F1 earnings: When being Team Principals pay up (2024)

Here are the top earning Formula One Team Principals as per estimates by Forbes and other industry sources.

Formula One (F1) is one of the most expensive forms of motorsports in the world. This results in F1 drivers earning millions as pay packages and as bonuses after races and victories. However, some earn more and often skip the limelight, such as Team Principals. Here are the top-earning F1 Team Principals.

Highest earning F1 Team Principals

Toto Wolff

Let’s start the list with the richest, and that title goes to the Mercedes Team Principal Toto Wolff. The Mercedes F1 boss also owns a one-third stake in the team and as per Forbes, Wolff became a billionaire in April 2023, while he added another $600 million to his net worth in 2024, taking his net worth to $1.6 billion.

Christian Horner

While Mercedes has been chasing Red Bull in the races, it is the other way around in terms of pay. Red Bull Team Principal Horner’s salary is reported to be $10 million a year, however, his net worth is estimated to be around $50 million.

James Vowles

Next up on the list is Williams Team Principal Vowles, who took charge in 2023. His net worth is estimated to be around $5 million and prior to Willaims, Vowles was the motorsport strategy director at Mercedes-AMG Petronas Formula One Team.

Fred Vasseur

Next up is Ferrari Team Principal, Fred Vasseur. His name on the list might seem confusing, but he took up the role in 2023 and in the coming years, he is sure to climb up the ladder. As per estimates, the Ferrari Team Principal’s net worth is around $3 million.

Andrea Stella

The McLaren Team Principal comes next, with an estimated net worth of $1.5 million. Andrea Stella has been with F1 for a long time with different teams and roles, and took over his current role in 2022. Stella was Michael Schumacher’s performance engineer during his dimanant years and was also the race engineer for Kimi Raikkonen and Fernando Alonso.

Mike Krack

Mike Krack is well known in the motorsport industry, with stints with BMW in IMSA, Formula E, GT and DTM, and even with Porsche and the World Endurance Championship team. He took over the role as Team Principal for Aston Martin in 2022 and his net worth is estimated to be around $1 million.