Sport

Top F1 Driver Salaries for 2021 Revealed

Nick Hall, 16 Feb 2021 | News

Copy Link

Share

Share this on

Facebook

Twitter

LinkedIn

Reddit

Pinterest

Flipboard

Send this by

Email

Messenger

WhatsApp

Copy Link

It’s no surprise that F1 driver salaries are insane, but when you look at the risk involved with the sport, it’s hard to argue against them. For years, we’ve seen the highest earning drivers secure monster paydays, however, in 2021, things are a little different. Thanks to the pandemic and a raft of new rules that have changed the way that Formula 1 teams operate, F1 driver salaries have reportedly slowed, with one major exception.

You’ll also like:
F1 Driver Romain Grosjean’s ‘Miracle’ Escape After Terrifying Crash
The Lingering Question Mark Over the 2021 F1 Season
Williams F1 Team Saved By Driver’s Dad

The Need for Greed

According to the latest data published by online sports team and player contract resource Sportrac, the salaries of the world’s biggest drivers has taken a slight hit. Where ex-champion Sebastian Vettel was earning a massive €42,000,000 last year, a change of team and revamped opportunity has seen that number fall. It’s a similar situation across the board, however, seven-time champion Lewis Hamilton remains, somewhat unsurprisingly, unaffected by the economic woes. In fact, he’s managed to extend the gap between him and the second-highest earning F1 driver.

For the 2021 F1 season, Hamilton will earn a reported USD$55 million, more than double that of his closest rival, Fernando Alonso, who sustained a terrifying injury in February. Nevertheless, it’s hard to argue Hamilton’s dominance on the track. The winningest driver in the history of F1, the Brit more than earns his money.

F1 Driver Salaries 2021

With the new season set to kick off soon, Sportrac has unveiled the reported F1 driver salaries for 2021. From Lewis Hamilton to Daniel Ricciardo, the top drivers are making bank. Here is a list of the highest-earning F1 drivers for 2021.

1. Lewis Hamilton (USD$55,000,000)

Seven-time champion Lewis Hamilton has once again topped the bill of highest paid F1 drivers for 2021. The 36-year-old star recently signed a one-year contract extension with Mercedes that Sportrac is reporting is worth USD$55 million. While the one deal is a little different than previous arrangements, you can bet that Hamilton will continue on after this season.

Born: 7 January 1985 (age 36 years), Stevenage, United Kingdom
Height: 1.74 m
First win: 2007 Canadian Grand Prix
Last win: 2020 Bahrain Grand Prix
Car number: 44
Team: Mercedes

2. Fernando Alonso (USD$20,500,000)

Two-time champion Fernando Alonso has come in second, but it’s a monumental gap between him at Hamilton. The newly-signed Alpine F1 driver is set to make a triumphant return to the track, however, a recent cycling accident may have put the brakes on his return.

Born: 29 July 1981 (age 39 years), Oviedo, Spain
Height: 1.71 m
Full name: Fernando Alonso Díaz
Spouse: Raquel del Rosario (m. 2006–2011)
Partner: Linda Morselli
Team: Alpine F1

3. Max Verstappen (USD$19,130,000)

The Belgian/Dutch young gun has more than proven his worth in the drivers’ stakes and he’s got a salary to show for it. Max Verstappen is reportedly set to earn a whopping USD$20 million this season, a major accolade for the Red Bull star.

Born: 30 September 1997 (age 23 years), Hasselt, Belgium
First win: 2016 Spanish Grand Prix
Last win: 2020 Abu Dhabi Grand Prix
2020 position: 3rd (214 pts)
2021 team: Red Bull Racing-Honda
Car number: 33

4. Sebastian Vettel (USD$17,000,000)

German champion Sebastian Vettel caused a stir when he announced he was going to Aston Martin-Mercedes this season. While the move signalled the end of an era at Ferrari, the new team sees Vettel start fresh, albeit for a far lower pay grade. Vettel earned €42 million last year, however, according to Sportrac, that figure is set to fall to USD$17 million.

Born: 3 July 1987 (age 33 years), Heppenheim, Germany
First win: 2008 Italian Grand Prix
2021 team: Aston Martin-Mercedes
Last win: 2019 Singapore Grand Prix
Car number: 5
Last entry: 2020 Abu Dhabi Grand Prix

5. Daniel Ricciardo (USD$17,000,000)

Australia’s first man of the track, Daniel Ricciardo’s long-awaited journey to McLaren has finally kicked off. The 31-year-old signed a major deal to join the British team last year, which is now reportedly being valued at around USD$17 million. With a history of mechanical failures behind him, the Aussie dynamo may soon be back on the podium.

Born: 1 July 1989 (age 31 years), Perth
First win: 2014 Canadian Grand Prix
Last win: 2018 Monaco Grand Prix
2021 team: McLaren-Mercedes
2020 position: 5th (119 pts)
Last entry: 2020 Abu Dhabi Grand Prix

6. Valtteri Bottas (USD$11,000,000)

Finnish racing star Valtteri Bottas continues on with Mercedes this year, albeit for far less than his seven-time world champion partner. The former Williams team driver is reportedly earning USD$11 million for his role on the track, making him one of the highest pair F1 drivers for 2021.

Born: 28 August 1989 (age 31 years), Nastola, Finland
First win: 2017 Russian Grand Prix
Last win: 2020 Russian Grand Prix
2021 team: Mercedes
2020 position: 2nd (223 pts)
Car number: 77

7. Charles Leclerc (USD$11,000,000)

Another young gun making major money in 2021 is Charles Leclerc. Ferrari has gone all-in with its young team and the pride of the automotive giant rests firmly on Leclerc’s shoulders. He had an uneventful year in 2020, however, the Monégasque driver is gearing up for a big year.

Born: 16 October 1997 (age 23 years), Monte Carlo, Monaco
First win: 2019 Belgian Grand Prix
Last win: 2019 Italian Grand Prix
2021 team: Ferrari
2020 position: 8th (98 pts)
Car number: 16

8. Kimi Raikkonen (USD$7,525,000)

The Iceman cometh. Alfa Romeo Racing star Kimi Raikkonen is set to make just over USD$7.5 million for the 2021 season, the 20th in his career. With a history of success on his side, the veteran diver is expected to make a solid run at the podium this year.

Born: 17 October 1979 (age 41 years), Espoo, Finland
First win: 2003 Malaysian Grand Prix
Last win: 2018 United States Grand Prix
Spouse: Minttu Räikkönen (m. 2016), Jenni Dahlman (m. 2004–2014)
Children: Robin Räikkönen, Rianna Angelia Milana Räikkönen
Current teams: Alfa Romeo Racing, Sauber F1 Team

9. Carlos Sainz (USD$6,841,000)

Spanish F1 driver Carlos Sainz will be making a touch under USD$7 million this year when he straps up for Ferrari. The 26-year-old had a solid year in 2020, finishing the season in sixth position. A less interrupted campaign should serve the young star well.

Born: 1 September 1994 (age 26 years), Madrid, Spain
2021 team: Ferrari
Car number: 55
2020 position: 6th (105 pts)
Last entry: 2020 Abu Dhabi Grand Prix
Fastest laps: 1

10. Esteban Ocon (USD$4,652,000)

French F1 driver, Esteban José Jean-Pierre Ocon-Khelfane will also be joining the Alpine-Renault team in 2021. At just 24-years-old, Ocon is one of the youngest competitors in the division, good enough for a USD$4.65 million salary.

Born: 17 September 1996 (age 24 years), Évreux, France
Height: 1.86 m
2021 team: Alpine-Renault
2020 position: 12th (62 pts)
Car number: 31
Last entry: 2020 Abu Dhabi Grand Prix

11. Sergio Perez (USD$3,420,000)

Red Bull Racing driver Sergio Perez rounds out the top 10 highest earning F1 drivers for 2021, with a reported salary of USD$3.42 million. The Mexican favourite has previously driven for Sauber, McLaren, Force India and Racing Point.

Born: 26 January 1990 (age 31 years), Guadalajara, Mexico
2021 team: Red Bull Racing-Honda
First win: 2020 Sakhir Grand Prix
Last win: 2020 Sakhir Grand Prix
Wins: 1
Car number: 11

12. Lance Stroll (USD$1,915,000)

Lance Stoll made waves when he announced he was headed to Aston Martin for 2021, and the numbers don’t disappoint. Set to earn around USD$1.9 million, Stoll made the decision to walk away from Williams and Racing Point in order to join the team, ready for a monster new year.

Born: 29 October 1998 (age 22 years), Montreal, Canada
2021 team: Aston Martin-Mercedes
2020 position: 11th (75 pts)
Car number: 18
Last entry: 2020 Abu Dhabi Grand Prix
Parents: Lawrence S. Stroll, Claire-Anne Stroll

13. Pierre Gasly (USD$1,915,000)

French racing driver Pierre Gasly is set to tackle the 2021 F1 season under the AlphaTauri-Honda banner. The 2016 GP2 Series champion and2014 Formula Renault 3.5 Series runner is preparing to make good on the switch.

Born: 7 February 1996 (age 25 years), Rouen, France
First win: 2020 Italian Grand Prix
Last win: 2020 Italian Grand Prix
2021 team: AlphaTauri-Honda
2020 position: 10th (75 pts)
Car number: 10

14. Lando Norris (USD$1,915,000)

The youngest driver on the list, McLaren-Mercedes Lando Norris is expected to do great things this year. The 2015 MSA Formula championship winner has been steadily climbing the ranks and has finally secured a solid spot with the team, not to mention a handy little salary just shy of USD$2 million.

Born: 13 November 1999 (age 21 years), Bristol, United Kingdom
Height: 1.7 m
2021 team: McLaren-Mercedes
Car number: 4
2020 position: 9th (97 pts)
Parents: Adam Norris, Cisca Wauman

15. George Russell (USD$958,000)

Baby-faced assassin, George Russell made a triumphant return to Formula 1 last year in strange circumstances. Contracted to Williams-Mercedes, Russell is one of the fan favourites for 2021, with a lot of expectation riding on his 23-year-old shoulders.

Born: 15 February 1998 (age 23 years), King’s Lynn, United Kingdom
Height: 1.85 m
2021 team: Williams-Mercedes
Car number: 63
2020 position: 18th (3 pts)
Fastest laps: 1

16. Nicholas Latifi (USD$958,000)

Iranian-Canadian driver Nicholas Latifi is another sports-star making bulk cash in 2021. The 25-year-old is driving for Williams for the upcoming season, earning an estimated USD$958,000.

Born: 29 June 1995 (age 25 years), Montreal, Canada
Career points: 0
Car number: 6
2020 position: 21st (0 pts)
2021 team: Williams-Mercedes
Parents: Michael Latifi, Marilena Latifi

17. Antonio Giovinazzi (USD$684,000)

Alfa Romeo driver Antonio Giovinazzi rounds out the last of the figures put forward by Sportrac. His reported salary of USD$684,000 is a far cry from the USD$55 million that Hamilton is making, but still infinitely more than we’ll ever make.

Born: 14 December 1993 (age 27 years), Martina Franca, Italy
2021 team: Alfa Romeo Racing-Ferrari
Car number: 99
2020 position: 17th (4 pts)
Last entry: 2020 Abu Dhabi Grand Prix
Entries: 40 (40 starts)

18. Yuki Tsunoda (Unknown)

Sportrac couldn’t provide an estimated salary for Japanese Formula 1 driver Yuki Tsunoda, however, the 20-year-old is likely to be making six-figures for his role with AlphaTauri-Honda.

Born: 11 May 2000 (age 20 years), Sagamihara, Kanagawa, Japan
2021 team: AlphaTauri-Honda
Former teams: Carlin
Debut season: 2020
Best finish: 3rd in 2020
Fastest laps: 2

19. Mick Schumacher (Unknown)

Similarly, fan-favourite Mick Schumacher doesn’t have an official salary listed, however, the Sportrac data would suggest it’s in the hundreds of thousands. The son of German star Michael Schumacher, the 21-year-old is making waves in the sport and it won’t be long before you see his ranking rise.

Born: 22 March 1999 (age 21 years), Vufflens-le-Château, Switzerland
2021 team: Haas-Ferrari
Debut season: 2019
Best finish: 1st in 2020
Parents: Michael Schumacher, Corinna Schumacher
Siblings: Gina-Maria Schumacher

20. Nikita Mazepin (Unknown)

Finishing the list is Russian F1 driver Nikita Mazepin. While he has no official salary listed, the Haas-Ferrari driver is making some serious inroads for a 21-year-old. Analysts are suggesting this young driver is one to watch out for.

Born: 2 March 1999 (age 21 years), Moscow, Russia
Nationality: Russian
Parents: Dmitry Mazepin
2021 team: Haas-Ferrari
Former teams: ART Grand Prix
Current team: Haas F1 Team

You’ll also like:
F1 Driver Romain Grosjean’s ‘Miracle’ Escape After Terrifying Crash
The Lingering Question Mark Over the 2021 F1 Season
Williams F1 Team Saved By Driver’s Dad

General FAQs

Who is the highest-paid F1 driver for 2021?

According to Sportrac, Mercedes champion Lewis Hamilton is the highest-paid F1 driver for 2021. The British star recently signed a one-year deal to stay with the team worth a reportedly USD$55 million.

Who Will Vettel drive for 2021?

Four-time Formula One champion Sebastian Vettel will move to the Racing Point team being rebranded as Aston Martin for the 2021 season.

What is Lewis Hamilton’s net worth?

With an annual salary of around USD$55 million per year, it’s no surprise that seven-time F1 champion Lewis Hamilton is wealthy. According to reports, the Brit as a net worth of around USD$285 million.