How much do team principals make in F1? All the facts and details

How much do team principals make in F1? All the facts and details

Ciku Njuguna
May 8, 2024 at 7:03 AM

By definition, a team principal is the boss of a Formula 1 team, managing every gameplan of the team, including strategy, driving, engineering, and designing. The F1 ranks as one of the most expensive sports, with drivers earning millions in annual income. How much do team principals make in F1? Dig in and discover how much the top bosses of Formula One earn.

How much do team principals make in F1?
Red Bull Racing's Christian Horner (L), Ferrari's Frederic Vasseur (C) and McLaren's Andrea Stella. Photo by Kym Illman, Photo by Dan Istitene/Formula 1, Mark Thompson.
Source: Getty Images

Table of Сontents:

According to Forbes, the top teams in this racing class are valued at $1.88 billion, with teams such as Mercedes accruing an average of $114.8 million in the 2017 annual wage bill. To determine how much F1 team principals are paid, Sports Brief has conducted in-depth research using publicly available data from Formula One, Forbes and other sources.

How much do team principals make in F1?

This article provides a breakdown of Formula One financials and the income team principals get monthly and annually. Scroll down and learn what it means to be a team principal and the financial gains that come with the role.

What do team principals do in F1?

To understand how much F1 principals make, it is crucial to get a clear picture of their role on a Formula One team. By RedBull's definition, the team driver is the face of the team and an everyday presence during pre and post-race interviews and media sessions.

How much do team principals make in F1?
Bruno Famin (centre), Director of Peugeot Sport, celebrates winning a race during the 2016 Dakar Rally on January 16, 2016, in Rio Cuarto, Argentina. Photo by Dean Mouhtaropoulos.
Source: Getty Images

He or she is also active in approving strategies from race engineers, sporting directors or the head of strategy during a race. Other roles under the principal's preview include staffing, investing, marketing, legal and safety operations. In the words of former Haas team principal Guenther Steiner,

“You know how much I aged in the last six months? Look at my hair. I got completely white.”

How much does a team principal in Formula 1 make annually?

According to ZipRecruiter, the average annual salary for an F1 team principal is $109,393. The top earners in this job category receive a yearly wage ranging from $156,000 to $182,000, with the lowest earning about $36,500.

Newly appointed Haas principal, Ayao Komatsu is the first ever Japanese team principal to lead a non-Japanese racing team. Various sources report that Ayao Komatsu's salary ranges between $812,000 and $1 million. Guenther Steiner, the former Haas F1 team principal salary, was about a million dollars annually.

How much do F1 principals make monthly?

ZipRecruiter estimates that the team chiefs in the United States receive an average of $9,116 monthly or an equivalent of $2,103 weekly. Further details on the principals' earnings remain unknown.

MoneyGram Haas' team principal, Ayao Komatsu.
MoneyGram Haas' team principal, Ayao Komatsu, pictured on the grid during the Saudi Arabia Grand Prix on March 9, 2024, in Jeddah, Saudi Arabia. Photo by Qian Jun/MB Media.
Source: Getty Images

What do the top F1 team principals earn?

The top F1 teams of 2024 include Red Bull Racing, Ferrari, McLaren, Mercedes, Aston Martin RB, Haas, Williams, Alpine and Kick Sauber. Here is an analysis of the most successful team principals in F1, their annual wages, and their net worth records.

1. Toto Wolf - Mercedes AMG PETRONAS F1 Team

Mercedes-AMG Petronas' top boss, Toto Wolf, is regarded as the richest F1 team principal. The racing team has won eight World Championships with 129 pole positions and 96 fastest laps.

Publications such as Sportune report that his annual salary of $44.8 million consists of $8.5 million as a fixed part, a $6.4 million result bonus, and $29.8 million in dividends. GPBlog reports that Toto Wolff's salary is $17 million annually.

As of May 2024, Toto Wolff's net worth was $1.6 billion. This wealth is linked to his role as team chief and CEO of Mercedes AMG PETRONAS, his 33% shareholding in the team, and investments at the Williams F1 team.

Mercedes GP's team principal Toto Wolff
Mercedes GP's team principal Toto Wolff pictured in the garage ahead of the Singapore Grand Prix at Marina Bay Street Circuit on September 16, 2023, in Singapore. Photo by Dan Istitene/Formula 1.
Source: Getty Images

2. Christian Horner - Oracle Red Bull Racing

Oracle Red Bull Racing's team chief, Christian Horner, leads as the number one team that has won six World Championships with 195 points, 100 pole positions, 97 fastest laps, and 117 highest race finishes. In 2005, Horner became the youngest team principal in F1 at 31 years and later the second-richest.

Motorsport estimates his annual salary to be $19 million and a net worth of about $50 million. Other sources suggest that Christian Horner's annual salary of $23.4 million includes a $10.6 million results bonus.

3. Frédéric Vasseur - Ferrari

Frédéric Vasseur's team, Ferrari, is second with 151 points. The racing team has won a record 16 World Championships, with 249 pole positions, 261 fastest laps, and 245 highest race finishes.

How much does Ferrari's team principal make? According to Sportune, the Frenchman receives an annual pay of about $8.5 million.

Frédéric Vasseur of Ferrari
Frédéric Vasseur of Ferrari is one of the best F1 team principals. Photo by ANP/Sem van der Wal.
Source: Getty Images

4. Andrea Stella - McLaren

According to the official F1 ranking of 2024, McLaren is third with 96 points. McLaren has won 8 World Championships, with 165 fastest laps, 157 pole positions, and 183 highest race finishes.

While some sources suggest that its team chief, Andrea Stella, earns $1.49 million, others report that the accurate figure lies between $6.4 million and $8.5 million. Andrea Stella's net worth is estimated to be between $1 million and $5 million.

5. Bruno Famin - BWT Alpine

Alpines' new principal, Bruno Famin, took the reins of the number nine team, which has won two World Championships, with 20 pole positions, fifteen fastest laps, and 21 highest race finishes. Sportune and the Sun report that his annual salary at Alpine was $2.1 million, and his estimated net worth ranges between $626,232 and $627,290.

How much do team principals make in F1?
BWT Alpine's team principal, Bruno Famin, pictured on the grid ahead of the China Grand Prix at Shanghai International Circuit on April 20, 2024, in Shanghai, China. Photo by Qian Jun/MB Media.
Source: Getty Images

Final word

How much do team principals make in F1? Available records of principals' income and responsibilities reveal their importance on international racing teams.

READ ALSO: How much do Formula 2 drivers make on average? All the facts and details

Sports Brief has published an article on Formula 2 drivers and their earnings. As one of the most expensive sports, international race car drivers, such as Formula One drivers, are known to earn hefty salaries with cushy bonuses and prize rewards. Click on the link above to learn more.

Ciku Njuguna photo
Ciku Njuguna
Ciku Njuguna is a journalist with 3 year’s experience in content creation based in Kenya. She currently covers sports personnel as well as team biographies.