After 12 races into the 2023 season, the 2023 Formula 1 championship trophy might very well have Max Verstappen’s name written on it. The Dutchman is currently 125 points ahead of teammate Perez, with former rival Lewis Hamilton all the way down in P4.
However, while his dominance has been noticeable since it was hinted back in 2021 and put on display in 2022, what is less known is the financial effects of such dominance. A statistic that may come as a surprise for many, is that by winning the last two championships, Max has cost Lewis $38 million!
Verstappen’s dominance costs Hamilton $38 million
Here’s the brief answer to how Max has affected Hamilton’s earnings: Incentives! Under Lewis Hamilton’s current contract with Mercedes, the driver is owed a £15 million bonus for every championship he wins for the team.
Now in 2023, the clause promises the 7-time world champion £45 million per championship! Therefore, Max’s dominance is costing Lewis a significant inflow of money, by cutting off the annual £15 million revenue that used to flow comparatively easier into Lewis’ net worth.
In the meantime, Max is pulling in the same money, raking in £12 million for 2021, and while the number for later years is not known, it is expected to be higher, given his consistency in winning. Interestingly enough, Lewis’ overall finances trump Max’s despite this change!
Who is richer between Lewis Hamilton and Max Verstappen?
Formula 1 serves as one of the world’s best-paying sports, with Max Verstappen and Lewis Hamilton as regular inclusions in Forbes’ list of highest-paid athletes. But despite Lewis taking a serious cut in pay in terms of incentives over the last few years, the 7-time champion’s net worth still stands at $343 million vis à vis Max’s $91 million!
This disparity, however, is easily explained by the multiple sources of revenue Lewis possesses. The Mercedes superstar has a foot in both the fashion and music industries! Not only does he have a song with pop star Christina Aguilera, but he also has a clothing line with Tommy Hilfiger!
Moreover, his prolonged inflow of revenue has contributed to his net worth. Following an 8-year dominance with Mercedes, Lewis has raked in millions through this time, contributing to his net worth.
Max is a relative newcomer to the sport and he could see a major spike if he manages to maintain his current level of dominance. However, proper financial management, contract negotiations, and overall charisma could play a significant part in this sector.
Do you think Lewis will be able to get his revenge on Max by beating him out in the 2024 championship incentive? Comment what you think down below!
