Lewis Hamilton is presently the highest-paid Formula 1 driver closely followed by defending champion Max Verstappen
F1 is a multi-million dollar sport with drivers earning millions of dollars each season. The elite drivers make a lot more than the ones who lie behind in the grid. Hamilton and Verstappen are the highest paid F1 drivers as of 2022.
7-time world champion Lewis Hamilton is the highest-paid F1 driver with an estimated salary of US$ 40 million per year. He is closely followed by Red Bull’s Max Verstappen, who is the reigning champion. The Dutchman recently signed a contract extension till 2028 which sees him earn around US$ 35 million per year. With bonuses, Verstappen’s annual earnings could rise to US$ 50 million.
If we take a look at the grid, we would see Alpha Tauri’s Japanese driver Tsunoda has the least income in the grid with estimated annual earnings of US$750,000. Some of the more seasoned and veteran drivers like Fernando Alonso, Sebastian Vettel, Daniel Ricciardo, Sergio Perez, and Valtteri Bottas earn in the range of US$ 10 million to 25 million per year.
Newcomers and lesser experienced drivers like Guanyu Zhou, Mick Schumacher, Nicholas Latifi have an estimated annual income of US$ 1 million.
Max Verstappen Salary
Max Verstappen is currently 24 years old and is already one of the top paid F1 drivers of all time. The youngster enjoys a hefty salary of USD 25million annually. He has already secured 6 wins under the calendar year 2022 and is heading towards a championship win.
Lewis Hamilton Salary
Lewis Hamilton is one of the most decorated F1 drivers of all time. The man has won it all. The 37-year-old Britisher is the recipient of several championship wins and earns a well-deserved salary of USD 40 million. He is currently the highest-earning F1 driver.
As of now, Hamilton did not experience a fruitful 2022. He recently won podium position at the Canadian GP and hopes to make a comeback at the British GP.
Charles Leclerc Salary
Charles Leclerc is also 24 years old like Max Verstappen but earns quite less than him. The Monacan race driver earns a decent salary of USD 12 million per year. The Ferrari race car driver has had a successful 2022. He won Bahrain and the Australian GP and is also ranked quite up in the championship tally.
Will Max Verstappen be the highest-paid F1 driver very soon?
Max Verstappen’s new bumper deal with Red Bull could potentially make him the sole highest-paid F1 driver in 2 years.
The defending World Champion recently signed a 5-year deal extending his previous contract which ran till 2023. Max Verstappen joined Red Bull in 2016. Both parties were keen to continue their association with each other. The new contract will see Verstappen earn US$ 53.3 million a year with additional bonuses putting him almost on par with Lewis Hamilton.
Verstappen is the hottest property in F1 right now with Lewis Hamilton in the twilight of his career. The Dutchman is expected to dominate podiums for a long time ahead. And it was inevitable that he would receive lucrative offers from the top teams once he got closer to the end of his contract. Therefore, Red Bull didn’t waste any time extending his contract even though two more seasons were remaining from the previous contract. Hamilton is 37 now and it won’t be long before Verstappen becomes the highest-paid F1 driver!
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