Lewis Hamilton’s $300 Million Net Worth: The Formula 1 Champion’s Career and Achievements.
What is Lewis Hamilton’s net worth?
Lewis Hamilton is a British F1 driver with a net worth of $300 million. He began his journey in Formula 1 with McLaren and won his first championship in 2008, making history as the youngest world champion at that time. In 2013, he joined Mercedes, where he won six more titles (2014, 2015, 2017, 2018, 2019, 2020). Recently, on February 1, 2024, it was announced that Lewis will join Ferrari after the end of the 2024 season.
Salary and contracts
Lewis is one of the top earners in F1 and ranks among the highest paid athletes in the world. Typically, he earns between $70 million and $90 million per year, much of which comes from his contract with Mercedes, worth $60 million per year.
In July 2023, Lewis signed a two-year contract with Mercedes, guaranteeing him $60 million per year for the 2024 and 2025 seasons. However, he decided to part ways with Mercedes after just one season and will join Ferrari for the season 2025. Reports suggest he could earn up to $107 million per year with Ferrari.
From June 2016 to June 2017, Lewis Hamilton earned around $50 million from endorsements and prize money. The following year, he earned $51 million, and over the next 12 months, his earnings jumped to $55 million.
Early life
Lewis Carl Davidson Hamilton was born on January 7, 1985 in Stevenage, Hertfordshire, England. Her mother, Carmen, is white, while her father, Anthony, is black. Hamilton identifies as black. His parents separated when he was just two years old, and he lived with his mother and half-sisters until he was 12. After that, he moved in with his father, stepmother and half-brother Nicolas. At the age of five, Hamilton began practicing karate for self-defense due to bullying at school.
When he was six, his father gave him a radio-controlled car and the following year he took second place in the British Radio Car Association championship. That same Christmas, his father gave him a kart. Anthony Hamilton has vowed to support his son’s racing dreams as long as he continues his education. Lewis went to John Henry Newman School, a Catholic secondary school in Hertfordshire, and also played football there. In early 2001 he began studying at Cambridge Arts and Sciences.
Career
Lewis Hamilton’s journey began with a bold move when he approached McLaren boss Ron Dennis and said: “I want to race for you one day…I want to race for McLaren one day.” That’s pretty brave for any young driver, especially considering he was only ten years old at the time.
In 1998, Hamilton joined the McLaren Young Driver program and in 2007 he officially became a Formula 1 driver for McLaren. He made history as the first and only black driver in the sport. In his first season he finished second behind Kimi Räikkönen. The following year, 2008, Hamilton won his first F1 world championship title, sealing the deal in the final race of the season.
He moved to Mercedes in 2013 and won back-to-back titles in 2014 and 2015. He repeated this feat in 2017 and 2018 and then again in 2019. Currently, he has seven world championships, which makes him tied for place with Michael. Schumacher for the most in F1 history.
In 2018, Hamilton launched his clothing line TOMMYXLEWIS during New York Fashion Week, in collaboration with American designer Tommy Hilfiger and models Winnie Harlow and Hailey Baldwin.
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Throughout his career, Lewis Hamilton has caused drama on and off the track. He is always in the spotlight and people tend to analyze his every word.
While racing in Spain, he was the victim of racial insults from some Spanish fans, largely fueled by his intense rivalry with Spanish driver Fernando Alonso. Hamilton recognizes his competitive nature, which can sometimes create friction with other riders.
Just a week before the 2018 German Grand Prix, Hamilton signed a two-year contract extension with Mercedes, reportedly worth nearly $50 million per year.
In June 2020, Hamilton announced that he would drive a brand new all-black Mercedes to show his support for Black Lives Matter. He has openly denounced the lack of diversity in Formula 1. The car, nicknamed Black Arrow, was designed by Hamilton himself and made its first appearance in Austria over the July 4 weekend as the delayed F1 season was finally starting.
In 2022, major changes took place in the technical regulations, leading to new car designs, and Hamilton faced a difficult season. He managed to secure nine podiums, but failed to win a race or secure a pole position for the first time in his F1 career.
Personal life
In November 2007, Lewis Hamilton began a relationship with Nicole Scherzinger, the lead singer of the Pussycat Dolls. They decided to go their separate ways in early 2010 to focus on their careers, but they were seen together at the Turkish and Canadian Grands Prix that same year. The couple had an on-and-off relationship from 2011 to 2015 before splitting for good in February 2015.
After his breakup with Scherzinger, rumors swirled that he dated longtime friend Rihanna for a while. He was also linked to Rita Ora, Miss Finland Lotta Hinsa, Miss Grenada 2007 Vivian Burkhardt, model Winnie Harlow, Hungarian model Barbara Palvin and Sofia Richie. Plus, he had a romantic getaway to Dubai with Nicki Minaj.
Lewis follows a vegan lifestyle.
Some MPs have criticized Hamilton for living abroad to avoid paying taxes in the UK.
Interestingly, it is named after Olympic sprint legend Carl Lewis.
A big Arsenal fan, Hamilton mentioned that if he hadn’t pursued a career in Formula One, he might have become a footballer or a cricketer, since he played both sports in high school.
In 2022, Lewis shared that he was in the process of legally changing his name to add his mother’s maiden name, Larbalestier, as his middle name.
In June 2022, Hamilton was honored as an honorary citizen of Brazil after a proposal by politician Andre Figueiredo gained the green light from the Brazilian Chamber of Deputies.
Then, in September 2022, Hamilton launched Team X44 to compete in the all-electric SUV off-road racing series, Extreme E. Team , she was rewarded. the Extreme E Sustainable Development Award. They won the 2022 championship, edging out RXR, who ended up being disqualified from the race.
Additionally, in 2022, Hamilton became a member of the new Denver Broncos ownership group.
Real estate
In 2019, Hamilton put his New York penthouse on the market for a whopping $57 million. This place is in the same Tribeca building where celebrities like Justin Timberlake, Jessica Biel, Meg Ryan, Jake Gyllenhaal, and Bella Hadid reside. At 8,900 square feet, it is the largest penthouse loft in the building.
He bought it for $43.9 million in 2017. In December 2021, he sold it for $50 million, but interestingly, he never actually lived there. Perhaps that’s because he also owns another penthouse a few doors down, at 70 Vestry Street, which he purchased in 2019 for $40.7 million.
In addition to this, Hamilton owns a stunning four-story, six-bedroom, four-story mansion in Kensington, West London, dating back to 1860, valued at $25 million.
He also owns apartments in Nyon, a suburb of Geneva, Switzerland, and Monaco, as well as a property in Colorado where he plans to settle after retirement.
Personal car collection
Lewis Hamilton’s car collection is estimated to be worth at least $40 million, thanks to cars he has shared on social media or confirmed as part of his official lineup. His 1995 McLaren F1 alone is valued at around $20 million. Here are some of the most notable cars from his impressive collection:
McLaren F1 1995 – $20 million
Ferrari LaFerrari Aperta $4.1 million
Ferrari LaFerrari – $4 million
Mercedes-AMG One – $2.7 million
McLaren P1 – $1.8 million
1967 Ford Mustang Shelby GT500 – $1.4 million
Mercedes-AMG SLS Black – $270,000
AC 1966 Shelby Cobra 427 – $100,000
Total for just these eight cars: $34.4 million
Lewis Hamilton’s journey from a young karting enthusiast to one of the world’s most successful and richest athletes is truly inspiring. With a net worth of $300 million, he has not only dominated the world of Formula 1 with seven world championships, but has also made significant strides in the fields of fashion, activism, and business.
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His commitment to excellence on and off the track has earned him a global fan base and numerous accolades. As he continues to push the boundaries, Hamilton’s legacy as a pioneering figure in motorsport will certainly endure for years to come.