F1 News, Reports and Race Results

Verstappen also reigns supreme in F1 top-10 salary ranking

Max Verstappen was virtually untouchable on the race track this year, but the Dutchman also claimed - unsurprisingly - the title of the highest-paid driver in F1, according to Forbes.

The Red Bull Racing driver reportedly accumulated an estimated $70 million in salary and bonuses for his unwavering efforts in 2023, a testament to his unparalleled success and the immense value he brings to the sport.

Verstappen's remarkable tally marks his second consecutive year at the top of the financial podium, solidifying his position as the series' top earner.

Lewis Hamilton, a decade-long stalwart at the pinnacle of F1 earnings, was relegated to second place in Forbes’ top-ten ranking with an estimated $55 million retainer forked out by Mercedes.

Of course, it's important to note that F1 driver salaries are a highly confidential matter, and the figures mentioned by Forbes – which don’t include income from endorsement deals or personal sponsorship – should be considered as educated ‘guestimates’ only.

Forbes claims that the combined earnings of the top 10 F1 drivers in 2023 dipped slightly from the previous year's $264 million, settling at an estimated $258 million.

Despite the slight drop, the $258 million figure highlights the immense financial allure of Formula 1, attracting top talent and driving the sport's global popularity.

As Verstappen continues to redefine the boundaries of performance, his financial dominance is likely to remain unchallenged for the foreseeable future.

For now, driver salaries are not included in F1’s cost cap provisions, although the idea of capping retainers has been floated around in the past.

“Clearly that is a big differentiator today, that big teams can just offer much bigger salaries to drivers,” Mercedes team principal Toto Wolff told Forbes at the U.S. Grand Prix last October.

Here’s is Forbes’ run-down of the top-ten highest paid F1 drivers, taking into account each individual’s basic salary and possible bonus.

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.

Recent Posts

How loss and trauma fueled Toto Wolff’s success in F1

Toto Wolff, the guiding force behind Mercedes' dominant era in Formula 1, has offered a…

12 hours ago

Long-serving McLaren chief mechanic joins Aston Martin

Long-serving McLaren chief mechanic Marc Cox has announced his departure from the team after 17…

14 hours ago

Rosberg: Hulkenberg‘s talent undone by ‘burned bridges'

Nico Rosberg believes his countryman Nico Hulkenberg has showed glimpses of absolute genius in F1…

15 hours ago

Horner: All signs pointing to ‘fantastic’ F1 season in 2025

As Formula 1 heads into 2025, Red Bull Racing team principal Christian Horner is gearing…

16 hours ago

The day Love failed in Kyalami

Kyalami put itself on the Formula 1 map on this day in 1967, the historic…

18 hours ago

Button feeling 'reborn' - ‘absolutely loving’ racing in the WEC

Jenson Button says he absolutely loved racing in the World Endurance Championship last season with…

18 hours ago