Formula 1 stands as one of the most exhilarating and financially rewarding sports in the world, with a blend of cutting-edge technology, skill, and high stakes that attract massive attention and equally enormous salaries. In 2024, the sport continues to pay its top athletes staggering amounts, with even reserve drivers commanding impressive six-figure sums. At the top, the numbers increase dramatically, with the best drivers in the world earning tens of millions. Here’s a detailed look at the highest-paid Formula 1 drivers this year.

Max Verstappen of Red Bull Racing is the sport’s top earner, raking in an incredible $55 million in base salary alone, not counting bonuses. The Dutch driver, who claimed his first world title in 2021, has been a dominant force on the F1 circuit ever since. He holds several records, including the most consecutive wins in the sport and the distinction of being the youngest-ever F1 race winner, having claimed victory at just 19 years old. Verstappen’s continued excellence on the track and his commanding presence have solidified his spot as the highest-paid driver in the sport. His current position as the world’s number one driver only emphasizes his immense value to Red Bull.

Lewis Hamilton, one of the most well-known names in the sport, is right behind Verstappen with an annual salary of $45 million. Hamilton’s career is nothing short of legendary. Since joining Mercedes in 2013, he has claimed a record-tying seven Formula One World Drivers’ Championship titles. Despite his long tenure with Mercedes, Hamilton’s time with the team is expected to end soon, as he is set to join Ferrari in 2025. Although details of his future salary have not yet been revealed, it’s anticipated to be another lucrative deal given his illustrious career and consistent performance. Hamilton’s move to Ferrari marks a significant shift in the sport, with fans eager to see how he will adapt to the new team.

Charles Leclerc of Ferrari earns $34 million annually. Leclerc made his F1 debut in 2016, and in the years since, he has risen to prominence as one of the sport’s most promising talents. In 2022, he finished second in the driver standings, and despite a slightly lower fifth-place finish in 2023, he remains a top contender in the current 2024 season, where he sits in third place. Leclerc’s contract with Ferrari runs until 2029, and during that time, he hopes to add more championship titles to his name. His continued success with Ferrari has helped him become a household name in F1.

Lando Norris, who drives for McLaren, is one of the youngest drivers on the circuit but still commands a $20 million salary. Having spent his entire professional career with McLaren, Norris has yet to win a championship but holds the role of senior driver for the team. His potential is widely recognized, and he’s seen as one of the future stars of the sport with many years ahead of him to develop and succeed.

George Russell, the English driver for Mercedes, earns $18 million per year. Russell joined Mercedes’ junior driver program in 2017 and has since climbed the ranks to become a mainstay in their lineup. He secured his first and only race win at the 2022 Brazilian Grand Prix, and although he has not claimed a championship title yet, his 14 podium finishes since his debut highlight his consistent performance and potential to achieve even greater success in the future.

In summary, these top F1 drivers enjoy incredible salaries reflective of their skills, dedication, and contributions to the sport. With lucrative contracts and exceptional talent, they continue to be some of the best-compensated athletes in the world.