Max Verstappen, born on September 30, 1997, in Hasselt, Belgium, races for Red Bull Racing. In 2015, he made his Formula 1 debut at 17 for Toro Rosso and became the youngest driver in F1 history. He was promoted to Red Bull Racing mid-season in 2016 and made history as an F1 Grand Prix winner at 18 years and 227 days, the youngest winner of an F1 Grand Prix, upon scoring his maiden victory in the Spanish Grand Prix in his first race with the team.
As of November 2024, Verstappen has won his fourth consecutive World Drivers Championship title, it was clinched during the Las Vegas Grand Prix. This win puts him in a league of super talents with four titles similar to Alain Prost and Sebastian Vettel. However, the 2024 season was not easy for Verstappen as he had several internal team dynamics issues besides stiff competition from teams like McLaren and Ferrari. He proved his ability and strong will, winning eight races from 22 with two rounds to go. His performance has been acclaimed as the best season so far with his ability to constantly show fantastic performance without driving the fastest car in the grid.
How much does Max Verstappen make a year?
As of 2024, Max Verstappen is one of the highest-paid athletes in sports and his estimated yearly pay is roughly $55 million, with the individual topping the list for Formula 1 earners. It is based on base pay and does not include bonuses or additional ends he makes. According to Forbes, the Dutchman earned an estimated $70 million in 2023, including bonuses for race wins and championship performance.
He can get a huge increase in his income through bonuses; he received an approximation of $25 million in bonuses alone after the 2023 season, as he won 19 races with a record-breaking run. Verstappen's financial trajectory has significantly increased over the years. In 2021, his wage was reported at $40 million, up to $42.5 million in 2022. In 2023, his earnings reached $70 million based on his track and leading positions in Formula 1 revealed much about his ability and prominence in the sport. His contract for Red Bull Racing remains a multi-year one that remains in effect at least until 2028, providing more security and stability in his finances in the sport.
In addition to a salary from his team, Red Bull Racing, Verstappen generates income through endorsement with other brands, like Heineken and EA Sports, hence his overall financial gain. He is estimated at nearly $210 million arising from both his earnings through the races and money realized from sponsorship deals.
What is Max Verstappen's salary at Red Bull?
Max Verstappen's estimated annual salary for the 2024 season is $55 million, making him one of the best-paid drivers in Formula 1, earning more than other top competitors like Lewis Hamilton and Charles Leclerc. His income includes a base salary with performance-related bonuses.
In the previous years, Verstappen's salary has been rising accordingly, In the 2023 season, he earned about $70 million, which comprised his base salary of around $45 million and some special bonuses that amounted to around $25 million. His contract is a multi-year deal that extends through at least the end of the 2028 season for the time being, at Red Bull Racing.
Verstappen's earnings are supplemented by a healthy bonus system that is race-performance-driven, he gets paid around $1.5 million for each race win, so the amount he earns per season depends on how many races he wins. In 2023, he won a record number of 19 races, and this paid off handsomely in terms of bonuses.
Also Read: How many grand prix has Max Verstappen won?
FAQs on Max Verstappen salary
Max Verstappen is from Belgium, although he races under the Dutch flag due to his Dutch nationality.
Max Verstappen's full name is Max Emilian Verstappen.
Max Verstappen was born on September 30, 1997, in Hasselt, Belgium.
Max Verstappen began his Formula 1 career with Scuderia Toro Rosso in 2015 and was promoted to Red Bull Racing in 2016, where he continues to race till date.
