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Deals & Investments November 30, 2023
Vinciane Ngomsi
Vinciane Ngomsi

Max Verstappen Tops 2023 Highest-Paid F1 Drivers List

First place winner Max Verstappen of the Netherlands driving the Oracle Red Bull Racing RB19 celebrates on podium during the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit in Abu Dhabi, United Arab Emirates on November 26, 2023. (Photo by Mohammed Zarandah/Anadolu via Getty Images)
With all the familiar names at the top, Boardroom outlines the highest-paid F1 drivers in 2023, from Verstappen to Piastri.

The 2023 Formula 1 season has officially wrapped and for the third straight year, Max Verstappen reigns supreme as the league’s champion. The 26-year-old won 19 of 22 races and earned 575 points, both single-season records.

With unprecedented success comes a massive payday, and the Dutch racer tops another significant list. Forbes released its highest-paid Formula 1 drivers of this year list on Wednesday, and Verstappen comes in at No. 1 with an estimated $70 million in salary and bonuses in 2023.

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Last year, Red Bull Racing and Verstappen agreed to a five-year extension, keeping him with the team until 2028. Under the new terms, Verstappen will reportedly pocket $55 million a year, which matches Mercedes driver Lewis Hamilton‘s pay. Speaking of Hamilton, the seven-time world champion comes in second on the list, earning $55 million in salary alone. Hamilton and Mercedes renewed their partnership in August through 2025.

In total, the 10 highest-paid F1 drivers earned an estimated $258 million in 2023 before taxes, which Forbes says is a minor drop from 2022’s $264 million collected.

2023 Highest-Paid F1 Drivers

NameTeamSalaryBonusTotal
Max VerstappenRed Bull$45 million$25 million$70 million
Lewis HamiltonMercedes$55 million$0$55 million
Fernando AlonsoAston Martin$24 million$10 million$34 million
Sergio PérezRed Bull$10 million$16 million$26 million
Charles LeclercFerrari$14 million$5 million$19 million
Lando NorrisMcLaren$5 million$10 million$15 million
Carlos SainzFerrari$8 million$6 million$14 million
George RussellMercedes$4 million$5 million$9 million
Pierre Gasly (tie-9th)Alpine$5 million$3 million$8 million
Oscar Piastri (tie-9th)McLaren$3 million$5 million$8 million

More F1:

Vinciane Ngomsi

Vinciane Ngomsi is a Staff Writer at Boardroom. She began her career in sports journalism with bylines at SB Nation, USA Today, and most recently Yahoo. She received a bachelor's degree in Political Science from Truman State University, and when she's not watching old clips of Serena Williams' best matches, she is likely perfecting her signature chocolate chip cookie recipe or preparing a traditional Cameroonian meal.