Lewis Hamilton’s F1 career earnings cross $500 million

BY Ben Ebuka Oji January 8, 2024 10:00 AM EDT
Lewis Hamilton
Lewis Hamilton. Credit: Planet F1

Lewis Hamilton’s illustrious career has been defined by a multitude of achievements, notably his inaugural championship triumph with McLaren in 2008. Astonishingly, he has since clinched an additional six titles consecutively under the Mercedes banner, asserting his dominance over the sport between 2014 and 2020. This remarkable feat places Hamilton in the esteemed company of the legendary Michael Schumacher as one of only two drivers in the history of Formula 1 to have secured seven championships.

With an impressive tally of 103 race victories and seven championship titles, the British driver is the most successful driver in the annals of Formula 1.

Despite a zero win in the 2022 season and enduring a challenging campaign in 2023, where he failed to secure a single win in 18 races, Hamilton has remarkably ascended from a sixth-place finish in 2022 to the third spot in the current standings. While this performance may fall short of his lofty standards, it is worth noting that Hamilton did manage to reach the podium in six races during the 2023 season – his lowest number of podium finishes since 2013, when he achieved five podiums in 19 races.

Lewis Hamilton, representing Mercedes-AMG Petronas, concluded the 2023 season with an impressive $55 million in earnings, as estimated by Forbes. This outstanding achievement placed him second on Forbes’ list of the highest-paid Formula 1 drivers in 2023. It is important to note that Forbes’ ranking solely considers salaries and bonuses from the sport, excluding income from endorsements and other business ventures.

As a result, his total career earnings have now reached an astounding $532,160,000 million, according to Spotrac, placing the 38-year-old in an exclusive group of athletes who have earned over half a billion dollars throughout their careers.

Hamilton remains a top contender for the 2024 season as he aims to secure a record-breaking eighth F1 World Championship. In August 2023, he extended his contract with Mercedes, ensuring his eligibility to compete and represent the team in 2024 and 2025. This partnership has yielded numerous successes for Hamilton who has also ventured into fashion, media production and beverages.

Additional projections indicate that Hamilton’s total earnings may surpass the $600 million mark by 2025, aligning with the conclusion of his recent contract extension.