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How much do Formula One drivers earn currently – Here are the top 5 earners

Lewis Hamilton pre-season stream f1 2020 test drivers earn formula one
Lewis Hamilton in the 2020 Mercedes (Getty)

Formula One is the highest class of single-seater auto racing

As it is the case with any other popular industry, the biggest stars and talents earn the most salaries and Formula One (F1) is no exception.

F1 is fast and by fast it’s not as easy as it sounds. The sport which involves the highest class of single-seater auto racing is one of the riskiest sports around.

However, the adrenaline rush that comes with the game adds to appeal, making it one of the most followed sports around the globe.

Lewis Hamilton pre-season stream f1 2020 test
Lewis Hamilton in the 2020 Mercedes (Getty Images)

Hence, it is no wonder that money plays a big role in this sport where fast cars made of higher-grade technology play a pivotal role.

Having said that let’s take a closer look at the salaries of the top-five players in the circuit.

1. Lewis Hamilton (Mercedes) – £40,000,000

A six-time F1 champion, Hamilton is one of the greats of the auto-sport. The British driver is defending world champion – a position which he has held onto for the past three consecutive years.

The first and only black driver in the history of F1, Hamilton currently holds the following records: most career points of all time, most pole positions of all time, most grand slams in a single season, and most points in a single season.

Lewis Hamilton
British F1 defending champion Lewis Hamilton of team Mercedes. (Getty Images)

With a list as glittering as that it is no big wonder Hamilton currently tops the chart in the list of F1 drivers earning the highest salary.

At the moment he holds a two-year contract with Mercedes, which is set to expire at the end of this year.

2.Sebastian Vettel (Ferrari) – £40,000,000

Starting his career as a test driver, German, Vettel soon managed to become the youngest pole-sitter and race winner in F1 history. His major achievements came when he drove for Red Bull, with whom he won four F1 titles in a row.

Day two pre-season testing F1 2020
Sebastian Vettel takes the SF1000 for a spin at Barcelona (Getty)

However ever since he signed for Ferrari in 2015, Vettel’s career has never been as consistent as before.

Despite that, he still is one of the best drivers in the circuit, almost in par with the in-form man Hamilton which makes him the F1 driver with the second-highest salary in the sport.

3. Daniel Ricciardo (Renault) – £26,500,000

Another top talent in the sport, Australian Ricciardo, who drives for Renault has seen a slump in form and is currently 11th in the list of drivers standings this year.

Daniel Ricciardo Lando Norris helmets
Renault’s Daniel Ricciardo (right) and Lando Norris (left) during a press conference (Getty Images)

Ricciardo left many fans baffled when he signed a two-year contract with Renault in 2018. The Australian at the moment earns a salary of £26,500,000 per year, which is much higher than what he was earning with Red Bull.

However, his recent performances do not reflect upon his salary and he finished a mere 9th with a tally of 54 points by the end of 2019 season.

4. Max Verstappen (Red Bull) – £10,000,000

Belgian-Dutch driver Max Verstappen attained a rare feat when he became the youngest driver to compete in F1 history aged just 17 in the 2015 Australian Grand Prix. Still just 22, Verstappen currently does not hold any World Championship title but has plenty of time to do it with the talent that he possesses.

Verstappen switched to Red Bull in 2016 after starting his career with Toro Rosso. His performances have improved since then and he finished with a career-best third-place finish in the 2019 season.

Max Verstappen Dutch Grand Prix Drive to survive  formula one drivers earn
Max Verstappen is one of the best young drivers in Formula One (Getty Images)

According to a recent announcement, he extended his contract with Red Bull until the end of 2023. With the displays that he has been putting up in the circuit, it would be no wonder to see the youngster become one of the highest-earning racers in the sport.

5. Valtteri Bottas (Mercedes) £6,500,000

Hamilton’s partner at Mercedes, Finnish driver Valtteri Bottas doesn’t earn as much as his British counterpart. However, he does earn a lot compared to the rest of the guys in the circuit.

Lewis Hamilton and Valtteri Bottas formula one drivers earn
Lewis Hamilton and Valtteri Bottas celebrate another title for Mercedes (Image credit: Getty)

Also, it was a wonderful season for Bottas last year as he made it his most successful season finishing behind teammate Hamilton in second place. He registered an overall 4 wins, 15 podium finishes, 5 pole positions, and 3 fastest laps making it his best ever performance to date.

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