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Top F1 Driver Salaries for 2022

Jacob Osborn, 20 May 2022 | Guide

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How much do F1 drivers make? It’s a question commonly asked by fans of the sport. The answer ranges depending on each respective salary. Max Verstappen currently takes home about USD$25 million, for example, whilst AlphaTauri driver Yuki Tsunoda earns approximately USD$750,000. Your mileage may vary, as the saying goes, and it certainly applies here. Overall, the salary of an F1 driver didn’t change as significantly in 2022 as it did in say 2020. Of course, try telling that to seven-time champion Lewis Hamilton, who earned USD$15 million less this year than he did in 2021. Still, with his updated driver salary of USD$40 million, we can’t imagine he’s complaining.

In terms of upward moves, Lando Norris‘ salary increase is as impressive as his driving skills. Having recently signed a contract extension with McLaren, his earnings went from last year’s USD$1.9 million all the way up to a whopping USD$20 million. That places him fourth on the list of F1 driver salaries, right behind Verstappen and Fernando Alonso. So how much did the rest of this year’s Formula 1 drivers make? Let’s find out.

2022 F1 Driver Salaries

The Business of F1

Spanning multiple countries and partnerships, F1 is already a wildly popular international sport with an innate sense of spectacle. However, thanks to a Netflix reality show called “Drive to Survive,” viewer engagement is at an all-time high. Taking you behind the scenes of professional motorsport, the series largely eschews technical details in favour of taut drama, human interest, and fierce competition. As a result, champions like Lewis Hamilton and Max Verstappen have taken on new tiers of fame whilst even lesser-known drivers have become reality show stars.

“Drive to Survive” also shines a spotlight on important figures such as Christian Horner, the larger-than-life boss of team Red Bull (and husband to Spice Girl Geri Halliwell). Demanding billionaire investors—without whom most teams wouldn’t exist—likewise provide for an endless supply of gripping content. In turn, F1 viewership has reportedly increased by almost 50 per cent around the world. The sport has also become more popular than ever before in the key market of America.

To put it another way: the business of F1 is currently booming. And with the boom in business comes more opportunity for every driver. Max Verstappen’s salary—as impressive it may be—is merely the tip of an iceberg that includes sponsorships, partnerships, investments, and all kinds of free swag, amongst other things. The same goes for any of the sport’s major stars.

Top F1 Driver Salaries 2022

We promised you the salary of an F1 driver and at last, we shall deliver it. Here’s what each Formula 1 driver makes, as per spotrac.

1. Lewis Hamilton (USD$40 Million)

The foremost name in F1 racing, Lewis Hamilton still earns more than his peers by a rather wide margin. He was recently denied an eighth championship title after a controversial showdown against Max Verstappen in Abu Dhabi. It was one of the most intense races in the sport’s history, which only reinforced the status of both drivers as being in a class of their own.

Born: 7 January 1985 (age 37 years), Stevenage, United Kingdom
First win: 2007 Canadian Grand Prix
Last win: 2021 Saudi Arabian Grand Prix
Car number: 44
Team: Mercedes

2. Max Verstappen (USD$25 Million)

The first Dutch driver to win an F1 World Championship, Max Verstappen is nothing short of a superstar. His sizable salary has increased by about USD$5 million over the previous year, and he’s expected to remain with Red Bull Racing through to at least 2028.

Born: 30 September 1997 (age 24 years), Hasselt, Belgium
First win: 2016 Spanish Grand Prix
Last win: 2022 Saudi Arabian Grand Prix
Car number: 1
Team: Red Bull Racing

3. Fernando Alonso (USD$20 Million)

F1 veteran Fernando Alonso returned from a two-year sabbatical in 2021 to score his first podium in seven years. His salary was once reportedly as high as USD$33 million when he drove for McLaren, which isn’t to mention the various endorsement deals. He’s under contract with Alpine through to the end of the year.

Born: 29 July 1981 (age 40 years), Oviedo, Spain
First win: 2003 Hungarian Grand Prix
Last win: 2013 Spanish Grand Prix
Car number: 14
Team: Alpine

4. Lando Norris (USD$20 Million)

The McLaren F1 racing team sees big things from Lando Norris, whose salary has skyrocketed over the previous year. As per his recent contract extension, he’ll be racing with the team until at least 2025.

Born: 13 November 1999 (age 22 years), Bristol, United Kingdom
First entry: 2019 Australian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 4
Team: McLaren

5. Sebastian Vettel (USD$15 Million)

Vettel’s salary took a hit when he left Ferrari for a fresh start with Aston Martin and his earnings have decreased yet again, going from last year’s USD$17 million down to USD$15 million. A recent COVID-19 diagnosis kept him out of the first two races of the 2022 season.

Born: 3 July 1987 (age 34 years), Heppenheim, Germany
First win: 2008 Italian Grand Prix
Last win: 2019 Singapore Grand Prix
Car number: 5
Team: Aston Martin

6. Daniel Ricciardo (USD$15 Million)

The only F1 racer currently driving under the Australian flag continues to do our nation proud, mechanical failures notwithstanding. He recently signed with McLaren and nearly missed the opening of the 2022 season after catching COVID-19. With his USD$15 million salary, Daniel Ricciardo ranks alongside Sebastian Vettel on the list of top earners.

Born: 1 July 1989 (age 32 years), Perth
First win: 2014 Canadian Grand Prix
Last win: 2021 Italian Grand Prix
Car number: 3
Team: McLaren

7. Charles Leclerc (USD$12 Million)

This Monaco-born racer described himself as being “too greedy” when a spin cost him major points in the recent Emilia Romagna Grand Prix, though he still ranks #1 in the overall standings. As for his respectable salary of USD$12 million, he surely feels that there’s plenty of room for more greed.

Born: 16 October 1997 (age 24 years), Monte Carlo, Monaco
First win: 2019 Belgian Grand Prix
Last win: 2022 Australian Grand Prix
Car number: 16
Team: Ferrari

8. Valtteri Bottas (USD$10 million)

After driving for Mercedes from 2017 to 2021, this Finnish racing legend signed a multi-year with Alfa Romeo. He’s been runner-up in the drivers’ championship on two separate occasions.

Born: 28 August 1989 (age 32 years), Nastola, Finland
First win: 2017 Russian Grand Prix
Last win: 2021 Turkish Grand Prix
Car number: 77
Team: Alfa Rome0

9. Lance Stroll (USD$10 Million)

Whilst racing for Williams in 2017, Stroll became the youngest driver to finish an F1 race on the podium during their rookie season. He’s been retained by Aston Martin for a second year, with an adjoining salary bump of over USD$8 million.

Born: 29 October 1998 (age 23 years), Montreal, Canada
First entry: 2017 Australian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 18
Team: Aston Martin

10. Carlos Sainz Jr (USD$10 Million)

Here we have another F1 driver salary increase over the previous year, with Carlos Sainz Jr. adding about USD$3 million to his bottom line (not counting endorsement deals and other revenue streams). He recently signed a two-year contract extension with Ferrari and will remain with the racing team until at least 2024.

Born: 1 September 1994 (age 27 years), Madrid, Spain
First entry: 2015 Australian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 55
Team: Ferrari

11. Sergio Pérez (USD$8 Million)

Pérez recently became the first Mexican driver to achieve a pole position in F1 and it took him a record-breaking 215 race starts to do it. His salary of USD$8 million represents an increase of just under USD$5 million over the previous year.

Born: 26 January 1990 (age 32 years), Guadalajara, Mexico
First win: 2020 Sakhir Grand Prix
Last win: 2021 Azerbaijan Grand Prix
Car number: 11
Team: Red Bull Racing

12. Kevin Magnussen (USD$6 Million)

Danish driver Kevin Magnussen and teammate Romain Grosjean left Haas at the end of 2020, to be replaced by Mick Schumacher and Nikita Mazepin. When Russia invaded Ukraine, Haas terminated their contract with Mazepin and brought Magnussen back into the fold by way of a multi-year deal.

Born: 5 October 1992 (age 29) Roskilde, Denmark
First entry: 2014 Australian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 20
Team: Haas

13. Pierre Gasly (USD$5 Million)

Formerly signed with Toro Rosso and Red Bull Racing, Gasly joined AlphaTauri in 2020 and scored his first (and only) F1 win that very same year. He’ll continue to drive for the team during the 2022 season.

Born: 7 February 1996 (age 26 years), Rouen, France
First win: 2020 Italian Grand Prix
Last win: 2020 Italian Grand Prix
Car number: 10
Team: AlphaTauri

14. Esteban Ocon (USD$5 Million)

Young and talented, Ocon signed a contract with Alpine that runs through to the 2024 season. His current salary of USD$5 million represents only a marginal increase over last year.

Born: 17 September 1996 (age 25 years), Évreux, France
First win: 2021 Hungarian Grand Prix
Last win: 2021 Hungarian Grand Prix
Car number: 31
Team: Alpine

15. George Russell (USD$5 Million)

This baby-faced Brit achieved his first F1 podium last year for Williams and now makes up part of the Mercedes racing team. He’s earning USD$4 million more in salary than he did in 2021.

Born: 15 February 1998 (age 24 years), King’s Lynn, United Kingdom
First entry: 2019 Australian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 63
Team: Mercedes

16. Alexander Albon (USD$2 Million)

As a member of the Red Bull Racing team, Albon was demoted to test and reserve driver during the 2021 season. He’s since regained an F1 racing seat under the Williams banner, though Red Bull has an option to recall him until 2023.

Born: 23 March 1996 (age 26) London, England, United Kingdom
First entry: 2019 Australian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 23
Team: Williams

17. Nicholas Latifi (USD$1 Million)

Iranian-Canadian driver Nicholas Latifi made his F1 debut in 2020 and continues to drive for the Williams racing team. He’s still dealing with the controversy over his recent crash at the Abu Dhabi Grand Prix, which helped Max Verstappen secure the win.

Born: 29 June 1995 (age 26 years), Montreal, Canada
First entry: 2020 Austrian Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 6
Team: Williams

18. Zhou Guanyu (USD$1 Million)

Rookie Zhou Guanyu is China’s first full-time F1 driver, who formerly competed in the FIA Formula 2 Championship. He chose his racing number of 24 as a tribute to his hero, the late Kobe Bryant.

Born: 30 May 1999 (age 22) Shanghai, China
First entry: 2022 Bahrain Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 24
Team: Alfa Romeo

19. Mick Schumacher (USD$1 Million)

This Swiss-born German is in the midst of his second year as an F1 driver for the Haas racing team. A perennial fan favourite, he has over 2.7 million followers on Instagram.

Born: 22 March 1999 (age 22 years), Vufflens-le-Château, Switzerland
First entry: 2021 Bahrain Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 47
Team: Haas

20. Yuki Tsunoda (USD$750,000)

Rounding out the list of F1 driver salaries is Japan’s Yuki Tsunoda, who made his Formula One debut at the young age of 20. Last year’s salary was undisclosed but we can now report he’s earning USD$750,000 with the AlphaTauri-Honda team.

Born: 11 May 2000 (age 21 years), Sagamihara, Kanagawa, Japan
First entry: 2021 Bahrain Grand Prix
Last entry: 2022 Emilia Romagna Grand Prix
Car number: 22
Team: AlphaTauri

2022 F1 Driver Lineup

Formula 1—or F1 for short—is the highest class of international auto racing. This year’s lineup consists of the following teams and drivers:

Alfa Romeo

• Valtteri Bottas – Finland
• Guanyu Zhou – China

AlphaTauri

• Pierre Gasly – France
• Yuki Tsunoda – Japan

Alpine

• Fernando Alonso – Spain
• Esteban Ocon – France

Aston Martin

• Sebastian Vettel – Germany
• Lance Stroll – Canada

Ferrari

• Charles Leclerc – Monaco
• Carlos Sainz Jr – Spain

Haas

• Kevin Magnussen – Denmark
• Mick Schumacher – Germany

McLaren

• Lando Norris – UK
• Daniel Ricciardo – Australia

Mercedes

• Lewis Hamilton – UK
• George Russell – UK

Red Bull Racing

• Max Verstappen – Netherlands
• Sergio Pérez – Mexico

Williams

• Alexander Albon – Thailand
• Nicholas Latifi – Canada

General FAQs

What is Max Verstappen’s salary?

Belgian-Dutch F1 driver Max Verstappen currently earns a salary of USD$25 Million in addition endorsement deals and other revenue sources.

How much does Daniel Ricciardo make?

Aussie F1 driver Daniel Ricciardo has a current salary of USD$15 Million, a long list of endorsements, and an estimated net worth of USD$50 million.