What is Lewis Hamilton’s net worth and is he the highest paid F1 driver?

LEWIS HAMILTON is one of the biggest names in motorsports.

After 15 years of racing in one of the most cash-drenched sports out there, his bank balance could be set to receive another huge boost as he will make a shock switch from Mercedes to Ferrari in 2025.

Lewis Hamilton is Britain’s most successful ever F1 driverRex

What is Lewis Hamilton’s net worth and is he the highest paid F1 driver?

Lewis Hamilton is one of the richest athletes in the world and is considered the highest-earning driver in F1 history.

He has an approximate net worth of $285 million dollars (approximately £232,000), as of 2023.

His contract with Mercedes nets him £41.6million each year.

Hamilton also featured in the Sunday Times Rich List twice in his career, in 2017 and 2021.

Planet F1 reported that he has an impressive private collection of supercars worth over £13million, including a Pagani Zonda, a Mercedes-AMG Project One, and a Ferrari LaFerrari, among others.

The F1 driver also owns a £49.1million penthouse in New York, according to GQ, and a £19.1million six-bedroom home in London.

How many times has Lewis been Formula One world champion?

Hamilton has been world champion a joint-record seven times – in 2008, 2014, 2015, 2017, 2018, 2019 and 2020.

In 2008, aged 23, he became the youngest ever world champion after five wins and a further five podiums took him to the title by a single point.

2014 saw him enjoy Mercedes F1 W05 Hybrid’s dominance, taking 11 wins en route to his second world title.

Team-mate Rosberg pushed him all the way with the championship only decided in the final race.

In 2017 he won the Mexican Grand Prix and defended his title again in 2018, before doing the same in 2020.

Hamilton won the Turkish Grand Prix to go level with the legendary Michael Schumacher in 2020.

His astonishing achievements were recognised and he was knighted in December 2021 for his services to sport.

In August 2023, he confirmed his future in Formula One after signing a mega £100million contract extension with Mercedes.

Hamilton confirmed he will carry on into his 40s with Mercedes.

On the new deal, 38-year-old Hamilton said: “We dream everyday of being the best and we have dedicated the past decade together to achieving that goal.

“Being at the top does not happen overnight or over a short period of time, it takes commitment, hard work and dedication and it’s been an honour to earn our way into the history books with this incredible team.

“We have never been hungrier to win. We have learnt from every success but also every setback. We continue to chase our dreams, we continue to fight no matter the challenge and we will win again.

“I’m grateful to the team who have supported me both on and off the track. Our story isn’t finished, we are determined to achieve more together and we won’t stop until we do.”

What sponsorship deals does Lewis Hamilton have?

In 2014, Lewis was named the most marketable sportsman in the world.

He currently has personal sponsorship deals with Bose, L’Oreal, Mercedes-Benz, Monster Energy, Police, Puma, Sony, Tommy Hilfiger, Vodafone-USD.

Hamilton is said to be raking in an additional £16.6million from these sponsorship deals.

How much do other F1 drivers earn?

As the most expensive sport in the world – it’s no surprise top Formula 1 drivers boast a massive bank balance.

Here are some of the F1 drivers who join Hamilton with their incredible wealth:

• Fernando Alonso – £216m
• Max Verstappen – £75m
• Sergio Perez – £62.4m
• Daniel Ricciardo – £41.6m
• Lance Stroll – £41.6m