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In sports, F1 drivers happen to be some of the highest paid athletes in the world and with salaries that keep changing depending on performance or change in teams. Some drivers appear among the top paid athletes in overall sports, with Lewis Hamilton at the top and currently Max Verstappen who often appear regularly among the top earners. Their salaries are mostly divided into basic salaries and at times bonuses depending on their performance, such as how they finish their races, championship position, race wins and many more which vary.
This year, Max Verstappen was listed as the highest paid F1 driver. This came as no surprise as he has given consistent performance for Red Bull over the years. He was reported as the highest paid driver, combining his basic salary of $45 million and a bonus of $25 million for record breaking in the previous season.
Second listed is Lewis Hamilton. Despite the fact that his basic salary is no match to Max Verstappen, in the previous season, he did not receive that much of a bonus hence ranking him second. His status and experience in formula 1 is what still puts him as one of the highest earners, earning a basic salary of $55 million while still in team Mercedes. However, the renown driver announced moving to team Ferrari, where he is expected to earn same amount in 2025.
Third on the rank is Fernando Alonso. His move to Aston Martin has made him successful. His $24 million basic salary was boosted by a $10 million bonus hence ranking him third, after a successful year with the team. However, he has been a high earner throughout his career due to his two-time world championship winnings.
Fourth is Sergio Perez, as the Red bull driver earns a basic salary of $26 million. This is basically due to his consistent performance and it has made him secure his spot among top earners.
Fifth in rank is the upcoming, young, ambitions driver representing team Ferrari; Charles Le clerc who earns a basic salary of $19 million. This is mainly due to his talent and potential which makes him a valuable asset hence expected to earn more as time goes.
Each driver is paid by their team hence paid a salary fit for their performance. Also, their salaries vary as the less experienced drivers tend to have a low salary but as they continue to prove themselves in the track, their salaries improve.
Ig @mannu mwendwa.
