Max Verstappen and Lando Norris have emerged as major earners in Formula 1, with their performance-related bonuses setting them apart in Forbes’ 2024 list of top-paid F1 drivers. Verstappen, who secured his third consecutive championship in 2023, reportedly earned a massive $70 million in total, including a $45 million base salary and $25 million in bonuses thanks to his record-breaking season. His dominance with Red Bull has solidified his status as the highest earner in F1.
Lando Norris, meanwhile, continues to rise as a key asset for McLaren. The British driver earned a $20 million base salary, reflecting his growing influence and the team’s commitment to keeping him long-term. Norris’ performance in 2024, which saw him challenge Verstappen on several occasions, likely contributed significantly to his additional earnings through bonuses【9】【10】.
Notably, driver salaries in F1 are excluded from the sport’s strict budget cap, allowing top teams to reward their star drivers generously. Other high earners include Lewis Hamilton with a $55 million salary at Mercedes and Fernando Alonso, whose Aston Martin contract included $10 million in performance-related bonuses.
These staggering figures underscore the importance of both on-track performance and team strategy in maximizing driver compensation in F1. While Verstappen leads the financial race, drivers like Norris highlight the emergence of a new generation of top earners.
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