How much is Max Verstappen’s salary in 2023? Red Bull driver’s contract explored

Reigning F1 champion Max Verstappen is the highest-paid driver on the grid with a long-term contract with Red Bull Racing. Verstappen was set to become a free agent at the end of 2023, however, in the winter of last year he signed a multi-year contract extension with the team with which he won two championships.

Verstappen grabbed the headlines in early 2022, as he signed a record $55.3 million (£40 million) per year contract with Red Bull. The deal extends up to 2028, making it one of the longest contracts on the grid. The Dutchman has his future secured with the championship-winning team for the foreseeable future.

F1 Grand Prix of Australia

At 25 years old, Max Verstappen is one of the highest-paid athletes across all sports in the world. He dethroned Lewis Hamilton, who was the highest-paid driver in F1 for a long time. According to reports, Lewis Hamilton's current salary at Mercedes is around $35 million per year.

Verstappen's whopping $55 million contract doesn't include performance bonuses and other sponsorship deals. Red Bull awards its drivers various bonuses depending on the number of race wins in the season and a hefty cheque if they secure the drivers' championship.

Verstappen is one of the most marketable drivers on the grid, owing to his success in recent years. He has various sponsorship deals lined up for the 2023 season. These include iconic brands TAG Heuer, EA Sports, Viaplay, Dutch-Belgian retail giant Jumbo, and TV channel Ziggo Sport.

Red Bull boss Christian Horner and Verstappen

Red Bull invested heavily in Max Verstappen, hoping to continue their dominance on the track. Entering the 2023 season, the partnership is off to a great start as the #1 driver strives for his third world drivers' championship title.

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A peek into Max Verstappen's lavish lifestyle

Max Verstappen lives a luxurious life in the uber-wealthy Fontvieille district of Monaco. He is a neighbor to the richest people on the planet and many other F1 drivers. He rents a $16.6 million (£13.4 million) house in the principality.

Verstappen's car collection is worth an estimated total of $6.4 million. His car collection includes:

• Renault Clio (gift from his parents)

• Renault R. S. 01 worth $400,000, his first purchase
• Porsche 911 GT3 RS worth $400,000, bought after he won his first race
• Ferrari 488 Pista ($331,000), Mercedes-Benz C63 S AMG ($78,000) and Ferrari Monza SP2 ($1.8m)

The Dutchman has a love affair with Aston Martins, owning four of them:

• DB11, a road-approved version of James Bond's ride in the film Spectre worth ($200,000)

• 2018 Vantage ($150,000)
• DBS Superleggera($360,000)
• His crown jewel is the Valkyrie hypercar - a collaboration between Aston Martin and Red Bull- worth $2.7m

Max Verstappen also owns a private jet that he bought in 2020. The Dassault Falcon 900EX from Virgin Galactic is worth $15m and costs around $1m per year for its maintenance. Being a passionate sim-racing driver, he has a set-up worth around $35,000.

Earning multi-million dollars at the age of 25, Max Verstappen enjoys a luxurious life most people can only dream of.