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As the top leaders of any F1 team, team principals oversee all the departments, monitor the performance of each head, and make crucial decisions for every race and season. Therefore, they are among the most well-paid people in the paddock, besides the drivers.
Here is a ranked list of the richest team principals on the current grid.
5 richest F1 team principals on the current grid, ranked
#5, Guenther Steiner
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Believe it or not, Guenther Steiner is the fifth richest team principal on the current grid. The Italian-American currently supervises the Haas F1 team. Even though the team has struggled to even survive in the sport for several years now, Steiner is up there when it comes to having a hefty net worth. His current net worth is around $5,000,000, and his current annual salary is around $1,000,000.
While Haas continues to ail and becomes a burden on Steiner's head, he has gained many fans from Netflix's docuseries on the sport, Drive to Survive. Furthermore, he has sold several copies of his book, Surviving to Drive.
#4, Alessandro Aluni Bravi
Sauber's Stake F1 Team might not be doing so well, but its team representative (similar to the team principal), Alessandro Aluni Bravi, has a decent net worth.
Since he is also the managing director of the Sauber Group of companies, he has a lot on his plate. Hence, his current net worth is around $5,000,000, and his annual salary is around $1,000,000.
#3, Frederic Vasseur
At the start of 2023, Frederic Vasseur was tasked with steering the biggest F1 team ever, Ferrari, towards glory. Coming from Alfa Romeo (now Stake), this was a massive opportunity and challenge for him.
However, it is safe to say that his contract must have contained a decent figure. After Vasseur's move was confirmed, Sportune.fr reported that his annual salary could be around $6,500,000 to $8,700,000.
Before his move to Ferrari, his net worth was $3,500,000. According to his reported salary and connection with the sport's most valuable team, his net worth could have also gone up.
#2, Christian Horner
Red Bull is a relatively new F1 team, but it has risen to the top quickly. Its team principal, Christian Horner, has also climbed the ladder fast. He became the youngest team principal in 2005 at 31, leading the Austrian-British team.
The team achieved success from 2010 to 2013 and from 2021 onwards. Therefore, Christian Horner has a net worth of about $50,000,000. He is also the highest-paid team principal, earning $10,000,000 per year.
#1, Toto Wolff
The top spot on this list belongs to a billionaire: Mercedes’ team principal, Toto Wolff. He was named as a billionaire by renowned business magazine Forbes. His net worth reached 10 figures in April 2023, and it probably increased more by the end of 2023, even though his team came second in the constructors’ championship.
Toto Wolff is not just a team principal at Mercedes; he is also the CEO, owning a 33% stake in the team. His net worth is about $1,600,000,000 in 2024, and he makes $8,000,000 a year from his team principal role.
