Formula 1’s highest earners include Max Verstappen, leading with a $55 million salary, not counting bonuses. Following him are Charles Leclerc at $36 million and Lewis Hamilton at $35 million. On the lower end, Yuki Tsunoda and Logan Sargeant each make $1 million, significantly less than their top-tier counterparts. Estimating the entire grid’s earnings is challenging, with the top names generally earning the most.
The Highest Paid F1 Driver
As expected, Max Verstappen, who has won the championship three times consecutively, is the top-earning driver in 2023.
At 26 years old, this Dutch racer first clinched a narrow victory for the title in 2021 and then continued his winning streak with dominant performances in 2022 and 2023. His rapid success has swiftly elevated him into the top five for most wins in the history of the sport.
Driver | Team | F1 Seasons | Earnings ($ million) |
---|---|---|---|
Max Verstappen | Red Bull | 9th | 55 |
Lewis Hamilton | Mercedes | 17th | 35 |
Charles Leclerc | Ferrari | 6th | 24 |
Lando Norris | McLaren | 5th | 20 |
Carlos Sainz | Ferrari | 9th | 12 |
Sergio Perez | Red Bull | 13th | 10 |
Valtteri Bottas | Alfa Romeo | 11th | 10 |
George Russell | Mercedes | 5th | 8 |
Esteban Ocon | Alpine | 7th | 6 |
Pierre Gasly | Alpine | 7th | 5 |
Fernando Alonso | Aston Martin | 20th | 5 |
Kevin Magnussen | Haas | 8th | 5 |
Alexander Albon | Williams | 4th | 3 |
Oscar Piastri | McLaren | 1st | 2 |
Lance Stroll | Aston Martin | 7th | 2 |
Zhou Guanyu | Alfa Romeo | 2nd | 2 |
Nico Hülkenberg | Haas | 12th | 1 |
Yuki Tsunoda | AlphaTauri | 3rd | 1 |
Logan Sargeant | Williams | 1st | 1 |
Also Read: What is DRS in Formula 1?
Lowest Paid F1 Driver
In 2023, three F1 drivers are each going to earn $1 million. They are Nico Hülkenberg from Haas, Yuki Tsunoda from AlphaTauri, and Logan Sargeant from Williams. All three have the same pay, but their racing careers are at very different stages.
Hülkenberg, who is 36 years old, started racing in F1 in 2010 with Williams. He’s been in the sport for 12 seasons and is known for being a solid driver, even though he’s never finished a race in the top three.
Tsunoda, who is 23, is in his third year with AlphaTauri, which is connected to Red Bull. He hasn’t finished in the top three either, but he’s doing pretty well for what his team expects.
Sargeant, 22, is the only American racing in F1 in 2023. It’s his first year, and he’s finding it tough, especially when compared to his teammate Alexander Albon at Williams. If he doesn’t start doing better, he might not last long in F1.