The most extravagant science fair of all time, the Formula One (F1) Grand Prix is home to arguably the bravest, most skilled, and, dare we say, the most charismatic drivers in the world. These 20 Bravehearts keep us fans on the edge of our seats throughout the F1 calendar, not only through their dashing driving but also with their skills on the microphone. Of course, their wizardry comes at a very steep price, making them some of the most handsomely compensated athletes in the world.
Taking bonuses and fixed salaries into account, Forbes has compiled a list of F1’s highest earners. Continue reading to meet the five highest-paid F1 drivers in 2023.
#5 Charles Leclerc (Ferrari): $19 Million
One of the most talented racers on the grid, Charles Leclerc is seen as the future of Ferrari. So, his massive earnings should not come as a surprise to anyone. The Monegasque high-flier made $19 million in 2023, with $14 million coming from his wages and the rest from performance-linked bonuses.
Leclerc did not have the best of starts to the 2023 F1 season, as he failed to finish two of the first three races. He, however, ended strongly, finishing second in both Las Vegas and Abu Dhabi — the final two races on the F1 calendar. Amassing 206 points and securing six podiums, Leclerc finished fifth in the Drivers’ Championship. He will be aiming for at least a top-three finish in 2024.
#4 Sergio Perez (Red Bull): $26 Million
Red Bull racer Sergio Perez earned $26 million in 2023, emerging as the season’s fourth-highest earner. The Mexican earned a staggering $16 million from performance-related bonuses on top of his fixed $10 million salary.
Perez had a brilliant start to the 2023 F1 season, clinching two wins in the first two races. However, a mid-season slump kept him from putting pressure on teammate and Drivers’ Championship winner Max Verstappen. The 33-year-old finished second in the championship rankings with 285 points.
#3 Fernando Alonso (Aston Martin): $34 Million
The oldest driver on the paddock, two-time F1 Drivers’ Championship winner Fernando Alonso made a handsome $34 million in his debut season with Aston Martin. Alonso earned a cool $24 million in wages and a handsome $10 million bonus.
The 42-year-old had a spectacular season with Aston Martin, reaching the podium a whopping eight times. With 206 points, he finished fourth in the 2023 Drivers’ Championship.
#2 Lewis Hamilton (Mercedes): $55 Million
Easily the most recognizable Formula 1 driver in the world, Lewis Hamilton earned a record $55 million in wages in 2023.
The seven-time F1 Drivers’ Championship winner did not have the most memorable 2023, with him failing to win even a single race throughout the year and reaching the podium in only six races — his worst return since 2013. The 39-year-old finished third in the Championship last year with 234 points, thus missing out on bonuses.
#1 Max Verstappen (Red Bull): $70 Million
Winner of the 2023 F1 Drivers’ Championship, Max Verstappen earned an eye-popping $70 million in 2023, emerging as the highest-paid Formula 1 driver in the world. He earned $45 million from his salary and a $25 million bonus for thoroughly dominating the tracks last year.
Verstappen won his third consecutive Drivers’ Championship by winning 19 of 22 races in 2023, breaking his own record of 15 in 2022. The 26-year-old Dutchman finished with 575 points, an unimaginable 290 points clear of his teammate Sergio Perez, who finished second. It will be interesting to see if Verstappen can add a fourth consecutive F1 championship to his cabinet in 2024.
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