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1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteMax Verstappen topped Forbes’ 2024 ranking of the 10 highest-paid Formula 1 drivers, with an estimated $75 million in salary and performance bonuses. Lewis Hamilton ranked second at $57 million, followed by Lando Norris at $35 million. These are estimates of on-track compensation—not total income, take-home pay, or net worth.
2024’s 10 highest-paid Formula 1 drivers
The figures below are Forbes’ estimates of each driver’s 2024 on-track salary plus bonuses, in U.S. dollars. The team column reflects the teams named in the December 2024 report.
| Rank | Driver | Team listed by Forbes | Estimated salary | Estimated bonuses | Estimated total |
|---|---|---|---|---|---|
| 1 | Max Verstappen | Red Bull Racing | $60 million | $15 million | $75 million |
| 2 | Lewis Hamilton | Mercedes | $55 million | $2 million | $57 million |
| 3 | Lando Norris | McLaren | $12 million | $23 million | $35 million |
| 4 | Fernando Alonso | Aston Martin | $24 million | $3.5 million | $27.5 million |
| 5 | Charles Leclerc | Ferrari | $15 million | $12 million | $27 million |
| 6 | George Russell | Mercedes | $15 million | $8 million | $23 million |
| 7 | Oscar Piastri | McLaren | $5 million | $17 million | $22 million |
| 8 | Sergio Pérez | Red Bull Racing | $12 million | $7.5 million | $19.5 million |
| 9 | Carlos Sainz | Ferrari | $10 million | $9 million | $19 million |
| 10 | Pierre Gasly | Alpine | $10 million | $2 million | $12 million |
Source: Forbes Australia, “Formula 1: Highest-Paid Drivers of 2024,” December 11, 2024. Forbes’ estimated totals for the ten drivers add up to $317 million.
What the earnings figures include—and exclude
Salary and bonuses, not every source of income
The ranking measures on-track compensation: salary plus bonuses. Forbes states that it excludes off-track compensation, including endorsements. The estimates also do not subtract taxes or agents’ fees, so they should not be read as drivers’ net income or take-home pay.
#1 Best Overall
- The Hot Wheels Formula 1 10-Pack includes all 10 racing team cars from the 2025 Season in 1:64 scale.
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Estimates, not confirmed contract disclosures
Forbes says few Formula 1 driver salaries are publicly available. It developed its estimates with Forbes.com contributor Caroline Reid of Formula Money, using financial documents, legal filings, press reports, and conversations with industry insiders. The figures are estimates rounded to the nearest half-million; they are not presented as audited contract amounts.
Why salary and bonus rankings differ
Salary alone does not determine a driver’s position on this list. Verstappen had the largest estimated salary, at $60 million, and added $15 million in estimated bonuses. Norris’ bonus estimate was nearly twice his salary: $23 million compared with $12 million. Forbes notes that bonuses commonly relate to points, race wins, or championships; the amounts can also depend in part on team size and driver experience.
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How the 2024 total compares with 2023
Forbes estimated the 2023 top ten’s combined earnings at $258 million. The 2024 top ten reached $317 million, 23% higher and, according to the report, the highest total in the four-year history of its F1 earnings ranking at that time.
That driver-pay total is separate from Formula 1’s business revenue. Forbes reported that the series’ central revenue was $3.2 billion in 2023, citing Liberty Media’s annual earnings release; that figure describes revenue for the series, not combined driver compensation.
Quick Recap
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