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F1 Driver Salaries: How Much Do Formula 1 Drivers Make?

Formula One, often known as F1, is the pinnacle of racing, and it is no secret that the 20 drivers who compete make a lot of money. Have you ever wondered how much these world-class drivers make?

F1 Driver Salaries 2022

Max Verstappen, the Belgian-Dutch racing driver, and 2021 Formula One World Champion, is the world’s highest-paid Formula 1 driver, earning around $43 million.

Max races for the Red Bull Racing (RBR) team under the Dutch flag.

According to Radiotimes.com, seven-time Formula One world champion Lewis Hamilton is the second-highest paid F1 driver, earning almost $40 million each year.

F1 Driver Name

Team

Salary

Max Verstappen

Red Bull

$43 Million

Lewis Hamilton

Mercedes

$40 Million

Sebastian Vettel

Aston Martin

$15 Million

Sergio Perez

Red Bull

$8 Million

Daniel Ricciardo

McLaren

$15 Million

Lando Norris

McLaren

$5 Million

Valtteri Bottas

Mercedes

$10 Million

Lance Stroll

Aston Martin

$10 Million

Esteban Ocon

Alpine

$5 Million

Fernando Alonso

Alpine

$20 Million

Charles Leclerc

Ferrari

$12 Million

Carlos Sainz Jnr

Ferrari

$10 Million

Kimi Raikkonen

Alfa Romeo

$10 Million

Pierre Gasly

AlphaTauri

$5 Million

George Russell

Williams

$5 Million

Antonio Giovinazzi

Alfa Romeo

$1 Million

Mick Schumacher

Haas

$1 Million

Nikita Mazepin

Haas

$1 Million

Nicholas Latifi

Williams

$1 Million

Yuki Tsunoda

AlphaTauri

$0.75 Million

Introduction to the Overall Cost

Formula One has implemented a cost cap to ensure that all teams’ finances are on a level playing field. Each team has a $145 million spending limit for the entire season.

This sum solely applies to ‘performance-related costs,’ and does not cover the cost of producing the cars, mechanic and engineering salaries, testing, and so on.

Marketing charges, bonuses, travel and lodging expenses, and driver fees are also not included.

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Frequently Asked Questions

$0.75

Yes

43 million

Michael Schumacher

Yes

F1 tickets can cost anywhere from around $100 to thousands of dollars

For many years, drivers had a tiny water vessel in their cockpit with a long straw that led from the bottom of the vessel, through the driver’s helmet, and into their mouth, which was normally situated beneath the driver for weight distribution.

Yes, he was

$50 Million

40 million USD

This change has no effect on F1 driver salaries because teams can spend as much money as they want on their drivers.

This sum solely applies to ‘performance-related costs,’ and does not cover the cost of producing the cars, mechanic and engineering salaries, testing, and so on.

Marketing charges, bonuses, travel and lodging expenses, and driver fees are also not included.

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