What will F1 driver salaries be like in 2022? With enormous contracts, Lewis Hamilton and Max Verstappen are the highest-paid men in Formula One.
Formula One is a major industry, with millions of dollars riding on each season’s results. Automobiles are expensive pieces of machinery in and of themselves.
Each race is a chance for the drivers to show that they are deserving of their spot on the grid and the money that comes with it.
Who earns the most money every year?
- Lewis Hamilton (Mercedes) — $40 million
- Max Verstappen (Red Bull) — $35 million
- Lando Norris (McLaren) — $20 million
- Fernando Alonso (Alpine) — $20 million
- Sebastian Vettel (Aston Martin) — $15 million
- Daniel Ricciardo (McLaren) — $15 million
- Charles Leclerc (Ferrari) — $12 million
- Carlos Sainz (Ferrari) — $10 million
- Valtteri Bottas (Alfa Romeo) — $10 million
- Lance Stroll (Aston Martin) — $10 million
- Sergio Perez (Red Bull) — $8 million
- Kevin Magnussen (Haas) — $6 million
- George Russell (Mercedes) — $5 million
- Esteban Ocon (Alpine ) — $5 million
- Pierre Gasly (AlphaTauri) — $5 million
- Alexander Albon (Williams) — $2 million
- Nicholas Latifi (Williams) — $1 million
- Mick Schumacher (Haas) — $1 million
- Guanyu Zhou (Alfa Romeo) — $1 million
- Yuki Tsunoda (AlphaTauri) — $750,000
*All salaries via Spotrac
Lewis Hamilton is the highest-paid driver in Formula 1, according to Spotrac, although Max Verstappen recently signed a long-term agreement, bringing his salary closer to that of his title competitors. He’ll remain under Red Bull’s contract until 2027.
However, because F1 driver salaries aren’t publicly available, we can only rely on reports about the worth of those contracts and renewals.
According to reports, Verstappen might earn as much as $50 million this season. However, further facts concerning his contract will need to emerge before that can be said with certainty.
In any case, the disparity between the lowest and highest earners is significant. Yuki Tsunoda, Guanyu Zhou, and Mick Schumacher are still getting their feet wet in Formula One. Tsunoda and Schumacher are both second-year drivers, while Zhou is a rookie.