Mercedes-Benz, commonly referred to as Mercedes and sometimes as Benz, is a German luxury and commercial vehicle automotive brand established in 1926. Mercedes-Benz AG is headquartered in Stuttgart, Baden-Württemberg, Germany.
The Mercedes F1 team is now equally owned by three parties: Toto Wolff (33%), Mercedes' parent company Daimler AG (33%), and chemical company INEOS (33%).
Profile. Toto Wolff is Team Principal, CEO & co-owner of the Mercedes-AMG Petronas F1 Team. From humble surroundings in Vienna, Austria, Toto's first taste of motorsport came at the age of 17, when he watched a friend compete at the Nürburgring in Germany.
After running multiple successful investment businesses and managing junior drivers, Wolff joined Williams Racing in 2009 as an investor and, later, as executive director. He jumped to Mercedes in 2013, buying an original 30% stake for an estimated $50 million.
Toto Wolff, F1 Mercedes team CEO, career advice on LinkedIn | Fortune.
Toto Wolff has explained his big-money mind-set as part-owner of Mercedes' F1 team. The 51-year-old Austrian is team principal and also owns 33 percent of Mercedes F1 (Sir Jim Ratcliffe, Britain's richest man, owns another 33 percent via his company INEOS, and Daimler, who own Mercedes-Benz, have 33 percent).
With major changes coming to Formula 1 in 2026, Mercedes is staying the course. The iconic carmaker extended its title and technical deal with Malaysian oil company Petronas from 2026. The deal is for $75 million per season.
Lewis Hamilton is motorsports' richest driver — here's how he makes and spends his millions. Lewis Hamilton is the biggest star in motorsports and takes home $57 million a year from his Mercedes contract. He is one of the best drivers of all time, tied with Michael Schumacher with seven F1 championships.
Red Bull's owner, Dietrich Mateschitz, reportedly tried to recruit former Formula One driver and BMW Motorsport chief (and fellow Austrian) Gerhard Berger to help guide the team through its debut season.
He also has a few Ferraris, a Porsche, and a Mercedes in his garage. His collection can even rival the likes of Lewis Hamilton, Charles Leclerc and Sebastian Vettel's car collections. So without further ado, here are some of the most expensive cars Max Verstappen has owned over the years.
Verstappen also owns a Ferrari 488 Pista ($331,000), a Ferrari Monza SP2 ($1.8m), and a Mercedes-Benz C63 S AMG ($78,000)
Despite the enviable list of supercars, it's far from just about speed for Hamilton, who clearly loves American muscle. Owning a number of Shelby Cobras over the years as well as a Ford Mustang, Hamilton also purchased the ultimate Chelsea tractor, a Mercedes-AMG G63 6X6.
Red Bull has two F1 teams, with the second operating out of Faenza in Italy as a place for the company's junior drivers to start their careers. It is currently named after the company's fashion brand and formerly ran as Toro Rosso (Italian for Red Bull).
The Mercedes-AMG Petronas Formula One Team is delighted to announce that INEOS will become a one third shareholder in the team, which will be owned in three equal parts by Daimler AG, INEOS and Toto Wolff. The INEOS one-third stake in the team will be in addition to its existing role as Principal Partner.
Gene Haas, who owns teams in F1 and NASCAR, namely Haas and Stewart-Haas racing, also owns the biggest bone of contention in the said revelation, Haas Automation. The American sanctions have choked the Russian economy.
But first, with a net worth of almost £200m more than Verstappen, is Hamilton, despite his woes at Mercedes in the last two years.
Who is the richest driver in F1? The wealthiest active driver in F1 is Lewis Hamilton.
Red Bull generates revenue through many things, but especially by selling its energy drinks at a high price. However, the brand reinvests most of its profits back into marketing campaigns.
Attaching a definitive price tag on an F1 car is extremely difficult, however, according to Red Bull, each car is estimated to cost around $12-16 million USD. For the 2023 season, teams are permitted to spend a maximum of $135 million (£109m) on materials and activities related to car performance.
In a sport where milliseconds matter, it would be difficult to find a better partner than Rolex. According to Forbes, Rolex pay an estimated annual fee of $50 million to Formula 1 in order for their logo to be plastered on cars, drivers and advertising boards at race tracks.