F1 Driver Salaries 2022: How Much Do Formula 1 Driver Make?

If you are a Formula 1 fan, then it’s not surprising that F1 legend Lewis Hamilton is the highest-paid Formula 1 driver right now. The world champion Hamilton making $65 million from his deal with Mercedes while his rival Max Verstappen earn around $23.5 million with Red Bull, and Aston Martin driver Sebastian Vettel is now far behind with reported earnings of $23 million. 2022 has witnessed a few contract extension and increment in the F1 driver salaries.

The most successful Formula 1 champion, Lewis Hamilton, remains the best-paid driver, followed by Sebastian Vettel, Daniel Ricciardo, Max Verstappen and Fernando Alonso who received an increment in the F1 salary.

Formula 1 Driver Salaries

F1 Driver Salaries 2022

Drivers

Base Salary

Per Race Salary

Racing Teams

Contract

Lewis Hamilton

$65 million

$2.9 million

Mercedes

2021

Sebastian Vettel

$23 million

$1 million

Aston Martin

2021

Max Verstappen

$23.5 million

$1 million

Red Bull

2023

Valtteri Bottas

$20 million

$900,000

Mercedes

2021

Fernando Alonso

$20 million

$900,000

Alpine

2022

Daniel Ricciardo

$15 million

$681,500

McLaren

2023

Kimi Räikkönen

$12.5 million

$570,000

Alfa Romeo

2021

Charles Leclerc

$12 million

$565,000

Ferrari

2024

Carlos Sainz Jr

$5 million

$227,500

Ferrari

2021

Sergio Pérez

$3.5 million

$160,000

Red Bull

2021

Lando Norris (new contract)

$3 million

$156,500

McLaren

2022

Pierre Gasly

$1.5 million

$68,200

AlphaTauri

2021

Lance Stroll

$1.5 million

$68,200

Aston Martin

2021

Esteban Ocon (new contract)

$1 million

$45,500

Alpine

2024

Antonio Giovinazzi

$1 million

$45,500

Alfa Romeo

2021

George Russell

$600,000

$27,500

Williams

2021

Nicholas Latifi

$600,000

$27,500

Williams

2021

Mick Schumacher

$400,000

N/A

Haas

2021

Yuki Tsunoda

$400,000

N/A

AlphaTauri

2021

Nikita Mazepin

$400,000

N/A

Haas

2021

As you know, Lewis Hamilton is the richest sportsperson in Britain as per Forbes. Hamilton earns a yearly salary of $65million as per his 3-year Contract with Mercedes, worth around $200 million.

READ: Top 10 Richest F1 Drivers in the World

The top earners in Formula 1 drivers also include F1 Driver Sebastian Vettel, who has signed a record deal with Aston Martin F1 and has an annual salary of $23 million per year. Max Verstappen has extended his contract with the Red Bull till 2023 and will receive a base salary of $23.5 million per season.

Who is the highest paid F1 driver?

Lewis Hamilton is the highest-paid Formula 1 driver in the world

Lewis Hamilton is the highest-paid driver in Formula One, according to research. A deal with Ferrari worth $65 million guaranteed per year excluding bonuses, which makes him one of the highest-paid sportsperson in the world.

Formula One also known as F1 Racing is the most competitive and highest class of single-seat car racing sport. It is authorised by FIA (Fédération Internationale de l’Automobile). However, the FIA Formula One Racing began the inaugural season in 1950.

The Series of F1 Races is called as “Grands Prix”. However, “Grands Prix” is derived from French origin meaning Grand Prizes. Moreover, Professional F1 drivers are handsomely paid.

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