Lewis Hamilton's $300 Million Net Worth: Formula 1 Champion's Career & Achievements

Lewis Hamilton's $300 Million Net Worth: Formula 1 Champion's Career & Achievements.

What is Lewis Hamilton's Net Worth?

Lewis Hamilton is a British F1 driver with a net worth of $300 million. He kicked off his Formula One journey with McLaren and snagged his first championship in 2008, making history as the youngest World Champion at that time. In 2013, he made the switch to Mercedes, where he clinched six more titles (2014, 2015, 2017, 2018, 2019, 2020). Recently, on February 1, 2024, it was announced that Lewis will be moving to Ferrari after the 2024 season wraps up.

Salary & Contracts

Lewis is among the top earners in F1 and ranks as one of the highest-paid athletes globally. Typically, he rakes in between $70 million and $90 million a year, with a big chunk of that coming from his Mercedes deal, which is worth $60 million annually.

In July 2023, Lewis inked a two-year deal with Mercedes, guaranteeing him $60 million per year for the 2024 and 2025 seasons. However, he decided to part ways with Mercedes after just one season and will be joining Ferrari for the 2025 season instead. Reports suggest he could earn up to $107 million a year with Ferrari.

From June 2016 to June 2017, Lewis Hamilton made about $50 million through endorsements and prize money. The following year, he earned $51 million, and in the next 12 months, his earnings climbed to $55 million.

Early Life

Lewis Carl Davidson Hamilton was born on January 7, 1985, in Stevenage, Hertfordshire, England. His mom, Carmen, is white, while his dad, Anthony, is black. Hamilton identifies as black. His parents split when he was just two years old, and he lived with his mom and half-sisters until he turned 12. After that, he moved in with his dad, stepmom, and half-brother Nicolas. At the age of five, Hamilton started practicing karate for self-defense due to being bullied at school.

When he was six, his dad gifted him a radio-controlled car, and the next year, he snagged second place at the British Radio Car Association championship. That same Christmas, he got a go-kart from his dad. Anthony Hamilton promised to back his son's racing dreams as long as he kept up with his schoolwork. Lewis went to The John Henry Newman School, a Catholic secondary school in Hertfordshire, and also played football there. In early 2001, he began studying at Cambridge Arts and Sciences.

Career

Lewis Hamilton's journey started with a bold move when he approached Ron Dennis, the head of McLaren, and declared, "I want to race for you one day… I want to race for McLaren one day." That’s pretty gutsy for any young driver, especially when you consider he was just ten years old at the time.

In 1998, Hamilton joined the McLaren Young Driver program, and by 2007, he officially became a Formula One driver for McLaren. He made history as the first and only black driver in the sport. In his debut season, he finished as the runner-up to Kimi Räikkönen. The following year, in 2008, Hamilton clinched his first F1 World Championship, sealing the deal in the final race of the season.

He switched to Mercedes in 2013 and went on to win back-to-back titles in 2014 and 2015. He repeated this feat in 2017 and 2018, and again in 2019. As of now, he has seven World Championships, tying him with Michael Schumacher for the most in F1 history.

In 2018, Hamilton kicked off his clothing line, TOMMYXLEWIS, at New York Fashion Week, teaming up with American designer Tommy Hilfiger and models Winnie Harlow and Hailey Baldwin.

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Throughout his career, Lewis Hamilton has stirred up some drama both on and off the track. He’s always in the limelight, and people tend to analyze his every word.

While racing in Spain, he faced racial abuse from a few Spanish fans, largely fueled by his intense rivalry with Spanish driver Fernando Alonso. Hamilton acknowledges his competitive nature, which can sometimes create friction with other racers.

Just a week before the 2018 German Grand Prix, Hamilton inked a two-year contract extension with Mercedes, reportedly worth close to $50 million annually.

In June 2020, Hamilton announced he would be driving a brand new all-black Mercedes to show support for Black Lives Matter. He has been outspoken about the lack of diversity in Formula One. The car, dubbed the Black Arrow, was designed by Hamilton himself and made its first appearance in Austria during the 4th of July weekend as the delayed F1 season finally kicked off.

By 2022, there were major shifts in technical regulations, leading to new car designs, and Hamilton faced a tough season. He managed to snag nine podium finishes but didn’t win a race or secure a pole position for the first time in his F1 career.

Personal Life

In November 2007, Lewis Hamilton began a relationship with Nicole Scherzinger, the lead singer of the Pussycat Dolls. They decided to part ways in early 2010 to concentrate on their careers, but they were seen together at the Turkish and Canadian Grands Prix that same year. The couple had an on-and-off relationship from 2011 to 2015 before finally breaking up for good in February 2015.

After his breakup with Scherzinger, there were rumors that he dated his long-time friend Rihanna for a bit. He was also linked to Rita Ora, Miss Finland Lotta Hinsa, Miss Grenada 2007 Vivian Burkhardt, model Winnie Harlow, Hungarian model Barbara Palvin, and Sofia Richie. Additionally, he had a romantic getaway in Dubai with Nicki Minaj.

Lewis follows a vegan lifestyle.

Some MPs have criticized Hamilton for living abroad to avoid paying taxes in the U.K.

Interestingly, he was named after Olympic sprint legend Carl Lewis.

A big Arsenal fan, Hamilton mentioned that if he hadn’t pursued a career in Formula One, he might have become a footballer or cricketer, as he played both sports in high school.

In 2022, Lewis shared that he was in the process of legally changing his name to add his mother's maiden name, Larbalestier, as a middle name.

In June 2022, Hamilton was honored as an honorary citizen of Brazil after a proposal by politician Andre Figueiredo got the green light in the Brazilian Chamber of Deputies.

Then in September 2022, Hamilton kicked off Team X44 to take part in the all-electric SUV off-road racing series, Extreme E. Team X44 snagged second place in the first-ever Extreme E championship and, in January 2022, they were awarded the Extreme E Sustainability Award. They went on to win the 2022 Championship, outpacing RXR, who ended up disqualified from the race.

Additionally, in 2022, Hamilton became part of the new ownership group for the Denver Broncos.

Real Estate

In 2019, Hamilton put his New York penthouse on the market for a whopping $57 million. This place is in the same Tribeca building where celebs like Justin Timberlake, Jessica Biel, Meg Ryan, Jake Gyllenhaal, and Bella Hadid reside. Spanning 8,900 square feet, it’s the biggest penthouse loft in the building.

He snagged it for $43.9 million back in 2017. By December 2021, he sold it for $50 million, but interestingly, he never actually lived there. Maybe that’s because he also has another penthouse just a stone's throw away at 70 Vestry Street, which he bought in 2019 for $40.7 million.

On top of that, Hamilton owns a stunning four-story mansion in Kensington, West London, featuring six bedrooms and dating back to 1860, valued at $25 million.

He also has apartments in Nyon, a suburb of Geneva, Switzerland, and in Monaco, plus a property in Colorado where he plans to settle down after retiring.

Personal Car Collection

Lewis Hamilton's car collection is estimated to be worth at least $40 million, thanks to the cars he's shared on social media or confirmed as part of his official lineup. Just his 1995 McLaren F1 is valued at about $20 million. Here are some of the standout cars in his impressive collection:

1995 McLaren F1 – $20 million

Ferrari LaFerrari Aperta $4.1 million

Ferrari LaFerrari – $4 million

Mercedes-AMG One – $2.7 million

McLaren P1 – $1.8 million

1967 Ford Mustang Shelby GT500 – $1.4 million

Mercedes-AMG SLS Black – $270,000

AC 1966 Shelby Cobra 427 – $100,000

Total for just these eight cars: $34.4 million

Lewis Hamilton’s journey from a young karting enthusiast to one of the most successful and wealthiest athletes in the world is truly inspiring. With a net worth of $300 million, he has not only dominated the world of Formula 1 with seven World Championships but has also made significant strides in fashion, activism, and business ventures.

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His commitment to excellence both on and off the track has earned him a global fan base and numerous accolades. As he continues to push boundaries, Hamilton’s legacy as a pioneering figure in motorsport is sure to endure for years to come.