If Formula One racing is on the radar, Lewis Hamilton is a name that often pops up. The British racer is a huge star in modern F1, and with Michael Schumacher retired, Hamilton might be the biggest name out there. Wondering about his net worth?
Check out how this top F1 driver is raking in the cash, where it’s all coming from, and how he’s spending it. This guide breaks down everything about Lewis Hamilton’s net worth, including his yearly earnings and assets.
Who Is Lewis Hamilton?
Lewis Hamilton is a British Formula One racing driver born on January 7, 1985, in Stevenage, United Kingdom. He is the join-record holder for the most Formula One championships alongside legendary Michael Schumacher with seven titles a piece.
Hamilton began his F1 career in 2007 with McLaren and defeated Ferrari’s Felipe Massa by just a single point to win his first title. After winning the title in his second year, Hamilton became the youngest-ever F1 world champion. In 2012, the British driver joined Mercedes; the rest is history. He went on to win six titles with the German automotive brand.
He owes his income to a go-kart he was gifted at just six years old. Until then, he had largely been interested in soccer (or football, as he would call it) and karate. But after the gift, his obsession with racing quickly grew, and his parents supported him, starting him to where he is today. Apart from his championships, he was also knighted in 2021 for his achievements. Whoever bought him that go-kart was definitely on to something!
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A Look At Lewis Hamilton’s Net Worth
According to Celebrity Net Worth, the joint-record 7-time Formula One champion’s net worth was a very comfortable $300 million as of April 2024. He takes home around $70-90 million annually, keeping his worth growing steadily. Widely recognized as one of the greatest F1 racers of all time, it’s no surprise that Hamilton is also among the highest-paid athletes across sports.
He signed a two-year extension with Mercedes in the summer of 2023 that allowed him a salary of $60 million. However, Hamilton is set to break his Mercedes contract and move to Ferrari in 2025. In his new team, the 39-year-old F1 driver will reportedly earn around $107 million annually.
How Does Lewis Hamilton Make His Money?
If you’re wondering where Lewis Hamilton’s salary comes from, there are a few different streams. Of course, he made most of his money by being part of the Mercedes F1 team. This is still the case even now when his name gives him plenty of endorsement opportunities to bring in extra income.
Driving for the Mercedes-AMG Petronas Formula One Team and the contract he holds with them are still his main sources of income. His income will get a major boost when his move to Ferrari will be confirmed in 2025.
Lewis Hamilton’s Endorsements
Apart from his time on the track, this extra income is worth having and bolsters Hamilton’s net worth. He holds endorsement deals with Puma, Sony, IWC, and Tommy Hilfiger. He also does plenty of marketing campaigns with Mercedes outside of his racing contract, so he’ll be paid extra for this work.
Although not all that commonly seen on American TV, Hamilton does frequently appear in European commercials—particularly in Britain, where he’s a well-known face. He also attends promotional events for those brands he has dealt with and will undoubtedly receive a check each time he does.
Hamilton is known for only working with brands that will give him a voice and show his integrity when making money. For example, it’s been reported that he was a driving force behind Mercedes switching their leather seats to a synthetic, cruelty-free replacement. As a huge, multinational corporation, that shows how much sway Hamilton holds over the company.
How Does Lewis Hamilton Spend His Net Worth?
Now that everyone knows how much he earns, it’s time to move on to a just as exciting topic: how Lewis Hamilton spends his money! A good place to start is with the activism he funds. His work helping Mercedes go cruelty-free on their seating isn’t the only good deed this F1 racer has done in the public eye.
Activism and Donations
In 2020, Lewis Hamilton reportedly donated $500,000 to manage terrible Australian bushfires. Half a million dollars isn’t a small amount of money, showing just how into good causes Hamilton is. He also sold his private jet (worth $25 million) and reinvested the funds into creating a carbon-neutral home for a more sustainable future.
Another path of activism Hamilton invested in was the Hamilton Commission. He established this partnership with the Royal Academy of Engineering to uncover black students with exceptional engineering, math, and driving talents. So much of Hamilton’s spending goes towards activism that his spending seems to pale in comparison.
Lewis Hamilton’s House
Lewis Hamilton acquired a multi-million penthouse in 2019 at 70 Vestry Street in New York, worth $40.7 million. In 2019, he sold a property in the Tribeca building where A-listers like Justin Timberlake and Jessica Biel, Jake Gyllenhaal, and Bella Hadid live.
Hamilton sold his penthouse in the Tribeca building for $57 million after buying it for $43.9 million in 2017. He still owns a $13 million Monte Carlo apartment. He also owns an estate in Colorado, which is expected to be his retirement home.
Lewis Hamilton’s Other Asset
One of the more famous assets is the Lewis Hamilton car collection. As an F1 racing driver, it would seem strange for the celebrity not to own his fair share of supercars! The collection is worth $18 million and includes a world-famous McLaren P1 that’s reported to be worth over $2 million.
He’s also known to enjoy splashing out on fashion. One watch he owns – an IWC Schaffhausen Pilot World Timer – is valued at approximately $7,000. While not the most lavish accessory money can buy, it’s still a large expense.
