Alex Albon, Yuki Tsunoda, and the Lowest Earning Formula 1 Drivers On the 2024 Grid

• Formula 1 driver earnings typically mirror their exceptional driving skills
• Underperforming drivers find themselves at the lower end of the pay scale
• Sports Brief takes a closer look at the least-paid Formula 1 drivers on the 2024 grid

As the epitome of motorsport excellence, Formula 1 reigns supreme as the most lucrative realm any racing driver could aspire to enter.

The multimillion-dollar investments poured into crafting the engineering marvel known as the Formula 1 car are a testament to the vast resources available to F1 teams at the beginning of each season.

Competing teams routinely expend hundreds of millions of dollars annually to participate in the sport, including hefty driver salaries.

This means that drivers like Max Verstappen, and Lewis Hamilton, command significant incomes every season. However, on the flip side, some drivers may earn comparatively modest salaries from their contracts.

The top 20 best American sports cars of all-time ranked

MotoGP

Typically, drivers at the lower end of the grid receive substantially less income than those at the front. Additionally, rookie drivers earn far less than their more seasoned counterparts. Against this backdrop, Sports Brief delves into the earnings of the lowest-paid drivers of the 2024 season.

Lowest paid Formula 1 driver of 2024

Sargeant & Tsunoda

Williams driver, Logan Sargeant, shares the title of lowest-paid driver with Visa CashApp RB (VCARB) driver, Yuki Tsunoda, both currently earning salaries in the region of $1 million, according to data from RacingNews365.

However, while their earnings may be similar, their performances are clearly worlds apart. Since bursting onto the scene, Sargeant has developed a habit of finishing at the back of the grid, as evidenced in the opening race of the 2024 season. On the other hand, Tsunoda has had notable success, including a career-best fourth place at the 2021 Abu Dhabi Grand Prix.

Which is the fastest F1 car ever? Find out all the details here

Formula 1

Hulkenberg & Zhou

Close behind Tsunoda and Sargeant on the list of lowest-earning drivers on the 2024 F1 grid are Haas driver, Nico Hulkenberg, and Stake F1 team’s Zhou Guanyu, both commanding salaries in the region of $2mil.

They are also among the drivers classified as the backmarkers of the F1 grid. Nonetheless, both Hulkenberg and Zhou frequently demonstrate flashes of their brilliance and occasionally secure points for their respective teams.

Stroll & Albon

Lance Stroll and Alex Albon also make the list of lowest-earning drivers on the 2024 grid. Despite their unquestionable driving prowess, which remains evident to many, both drivers earn salaries in the region of $3mil for the 2024 season.

Kevin Magnussen

The veteran Danish driver, known fondly as 'K-Mag', also joins our list of lowest-earning drivers. He will earn a salary of around $5mil for the 2024 season.

The 31-year-old has already formed a formidable partnership with Hulkenberg, a collaboration that was evident at the Saudi Arabia Grand Prix.

Top 10 best Indycar drivers in the world at the moment

MotoGP

Highest-paid Formula 1 drivers of 2024

Sports Brief in a previous report touched on the list of highest-earning Formula 1 drivers of the 2024 season.

The list featured Red Bull’s Verstappen and Mercedes' Hamilton, among other drivers on the 2024 grid.