We're in an era now where it's considered more than a little bit on-the-nose for F1 drivers to really flaunt their wealth a-la-James Hunt.

The men who take the grid are, largely, consummate professionals. They dedicate their lives to what’s going on on the track with a ruthless focus and, aside from their video game streaming rigs and luxury watches, a general disregard for the mega-yachts and champagne that once defined the playboy lifestyle of the F1 driver of old.

Lewis Hamilton is by far the most extra driver on the grid, but even though he might pop up at a fashion event every now and then, he’s not exactly a bad boy, and even though he’s still driving, the era of Kimi Raikkonen walking straight on to a yacht directly from retiring from the Monaco GP feels like an age ago.

Even though they don’t flaunt it, however, that doesn’t mean that the highest paid F1 drivers aren’t earning serious money. In fact, they’re some of the highest-paid athletes in the world, earning not only bumper salaries from their respective teams, but in the case of uber-successful drivers like Hamilton and Max Verstappen, and more marketable drivers like, Daniel Ricciardo, taking home some of the most lucrative endorsement deals in world sport. Not that this is likely to last—talk of introducing a salary cap into the sport has been rife for years now.

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Sport contract experts Spotrac has revealed the details on just who’s set to make the most bank over the course of the 2024 F1 championship year, and is anyone surprised that Max Verstappen is the top of the top? This is on pure salary, too, not to mention the plethora of bonuses the Dutch driver is raking in. Verstappen is basically one with his machine, storming into this next season on top in more ways than one.

Few people in world sport back up their pop culture appeal with the level of success and adulation that Hamilton routinely accomplishes, and even with this season his last with Mercedes before joining Ferrari, don’t think the move will dampen his earnings too much. 

Apart from Hamilton, the pantheon of F1’s highest earners is rapidly changing shape. Seasoned veterans like Fernando Alonso are still enjoying big salaries, even in the later years of their careers. Then there are younger talents like Aussie Oscar Piastri, who are rising up the ranks, pulling in a tidy six-figure salary before turning 23.

Check out the full list of F1’s 2024 driver salaries below. All amounts are approximate conversions to Australian Dollars, and correct as of March 5, 2024. 

T-20. Yuki Tsunoda, Visa CashApp RB

$1 million (AUD$1.54 million)

Japanese driver Yuki Tsunoda is currently plying his trade in the the RB Formula One Team alongside Daniel Ricciardo. While he doesn’t earn as much as his Aussie compatriot, he’s doing pretty well for a 23-year still relatively fresh in the sport. 

T-20. Logan Sargeant, Williams

$1 million (AUD$1.54 million)

The Floridian driving for Mercedes has enjoyed a decent come-up since his Formula 2 days. Sergeant has a rich motorsports family pedigree, his brother Dalton is a former NASCAR driver.

T-17. Nico Hülkenberg, Haas

$2 million (AUD$3.07 million)

German racing driver Nico Hülkenberg is a veteran of the pit. Driving with Haas now, Hülkenberg will notch up 15 years on the grid should he take to the track again next year.

T-17. Guanyu Zhou, Kick Sauber

$2 million (AUD$3.07 million)

Zhou is the first, and currently the only Chinese driver to compete in Formula 1. Currently driving with Bottas for Kick Sauber, Zhou has just one year left on his contract.

T-15. Lance Stroll, Aston Martin

$3 million (AUD$4.61 million)

Stroll was unveiled by Williams as a driver as a fresh-faced 18-year old—not yet old enough to even get his road licence. Now driving with Aston Martin, the Canadian driver has three podiums to his name in his career, and is hungry for more.

T-15. Alexander Albon, Williams

$3 million (AUD$4.61 million)

Albon may have been born in London, but he races proudly under the Thailand flag. He joined Max Verstappen in his rookie season in the F1 where he learned the importance of a championship mentality. Now on his second proper go in a race seat in the F1, with a tidy salary to match, Albon is hoping to add more podiums to his tally.

14. Kevin Magnussen, Haas

$5 million (AUD$7.68 million)

Danish driver Kevin Magnussen followed his father’s footsteps onto the grid. He went one better than his old man, becoming the first Dane to ever get a podium in F1. Now with Haas, Magnussen is bringing a brash approach to racing, to the surprise of the rest of the grid.

T-11. Esteban Ocon, Alpine

$6 million (AUD$7.68 million)

Frenchman Esteban Ocon took the long road to F1, but it’s well and truly paying off these days. He’s notched up a career win already, taking out the 2021 Hungarian Grand Prix, and alongside fellow Frenchman Pierre Gasly, the two are looking good on the track.

T-11. Pierre Gasly, Alpine

$6 million (AUD$7.68 million)

Sharing the same salary as his Alpine teammate Esteban Ocon, Pierre Gasly also has a solo first place finish to his name. Gasly took out the top spot in 2020 at the Italian Grand Prix.

T-11. Oscar Piastri, McLaren

$6 million (AUD$7.68 million)

Just out of the top 10 is Aussie gun Oscar Piastri. In 2023, the 22-year old was the youngest on the grid, finishing a very respectable ninth overall for the season. Alongside fellow youngster Lando Norris, the two are forming quite the partnership at Mclaren.

10. Daniel Ricciardo, Visa CashApp RB

$7 million (AUD$10.76 million)

Rounding out the top 10 is the loveable Daniel Ricciardo. When the availability of a seat for Ricciardo on the grid ended last year, he sprung into action as the senior driver at Visa CashApp RB. Still earning money, still with a trademark grin, things are looking good for Ricciardo right now.

9. Valtteri Bottas, Kick Sauber

$10 million (AUD$15.37 million)

Finnish driver Valtteri Bottas earned a soft spot in the hearts of Australians thanks to his mullet and wild attitude. He joins a long history of wild, and fearless Finns on the track, racking up an impressive 10 wins across his long F1 career.

8. Carlos Sainz Jr, Ferrari

$12 million (AUD$18.44 million)

The Ferrari driver’s future might be in doubt with the impending arrival of Lewis Hamilton, but for now Sainz remains one of the sport’s top earners. He’s raced alongside some of the best in the business, and his tenacity has taken him to the top spot more than once. He’s more than living up to his family and Ferrari’s racing pedigree.

7. Sergio Pérez, Red Bull Racing

$14 million (AUD$21.52 million)

The smooth operator from Mexico, Perez can turn on the heat when he needs to on the track. Alongside Verstappen at Red Bull Racing, Perez has created a name for himself in his own right.

T-5. Fernando Alonso, Aston Martin

$18 million (AUD$27.67 million)

A veteran in every sense of the word, Alonso is now racing alongside drivers who have called him their idol in their youth. Alonso used to top this list, and is the last person without the surname Hamilton or Verstappen to be the highest-paid driver. Now racing for Aston Martin, Alonso combines a healthy salary with strong bonuses off-grid too.

T-5. George Russell, Mercedes

$18 million (AUD$27.67 million)

Coming off the back of his massive 2022 debut was never going to be easy for George Russell. But nevertheless, the British driver has done pretty well. In 2023, he signed a contract to stay on with Mercedes, and with the impending departure of Hamilton from the team, this number could rise if he can walk the walk.

4. Lando Norris, McLaren

$20 million (AUD$30.74 million)

Lando Norris is doing very well for himself at McLaren. The young driver has pulled in an impressive salary with a slew of hard-fought podiums. While the number one spot still eludes him, he’s only getting better.

3. Charles Leclerc, Ferrari

$34 million (AUD$52.26 million)

The Monégasque driver Charles Leclerc has only five race wins to his name, but with 30 podiums, it really feels like it should be a lot more. The high-earning racer earned the first grand slam of his career at the Australian Grand Prix in 2022, where he qualified on pole, set the fastest lap, won, and led every lap of the race. Not bad.

2. Lewis Hamilton, Mercedes

$45 million (AUD$69.17 million)

Hamilton was basically peerless in the top spot for much of his career. The iconic British racer is one of the most well-known names in all of sports. It’s been up and up for all of Hamilton’s career, now with the joint-most Drivers’ Championship titles alongside Michal Schumacher with seven. Can he go one further this year with Mercedes? Or next year with Ferrari? Whether you’re watching the paddock for his fits, or the grid for his performance, it’s a win either way.

1. Max Verstappen, Red Bull Racing

$55 million (AUD$84.55 million)

Topping the list for a second year running, is the three time champion Max Verstappen. The flying Dutchman has been close to unstoppable in recent years, and is showing no sign of loosening his grip on the trophy. A colossal salary for a big time driver, don’t expect Verstappen to give up this position on the earnings list either.

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