How much do F1 drivers make?

Formula 1 is one of the sport which involves a lot of money and successful driver in F1 can earn a lot of money, with reports showing in 2021, that F1 earned more than $2 billion in revenue. On the average, an F1 driver can earn up to $1 million per year.

Currently, Mercedes’ Lewis Hamilton is the highest paid F1 driver and he earns a whopping $40million per year, with the least earning being AlphaTauri’s Yuki Tsunoda who earns $750,000 per year.

Below is a list of F1 earnings for 2022 as compiled by motorsporttickets.com;

However, what a lot of people are not aware of is that Race winnings in F1 are not paid to drivers directly. Instead, the racing teams pay the driver’s salaries.

The salaries to be paid by the racing teams is determined by the contracts the racing teams have with their drivers, making it difficult to peg all F1 drivers at one level.