F1’s top 10 highest-paid racers in 2024: Forbes

According to Forbes estimates, F1’s top 10 earners collectively made $317 million on the track in 2024, marking a 23% increase from $258 million in 2023 and represents the highest figure in the four-year history of Forbes’ F1 earnings rankings.

According to Liberty Media’s annual earnings disclosure, the series’ central revenue rose by 25% year-over-year in 2023, reaching $3.2 billion. This meant more prize money for the grid’s 10 teams, which are also seeing better sponsorship opportunities.

The cash flow has raised the average team valuation on Forbes’ rankings to $1.88 billion while also providing teams with more funds to spend on their drivers.

F1’s top 10 racers by earnings in 2024

Unlike Forbes’ lists of the highest-paid players in football or the NBA, Formula 1 earnings ranking excludes sponsorship income. This is largely because drivers’ obligations to their teams and team sponsors leave little room to pursue personal deals, focusing instead on salaries and bonuses within the sport.

1. Max Verstappen

• Team: Red Bull
• Nationality: Netherlands
• Age: 27
• Paid: $75 million ($60 million salary + $15 million bonuses)

2. Lewis Hamilton

• Team: Mercedes
• Nationality: UK
• Age: 39
• Paid: $57 million ($55 million salary + $2 million bonuses)

3. Lando Norris

• Team: McLaren
• Nationality: UK
• Age: 25
• Paid: $35 million ($12 million salary + $23 million bonuses)

4. Fernando Alonso

• Team: Aston Martin
• Nationality: Spain
• Age: 43
• Paid: $27.5 million ($24 million salary + $3.5 million bonuses)

5. Charles Leclerc

• Team: Ferrari
• Nationality: Monaco
• Age: 27
• Paid: $27 million ($15 million salary + $12 million bonuses)

6. George Russell

• Team: Mercedes
• Nationality: UK
• Age: 26
• Paid: $23 million ($15 million salary + $8 million bonuses)

7. Oscar Piastri

• Team: McLaren
• Nationality: Australia
• Age: 23
• Paid: $22 million ($5 million salary + $17 million bonuses)

8. Sergio Perez

• Team: Red Bull
• Nationality: Mexico
• Age: 34
• Paid: $19.5 million ($12 million salary + $7.5 million bonuses)

9. Carlos Sainz

• Team: Ferrari
• Nationality: Spain
• Age: 30
• Paid: $19 million ($10 million salary + $9 million bonuses)

10. Pierre Gasly

• Team: Alpine
• Nationality: France
• Age: 28
• Paid: $12 million ($10 million salary + $2 million bonuses)