Formula One, the pinnacle of motorsport, is not just a thrilling competition of speed and skill but also a lucrative arena for the world’s top drivers. In 2023, the highest paid Formula One drivers enjoyed substantial earnings through their salaries and bonuses, showcasing their incredible talent and dedication to the sport. Let’s take a closer look at the top earners in Formula One for 2023.
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Dominance of Max Verstappen
- Max Verstappen – $70M
- Team: Red Bull Racing
- Nationality: Netherlands
- Age: 26
- Salary: $45M
- Bonuses: $25M
Max Verstappen, the 26-year-old Dutch sensation, had a season for the ages in 2023. He clinched his third consecutive drivers’ championship by securing a record-breaking 19 race victories out of 22 races. This remarkable achievement set a new standard in Formula One, leaving fans and experts in awe. Verstappen’s dominance on the track was further emphasized by his 290-point lead in the standings, breaking another series record.
Verstappen’s success isn’t limited to his on-track achievements; he also leads the pack in terms of earnings. His estimated income of $70 million in salary and bonuses for 2023 places him firmly at the top of the Formula One financial hierarchy. What’s more, his prospects are looking even brighter as he enters a new five-year contract extension with Red Bull Racing.
Lewis Hamilton’s Legacy
- Lewis Hamilton – $55M
- Team: Mercedes
- Nationality: United Kingdom
- Age: 38
- Salary: $55M
- Bonuses: $0
Lewis Hamilton, a living legend in Formula One, secured the second spot on the list of highest-paid drivers in 2023. The British superstar, who shares the record for seven championships with the legendary Michael Schumacher, had a season that, while impressive by most standards, fell slightly short of his usual dominance.
Hamilton managed to reach the podium in only six races during the 2023 season, his lowest count in a single season since 2013. However, his multi-year contract extension with Mercedes in August ensures that he remains a formidable force in Formula One for the foreseeable future.
Fernando Alonso’s Return
- Fernando Alonso – $34M
- Team: Aston Martin
- Nationality: Spain
- Age: 42
- Salary: $24M
- Bonuses: $10M
The charismatic Spanish driver, Fernando Alonso, made an impressive return to Formula One in 2023. Racing for Aston Martin after two years with Alpine, Alonso finished fourth in the driver standings. He is the last driver not named Verstappen or Hamilton to lead the Formula One earnings race, having made an estimated $30 million on Forbes’ list of the world’s highest-paid athletes in 2013.
Alonso’s versatility extends beyond Formula One, as he has dabbled in endurance racing, IndyCar, and even expressed his desire to return to rally driving when he eventually retires from the sport.
Sergio Pérez’s Success
- Sergio Pérez – $26M
- Team: Red Bull Racing
- Nationality: Mexico
- Age: 33
- Salary: $10M
- Bonuses: $16M
Sergio Pérez, the Mexican star, had a strong showing in 2023. He won two of the season’s first four races, contributing to Red Bull Racing’s impressive 21 Grand Prix victories out of 22 races.
While Pérez finished second in the driver standings, a midseason dip in performance led to speculations about his future with the team. However, Pérez remains under contract through the next season, dispelling rumors of retirement.
Charles Leclerc’s Aspirations
- Charles Leclerc – $19M
- Team: Ferrari
- Nationality: Monaco
- Age: 26
- Salary: $14M
- Bonuses: $5M
Charles Leclerc, the talented Monegasque driver, had a solid season in 2023. While he finished fifth in the driver standings, a report during the summer falsely claimed a record-breaking contract extension with Ferrari. Leclerc, however, expressed his desire to stay with the team beyond the next season, emphasizing his determination to win world championships.
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Rising Stars and their Earnings
Formula One not only boasts established superstars but also rising talents who command impressive earnings.
Lando Norris – $15M
- Team: McLaren
- Nationality: United Kingdom
- Age: 24
- Salary: $5M
- Bonuses: $10M
Lando Norris, the 24-year-old British driver, showcased his potential by reaching the podium in five of six races from September to November, helping McLaren secure fourth place in the constructor standings.
Carlos Sainz – $14M
- Team: Ferrari
- Nationality: Spain
- Age: 29
- Salary: $8M
- Bonuses: $6M
Carlos Sainz, the Spanish driver, was the only non-Red Bull driver to win a Grand Prix in 2023, highlighting his talent and contribution to Ferrari’s success.
George Russell – $9M
- Team: Mercedes
- Nationality: United Kingdom
- Age: 25
- Salary: $4M
- Bonuses: $5M
George Russell, after an impressive 2022 debut with Mercedes, continued to contribute to the team’s success, securing eighth place in the driver standings.
Pierre Gasly and Oscar Piastri – $8M each
- Pierre Gasly (Team: Alpine, Nationality: France, Age: 27)
- Oscar Piastri (Team: McLaren, Nationality: Australia, Age: 22)
Both Gasly and Piastri showcased their skills and potential in Formula One, earning a respectable $8 million each in 2023.
Also Read: List of Formula One Drivers and Teams with Most Championship Titles
Wrapping It Up!
In 2023, the world of Formula One showcases the highest-paid Formula One drivers, with Max Verstappen leading the pack thanks to his dominant season. Lewis Hamilton, an icon of excellence, closely follows. This sport provides not only intense racing action but also substantial earnings through salaries and bonuses. With a mix of seasoned legends and emerging talents, Formula One remains a captivating and financially rewarding endeavor for its drivers, solidifying their positions as the highest paid Formula One drivers in the world.
