If you’re into formula one racing, you will have heard of Lewis Hamilton. The British racer is one of the most famous names in modern formula one. In fact, after Michael Schumaker’s retirement, he might even be the most famous name! But, do you know what Lewis Hamilton’s net worth is?
What’s the biggest face in F1 making these days, how is he making it, and how is he spending it?
Find out everything you need to know in this guide to Lewis Hamilton’s net worth, including his annual take-home and his assets.
Lewis Hamilton Net Worth
The net worth of this formula one racing driver is a very comfortable $285 million. Every year, he takes home around $50 million, keeping his worth growing at a steady rate. Widely recognized as one of the greatest F1 racers of all time, it’s no surprise that Hamilton has generated a healthy income over the years.
How Does Lewis Hamilton Make His Money?
If you’re wondering where Lewis Hamilton’s salary comes from, there are a few different streams. Of course, he made most of his money by being part of the Mercedes F1 team. This is still the case even now when his name gives him plenty of endorsement opportunities to bring in extra income.
Driving for the Mercedes-AMG Petronas Formula One Team and the contract he holds with them is still his main source of income by a long way. Every year, driving earns him $40 million, making up 4/5ths of his entire income.
He owes his income now due to a go-kart he was gifted at just six years old. Until that point, he had largely been interested in soccer (or football, as he would call it) and karate. But after the gift, his obsession with racing quickly grew and his parents supported him, starting him on the path to where he is today.
Now, he holds seven World Driver’s Championship titles, tying him with Schumacher and solidifying his position as one of the best in the world. He was also knighted in 2021 in recognition of his achievements. Whoever bought him that go-kart was definitely on to something!
Lewis Hamilton Endorsements
The remaining $10 million in Lewis Hamiltons net worth come from work on the side, separate from his driving. Though not quite as profitable as his time on the track, this extra income is definitely worth having and bolsters Hamiltons net worth.
The deals he holds include contracts with Puma, Sony, and Monster Energy. He also does plenty of marketing campaigns with Mercedes which lie outside of his racing contract, so he’ll of course be paid extra for this work.
Although not all too commonly seen on American TV, Hamilton does frequently appear in European commercials – particularly in Britain where he’s a well-known face. He also attends promotional events for those brands he has deals with and will undoubtedly receive a check each time he does.
Hamilton is known for only working with brands that will give him a voice, showing that he definitely has integrity when it comes to making money. For example, it’s been reported that he was a driving force behind Mercedes switching their leather seats to a synthetic, cruelty-free replacement. As a huge, multinational corporation, that goes to show just how much sway Hamilton holds over the company.
How Does Lewis Hamilton Spend His New Worth?
Now that everyone knows how much he earns, it’s time to move on to a topic that’s just as exciting; how Lewis Hamilton spends his money!
A good place to start is with the activism he funds. His work helping Mercedes go cruelty-free on their seating isn’t the only good deed this F1 racer’s done in the public eye.
Activism and Donations
In 2020, Lewis Hamilton is reported to have donated $500,000 to the management of terrible Australian bush fires. Half a million dollars definitely isn’t a small amount of money, showing just how into good causes Hamilton is. He also sold his private jet (worth $25 million) and reinvested the funds into creating a carbon-neutral home for a more sustainable future.
Another activism path Hamilton has invested in is The Hamilton Commission. This is a partnership he established with the Royal Academy of Engineering that looks to uncover black students with exceptional talents in engineering, math, and driving.
So much of Hamilton’s spending goes towards activism that his own personal spending seems to pale in comparison.
Lewis Hamilton Assets
One of the more famous assets is the Lewis Hamilton car collection. As an F1 racing driver, it would seem strange for the celebrity not to own his fair share of supercars!
The collection is worth $18 million and includes a world-famous McLaren P1 that’s reported to be worth over $2 million.
He’s also known to enjoy splashing out on fashion. One watch he owns – an IWC Schaffhausen Pilot World Timer – is valued at approximately $7,000. While definitely not the most lavish accessory money can buy, it’s still a large expense.
Lewis Hamiltons Home
Lewis Hamilton lives in a beautiful historic house in Kengsington, worth a reported $25 million. In 2019, he sold his New York penthouse for $57 million and he still owns a $13 million Monte Carlo apartment.
Lewis Hamilton Net Worth & More!
Lewis Hamilton’s net worth is no secret, and it’s not the only celebrity net worth we know about. If you’re interested in other athletes’ net worths, we’ve got you covered here.