’s easier to trace it. But since the F1 website has not registered their drivers’ weight, it’s hard to estimate what they weigh.

As for the F2 drivers, Yuki Tsonoda weighs the least among his team with 54 kgs, while Hamilton is the heaviest with 73 kgs. We estimate that most F1 drivers weigh between 65-70 kg, but we expect the shorter ones to weigh much less. 

The race gear adds a whopping 1.2 kg to their weight. So the drivers must maintain between 75-77 kgs to have an easy time during their races. 

How Much Weight Do F1 Drivers Lose During A Race?

All kinds of sports are intense for their players. However, F1 races are a bit heavier than usual on their drivers because of the extreme g-forces. ( the impact on their health is enormous, making them lose much weight with each race).

The F1 drivers also wear heavy gear, unlike in other sports where the players wear shorts and Shirts made from the lightest materials. The rich, fireproof, and thick equipment contributes to the weight they lose in the races.

With the cumbersome suits, the drivers are also expected to wear inner clothing made of the same fireproof material—all that summed up results in about 50 degrees Celsius in the cockpit.

With the extreme temperatures, you can expect the drivers to lose an average of 2.5 kgs with each race from the sweat. And in scorching areas, you can expect the drivers to lose up to 4 kgs. So drivers must maintain a healthy diet and remain hydrated throughout to restore their health in check.

How Many Races Are There?

2023 was meant to set a new record with 24 races, but when the F1 canceled the Grand Prix in China, the number was reduced to 23, which is still a new record. Between the Bahrain race and the season finale on 26th November, there are 15 weekends, excluding the Grand Prix.

F1 will have the first grand prix in Las Vegas on 18th November.

There’s a Race in Vegas

F1 has recently decided to host the Grand Prix in Las Vegas this season. With Las Vegas being a world-class strip, F1 will give Las Vegas a new identity.

The penultimate round will start at 10 PM on Saturday, and the races will kick off on Sunday morning.

Vegas is about to be the new F1 spot. It’s after they signed a new deal to host F1 for the next three years, although it’s rumored that the plan is to have Vegas host F1 for the next ten years.

The F1 renovations in Las Vegas have become among the most incredible landmarks the city has ever seen. Las Vegas hopes for a lifelong partnership with F1.

What Other Races Should I Look Out For?

F1 will be back in Miami for the second time after they signed a new 10-year contract with Las Vegas. F1 says that the fans should expect developments like enough space to cheer on their favorite car. They also decided to transfer the race to the Hard Rock stadium with enough space to cheer on. 

That way, the fand gets the live coverage standing on the grandstands; the stand is set to be constructed in preparation for the 2023 series.

Will Max Verstappen Walk the Season Again?

Red Bull has a strong team for the season, with Verstappen being part of the unbeatable team. Red Bull’s rivals are in for a ride this season. However, the silver lining for their rivals is the wind tunnel penalty Red Bull got last season after they disobeyed the cost limit in 2021.

Is This Lewis Hamilton’s Last Season in F1?

We don’t think so. Hamilton recently received an offer from Mercedes that runs through the end of 2023. His recent interview says otherwise, although he sparked rumors that he might walk away.

Hamilton is set to reclaim his title, which he lost in 2021, although he sent out a great fight. So it’s unlikely that he’ll go. We expect to see him reclaim his title this year as he races for Mercedes. 

Will Ferrari Get Their Act Together With a New Team Principal?

That’s what everyone is hoping for. Although their previous principal was likable, his administrative role still needed some polishing.

Recently Ferrari got a new boss, Fred Vasseur, who displayed that he is ready to make further adjustments and replace anyone who needs to get their act together.

 He recently moved the chief strategist to the factory to meet expectations and immediately found his replacement.

The team Ferrari had last season was also part of their underperformance then. Therefore the new boss has promised to make adjustments to the team with each season. 

There was also a challenge that the cars did not perform as expected, and their tires needed a fix. Let’s hope that Ferrari has a backup plan for the season.

Can Fernando Alonso Win This Year?

He has no chance with giants like Ferrari, Mercedes, and Red Bull in the race. The car looked incredible in the trial period, but no way he’ll go from a mid-racer to up of the list in such a short time.

That said, nothing is impossible in the F1 race. With random wins in the series, you can be sure that Alonso is set to take advantage of any weaknesses of the other teams. 

With a decade record of no win, plus a middle-level car, it’s likely that he will be far from the top this season. Ten years of making moves and a semi-competitive ride are all the evidence you need to be sure he’ll not make it top this year.

Films on Netflix show that F1 is no exception in politics. What will make headlines this season?

President Mohammed Ben Sulayem has been making ignorant comments in the media after he recently limited the kinds of political comments drivers can make while racing at the F1. We can already smell politics from afar.

We weren’t sure of the level of politics when racing in Bahrain after Mohammed announced that they would not be taking part in the day-to-day decisions of F1; you can approximate how severe the penalties for the drivers will be if anyone crosses the comments boundaries, Ben placed on political commentaries. 

F1 will likely introduce an 11th team. The Andretti family hopes to join F1 as they race for Cadillac in season 2026. No one is willing to share their cookie. If Andretti drops a large anti-dilution, the team should consider it. 

Who Are the Breakout Star Candidates for 2023?

Most Americans hope that the first F1 driver from the USA, Logan Sargeant, will make a name for himself, having raced for eight years. However, the truth is that his ride will not likely make it past the test stage that qualifies the drivers for the rest of the season. He must break a leg to make it top 10 this season. 

Top 10 is unlikely, but if he does well, he will raise the hype around USA and F1 competition. However, if you are looking for a rising star to bet on, your coins are safer with Oscar Piastri.

McLaren replaced Daniel Ricciardo after he won a stiff competition for Australia’s services during the summer break of 2022.

Lando Norris confirms that the competition is stiff but even worse with the McLaren MCL60. 

Finally, F1 introduced a new driver to the list; Nyck de Vries, a Formula E giant in the 2021 series. He is expected to join F1 in 2023 and team up with AlphaTauri.

The Formula E champion has loads of experience and is expected to kick off and Mark his spot as an F1 champion.