Lewis Hamilton may trail behind Michael Schumacher in world title wins but when it comes to career earnings the British driver has now overtaken the Formula 1 icon.
According to figures released by Formula Money, five-time world champion Hamilton has earned an estimated $489m (£372.2m) from salary and bonuses since becoming an F1 driver in 2007. He spent six years with McLaren before joining Mercedes in 2013.
Seven-time title winner Schumacher amassed $464m (£353.2m) between 1994 and 2004 after driving for Jordan, Benetton and Ferrari.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Forbes reports that the German’s salary “peaked” at an estimated $38m (£28.9m) and in 1999 he became the No.1 highest-paid F1 driver for career earnings.
Hamilton’s current contract with Mercedes is reportedly worth around $57m (£43.4m) a season, says BeyondTheFlag.com, which is the highest of the 20 drivers in F1. Forbes adds that with bonuses the reigning world champion is closing in on the $500m (£380m) mark - a figure that does not include his personal sponsorships.
The Forbes Rich List reports that in 2018 Hamilton earned a $42m (£31.9m) salary and $9m (£11.8m) in personal endorsements from companies including Sony, Monster Energy, Bombardier Inc, Puma, Tommy Hilfiger, Bose, L’Oreal and Mercedes-Benz. He was the 12th highest-paid athlete in 2018 and 47th on the Celebrity 100 list.
Before the start of the 2018 F1 season the Daily Mail reported that as well as signing a lucrative new contract with his team, Hamilton’s Mercedes race suit featured the logos of 12 sponsors which generated £112m for the constructors’ champions.
The 34-year-old’s deal with the Silver Arrows expires at the end of the 2020 F1 campaign.
F1 total career earnings
Figures according to Formula Money and includes salaries and bonuses only.
- 1 Lewis Hamilton $489m (£372.2m)
- 2 Michael Schumacher $464m (£353.2m)
- 3 Fernando Alonso $458m (£348.7m)
- 4 Sebastian Vettel $358m (£272.6m)
- 5 Kimi Raikkonen $331m (£252m)
-
Giorgio Armani obituary: designer revolutionised the business of fashionIn the Spotlight ‘King Giorgio’ came from humble beginnings to become a titan of the fashion industry and redefine 20th century clothing
-
Crossword: September 13, 2025The Week's daily crossword puzzle
-
Sudoku medium: September 13, 2025The Week's daily medium sudoku puzzle
-
Sports betting is causing athletes to be abused and harassed onlineUnder the radar Baseball players, tennis stars and others have raised the alarm
-
Torpedo bats could revolutionize baseball and players are taking noticeIn the Spotlight The new bats have been used by the New York Yankees with tremendous success
-
How is March Madness changing in the era of NIL and sports betting?Today's Big Question College sports has experienced a revolution. NIL payments are letting players get paid. The rise of sports betting has brought new pressures to the game.
-
Dodgers' spending spree renews push for salary capThe Explainer Spending limits might not be the answer that smaller market teams are looking for
-
How much is Juan Soto worth?Today's big question Will the New York Mets regret the record-setting mega-contract signed by the coveted outfielder?
-
Major League Baseball is facing an epidemic of pitcher's injuriesUnder the Radar Many insiders are blaming the pitch clock for the rise in injuries — but the league is not so sure
-
The cost-benefit analysis of hosting the OlympicsIn Depth Hosting an Olympic Games may not be as economically beneficial as you would think
-
Can MLB solve its uniform crisis?Today's Big Question See-through pants and sweat stains draw derision from players and fans alike
