Max Verstappen net worth 2024: $200 million and rising.
What is Max Verstappen’s net worth?
Max Verstappen is a Belgian-Dutch racing driver with a net worth of around $200 million. He made history in 2015 at the Australian Grand Prix by becoming the youngest driver to compete in Formula 1 at just 17 years old. In 2021, he won the Formula 1 world championship while racing for Red Bull Racing. Coming from a racing family, his father Jos also had a stint in Formula 1.
Max began his career at Scuderia Toro Rosso in 2015, then joined Red Bull Racing in 2016. At just 18 years old, he won the 2016 Spanish Grand Prix, making him the youngest driver to win a Grand Prix . Following his victory at the 2021 Abu Dhabi Grand Prix, he became the first Dutch driver to win the Formula 1 world championship title. Verstappen played a key role in the revival of Honda-powered cars, achieving 19 victories. Prior to his 2021 championship, he finished third in 2019 and 2020.
In 2024, Max celebrated his fourth consecutive World Drivers’ Championship victory.
Formula 1 salary/earnings
Max Verstappen ranks among the top earners in the Formula 1 scene. In 2020, he signed a three-year contract with Red Bull Racing, guaranteeing a stable annual salary of $55 million. Fast forward to 2023, and he’s reportedly raking in $67 million from Red Bull alone, which breaks down to $43 million in salary and another $24 million in bonuses. Factoring in his endorsements of Heineken and EA Sports, his total revenue for 2023 reached around $80 million. Plus, living in Monaco means he doesn’t have to pay income tax on that money.
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Early life
Max Emilian Verstappen was born on September 30, 1997 in Hasselt, Belgium. Growing up with a younger sister in a family with deep roots in motorsport, it was clear that Max was on his way to becoming a Formula One driver. His father, Jos, raced in the sport and his mother was into karting. Additionally, he has relatives who raced in the NASCAR Whelen Euro Series. Even though he was born in Belgium, Verstappen proudly represents the Netherlands in his racing career. Interestingly, he started competing in Formula 1 about a year before he even got his driver’s license.
Max began his racing journey at just four years old, delving into karting and accumulating several championships in 2007. In 2010, he moved into international karting and took second place behind Alexander Albon in of the KF3 World Cup. Albon would later join him as a teammate at Red Bull Racing. By the end of 2012, Max had won several international championships and was ready to take up Formula racing.
Career
Verstappen first hit the track in 2013, taking the wheel of a Formula Renault car at the Pembrey circuit. Over the next few years, he tested different Formula Renault models, setting impressive lap times and outpacing more experienced drivers. In 2014, he made his official racing debut in the Florida Winter Series, quickly racking up wins before moving to Formula 3. He spent one season in the FIA Formula 3 European Championship, finishing third and winning ten victories. By then it was clear that Verstappen was ready for Formula 1.
In 2014, Max joined the Red Bull Junior Team, even though he had offers from Mercedes. Later that year, he made history as the youngest driver to compete in a Grand Prix weekend at the Japanese Grand Prix, although he only competed in the session free trials. At the Australian Grand Prix, he became the youngest driver to start a World Championship race at just 17 years old, breaking a record held by someone almost two years older. Unfortunately, his first race did not go as planned and he had to retire due to engine problems.
After that, he achieved some good results, but then had a high-speed collision with Romain Grosjean, hitting the rear of the Lotus driver and hitting the barriers. This incident sparked some controversy, leading to a penalty and earning him the label “dangerous” from other drivers. Despite the ups and downs, Verstappen finished the season with strong performances, collecting accolades such as “Rookie of the Year”, “Personality of the Year” and “Action of the Year”.
Verstappen began 2016 with a short stint at Toro Rosso before making the jump to Red Bull, replacing Daniil Kyvyat at the Spanish Grand Prix. He quickly made a name for himself by winning this race, becoming the youngest driver in Formula 1 history to achieve this honor. During this time, Max faced backlash for his aggressive driving and even received a warning from F1 boss Charlie Whiting. One of his standout moments that year was an incredible charge from 16th to the podium in just 15 laps at the Brazilian Grand Prix.
The 2017 season was a bit difficult for Max, with several retirements due to crashes and mechanical issues. But by the end of the year, he was clearly showing signs of improvement. In 2018, he found himself in numerous incidents, including errors and collisions, but he managed to finish the season strong in fourth place.
He stepped up his efforts further in 2019, securing a third place along with three wins and nine podiums. After extending his contract with Red Bull, he repeated this third place finish in 2020. The following year, in 2021, Max battled it out with Lewis Hamilton for the championship, eventually clinching the title by overtaking Hamilton on the final lap. of the Abu Dhabi Grand Prix.
Max Verstappen’s dominance in Formula 1 continued with his back-to-back World Championship victories in 2022 and 2023, cementing his legacy as one of the sport’s greatest drivers. In 2022, Verstappen won his second title after a sensational season, taking 15 race victories, breaking several records and displaying unrivaled consistency. His 2023 campaign was even more dominant, with Verstappen finishing first in a record 16 races and winning his third consecutive title, making him the first driver since Michael Schumacher to win three championships in a row.
In 2024, Max Verstappen has just won his fourth consecutive championship by narrowly beating Lando Norris who made a late attempt for the title. Looking ahead, it’s hard to see anything other than more dominance from Verstappen in the years to come.
Private Jet
Max Verstappen has invested a large part of his fortune in a magnificent private jet, valued at around 12 million pounds (around $16 million). He allegedly paid this massive sum to Richard Branson in 2020, who was the previous owner of the plane. It is a Falcon-900EX, equipped with Honeywell engines and offering a range of nearly 9,000 km. It can reach top speeds of up to 892 kilometers per hour. Additionally, it is important to note that maintaining the aircraft costs around £1 million each year. And yes, it even has its own bar!
Real estate
Max is said to live in a £13 million penthouse in Monte Carlo, although he is apparently renting it. Despite all the buzz, Verstappen says he didn’t choose this location for the tax benefits.
Cars
When it comes to cars, being a Formula 1 driver means you have to have a nice car collection, and Verstappen definitely delivers. He has a soft spot for Aston Martins, and in 2021 there were rumors that he was looking forward to the arrival of a £2million Valkyrie.
Max Verstappen’s rise to Formula 1 has been nothing short of extraordinary. From breaking records as the youngest driver in F1 history to dominating the sport with back-to-back championships in 2022 and 2023, he has proven himself to be one of the greatest talents that the world of motor racing has ever known.
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With a relentless quest for success, Verstappen continues to build his legacy, winning a fourth consecutive title in 2024. His skill, determination and consistency have made him a dominant force, and his future in Formula 1 looks brighter than ever. Never. Verstappen’s journey is an inspiring story of excellence and success.