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.

• Read also: Verstappen set for record-breaking 2024 Super Licence fee

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.

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