Toto Wolff has been the Team Principal and CEO of the Mercedes F1 team since 2013
Toto Wolff has become the latest individual from the sporting fraternity to join the Billionaires‘ world as per reports. The Mercedes boss has been associated with motorsports for a long time in high-paying roles besides being a professional racer himself.
He has owned the Mercedes outfit’s one-third since 2013, alongside Mercedes-Benz鈥檚 parent company Daimler and INEOS.
Wolff was an active professional racer until 2009. Soon after his retirement from the sport, the Austrian moved into administration and joined the Williams F1 Team as a Director.
In 2013, Wolff left Williams to become an executive director of the Mercedes F1 team. He also acquired 30% of Mercedes-Benz Grand Prix Ltd and soon became the Team Principal and CEO of this very popular Formula One outfit.
Besides his extremely successful career as a motorsport administrator, Wolff has several other successful ventures. Wolff is the co-owner of a number of MNCs including the investment companies he founded – Marchfifteen (1998) and Marchsixteen (2014).
Also Read: Who is the wife of Mercedes boss Toto Wolff?
Fans react to Toto Wolff becoming a billionaire
Let us take a look at some of the reactions from fans on Twitter.
“His wealth is mainly from his VC firms marchfifteen and marchsixteen. Very successful investment companies. He was already wealthy before becoming TP/CEO of Mercedes F1”, wrote a fan.
“That’s what happens when you are the best TP on the grid”, tweeted a fan.
“Why isn鈥檛 he putting his own funds into the W14 then. Very unserious man”, joked another fan.
“I mean his companies are worth billions each. No shock here”, stated another fan.
Another fan wrote: “He better pay those drivers 60m a piece. They are part of his high value stake.”
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