Despite $10 million less salary than Lewis Hamilton, Max Verstappen tops the 2023 highest paid F1 driver chart

The intense rivalry between Max Verstappen and Lewis Hamilton has been a defining narrative since the Dutch driver entered the Formula One paddock. Formerly a seven-time World Champion, he now finds himself struggling to keep pace with Verstappen, primarily due to the absence of a competitive car.

Remarkably, despite having a salary that is 10 million less than the British sensation, Verstappen still stays atop the paycheck records in Formula One.

Max Verstappen tops the 2023 highest-paid F1 driver chart

Red Bull’s main driver, Max Verstappen, has completed one of the most dominant seasons for the team in Formula One history. The Dutch sensation secured a record-breaking 19 out of 22 races, securing the drivers’ title as early as October 7. Although, apart from being an on-grid champion, he has been the financial champion of the series as well, commanding an estimated $70 million in salary and bonuses for the year, marking him as the highest-paid driver in Formula One.

This marks the second consecutive season the three-time World Champion has claimed the top spot in earnings, surpassing Mercedes’ Lewis Hamilton. Hamilton, who earned an estimated $55 million on the track in 2023, has held the title series’ highest-paid driver title for a decade in Forbes’ annual athlete earnings ranking. Hence, in total, the top 10 highest-paid drivers in Formula One will have earned an estimated $258 million in 2023 before taxes, showing a slight decrease from 2022’s $264 million.

What is Lewis Hamilton’s salary with Mercedes in 2023?

Despite all Formula One drivers likely enjoying comfortable earnings to support their luxurious lifestyles, some stand out with staggering paychecks, one of them being Lewis Hamilton. As of the latest update, the British driver commands a substantial salary of $55 million, exclusive of various bonuses. However, surprisingly, this places him in the second position among the highest-earning drivers, with Max Verstappen taking the lead at $45 million (in addition to his $25 million bonus). Lewis Hamilton is an experienced seven-time champion, in contrast to Max Verstappen, who has just started his career at 26 years old, gaining fame and trophies for his unmatched skill on the tracks.

While the future trajectory of their paychecks remains uncertain, Hamilton’s second-place standing provides an insight into the improvements Mercedes has to ensure for the welfare of their drivers and the team’s development in the competitive industry.

Do you think the drivers’ salaries will increase in the upcoming season? Let us know in the comment section below.


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