When millionaire Michael Schumacher rejected an iconic role within Ferrari

Michael Schumacher, widely renowned as one of the most successful drivers in F1, was offered the role of being Ferrari's team principal following his first retirement in 2006. However, the German driver wasn't ready for a big commitment as he wanted to spend his time with his family, prompting him to reject the offer.

Schumacher, who has a net worth of $600 million (via Celebrity Net Worth), had won seven world championships (five with Ferrari) when he decided to move away from the racing world. He announced his retirement in 2006 only to return in 2010 with Mercedes, where he drove for another three years.

Meanwhile, former Ferrari team principal Jean Todt had different plans for Schumacher. The iconic team boss had set his sights on being in charge of the FIA. Hence, he stepped down from his role with the Italian team in 2004.

According to Racingnews365, Todt approached Michael Schumacher with an offer to be his successor. However, the German driver rejected the plea as he wanted to devote more time to his family. He wasn't keen on moving to Maranello full-time as the pressure was significant. Speaking to the International Herald Tribune, he said:

"I saw how much dedication and passion he put into his job, being in Maranello every day, even on weekends. Then I said to myself: 'Can I handle that?' The answer was simple: no."

Eventually, Stefano Domenicali, the current F1 president, took over as Ferrari's team principal, with Schumacher spending three years off the F1 grid. He returned to the paddock in 2010 with Mercedes before getting replaced by Lewis Hamilton after the conclusion of the 2012 F1 season.

Regardless, Schumacher's historic association with Ferrari is still remembered as one of the most iconic partnerships. The 56-year-old won five titles back-to-back and unleashed an extraordinary era of dominance, leaving an unmatched legacy in the sport.

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Mick pays tribute to Michael Schumacher on the legend's birthday

Michael Schumacher's son and wife (Image Source: Getty)

Mick Schumacher, the son of former F1 legend Michael Schumacher, wished his dad on his 56th birthday. The legend turned 56 on January 3, 2025, and received tributes from the F1 community as many wished him a speedy recovery. He met with a near-fatal accident in 2013 while skiing.

Meanwhile, Mick shared a picture of his parents on social media and expressed gratitude for their love and support. The 25-year-old also referred to Michael as his 'hero' to celebrate his legacy.

"Grateful for the unconditional love of my parents and celebrating my dad, my hero, on his special day," Mick wrote on Instagram.

Michael Schumacher and Corinna got married in 1995. The couple was blessed with two kids, Gina Maria and Mick. Gina got married in 2024 and, months later, announced her first pregnancy.