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Top 10 Highest-Paid Formula One Drivers for 2024

  • Red Bull Racing’s Max Verstappen tops the list with a $55 million salary after the most dominant season in Formula 1 history.
  • RBR is just one of three teams, along with Mercedes and Ferrari, to feature both of its drivers in the top 10 earners.
Austin American-Statesman

Max Verstappen (above) recently capped off the most dominant season in Formula One history, setting the racing series records for most points and wins in a year—and he was paid handsomely for it.

The 26-year-old tops the list of the highest-paid drivers in F1, taking in a salary of $55 million in 2024.

Verstappen’s Red Bull Racing teammate Sergio Pérez checks in at seventh on the list with a salary of $14 million. RBR is just one of three teams—along with Mercedes and Ferrari—to feature both of its drivers in the top 10 earners.

Lewis Hamilton of Mercedes ($45 million) and Charles Leclerc of Ferrari ($34 million) hold the second and third spots on the list. Lando Norris—who checks in as McLaren’s only entry on the list—fills the fourth spot at $20 million.

Mercedes’ George Russell and Aston Martin’s Fernando Alonso round out the top five sharing the position at $18 million a piece.

For winning the Constructors’ Championship, Red Bull took in an estimated $131 million, which will go a long way towards repeating as champions again and keeping their world-class driver happy.

Highest-Paid Drivers for 2024

Here is the list of top-10 drivers in F1 for 2024 according to Spotrac, based on annual salary.

  • Updated: March 15, 2024
  • Will be updated again: March 2025
RankDriverTeamCompensation
1Max VerstappenRed Bull Racing$55 million
2Lewis HamiltonMercedes$45 million
3Charles LeclercFerrari$34 million
4Lando NorrisMcLaren$20 million
T-5George RussellMercedes$18 million
T-5Fernando AlonsoAston Martin$18 million
7Sergio PérezRed Bull Racing$14 million
8Carlos SainzFerrari$12 million
9Valtteri BottasStake F1 Team$10 million
10Daniel RicciardoVisa Cash App RB$7 million
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