Formula One drivers are bona fide global stars, widely recognised not just in the motorsports community but also among the growing number of racing enthusiasts worldwide.
In addition to representing major brands on their F1 racing cars, these drivers often serve as the face of global brands, forging lucrative endorsement deals that significantly boost their already-substantial earnings. Through partnerships with high-profile companies ranging from luxury goods to technology, F1 drivers enjoy a level of fame and financial success that extends beyond the race track.
SportsPro recently released a list of top 150 most marketable athletes in 2024, the top 50 of which featured some global F1 stars. The criteria for the list had three major factors taken into consideration:
- brand strength,
- total addressable market (TAM), and
- economics in play.
So let’s take a look at the most marketable Formula One drivers in 2024.
8. Oliver Bearman (Scuderia Ferrari | MoneyGram Haas F1 Team)
The 19-year-old British racing driver is currently a reserve driver for the Scuderia Ferrari and Haas teams. He made his F1 debut earlier this year at the Saudi Arabia Grand Prix, sitting in for Ferrari’s Carlos Sainz Jr.
Bearman finished an impressive seventh place, thus becoming the youngest driver to score F1 points on debut. He has since raced in F1 for two more times and has signed a multi-year agreement with Haas to drive for them next year onward.
At Haas, Bearman is set to earn between £250,000 and £300,000 annually. However, this falls on the lower end of the wage spectrum for F1 salaries, though Bearman has also added brand endorsement deals to boost his earnings by signing with Catalyst, FunderPro, Aventum, and Modex.
7. George Russell (Mercedes-AMG Petronas F1 Team)
The 26-year-old British driver currently races for the Mercedes-AMG Petronas team with the legendary Lewis Hamilton. Russell has two Grand Prix wins, three pole positions, eight fastest laps, and 14 podium finishes to his name in Formula 1 so far.
Russell earns US$18 million in yearly salary from Mercedes. Apart from the salary and sponsorship earnings associated with his constructor, he also has personal brand endorsement deals with Bell Helmets, BMDC, Alpinestars, UBS, Tommy Hilfiger, and IWC Schaffhausen, having also collaborated with Belstaff and PUMA in the past two years.
6. Carlos Sainz Jr. (Scuderia Ferrari)
Ferrari’s Spanish driver has seen success in the last few seasons. Additionally, being a Formula 1 racer with Ferrari does provide the right kind of platform to become popular, and duly brands are queuing up for collaboration with Sainz.
The 30-year-old has has four Grand Prix wins, six pole positions, four fastest laps, and 25 podium finishes in his career to date. His contract with Ferrari ends this season and he’s set to Williams Racing next year.
Sainz receives a yearly salary of US$12 million from Ferrari. Additionally, he has a brand portfolio that boasts Santander, Estrella Galicia, and Ray-Ban Meta. Sainz has also collaborated with Schuberth, PlayStation, and Shiseido Men in recent years. Earlier this year, he also partnered with OTK Kart Group, an Italian racing karting company, to help with its launch.
5. Oscar Piastri (McLaren Formula 1 Team)
The Australian racer drives for the Mclaren F1 team. The talented young driver debuted at the Bahrain Grand Prix last year and since then has achieved two Grand Prix wins, three fastest laps, and nine podium finishes. In his debut season, Piastri almost broke Lewis Hamilton’s record of maximum points scored by a rookie. His consistent performances have not only earned him an improved salary package but also several brand endorsement deals.
The 23-year-old currently earns an yearly salary of US$6 million from McLaren. Additionally, he has endorsement deals in place with the likes of Quadlock, Dubber, and HP Tuners. He also owns an official online store in his name, which offers apparel, accessories, and miniature racing helmets.
Also read: Top 10 most marketable footballers in 2024
4. Lando Norris (McLaren Formula 1 Team)
With six seasons’ worth of F1 experience under his belt, Norris is a well-known name in the F1 community. The British racer has to his name has three Grand Prix wins, eight pole positions, ten fastest laps, and 25 podium finishes.
From McLaren, the 25-year-old receives a yearly salary of US$25 million plus bonuses. He also has in place endorsement deals with the likes of Ralph Lauren Fragrances, TUMI, Richard Mille, Bell Helmets, ADD Management, wearegrip, Pure Electric, and PAP. He has also appeared in ads for Hilton Hotels and PlayStation.
In 2020, Norris founded an esports organisation called “Quadrant”, which generates revenues from partnerships and merchandise. A year later, he founded a racing kart company called “LN Racing” to enable up-and-coming drivers to hone their skills.
3. Charles Leclerc (Scuderia Ferrari)
Leclerc made his Formula 1 debut in 2018 with the Sauber F1 team (now called Alfa Romeo) before moving to the iconic Scuderia Ferrari in 2019. Since then, the Monégasque has gone on to impress with his stellar performances and currently sits on eight Grand Prix wins, 24 pole positions, and 41 podium finishes. He came second in the World Championship standings in 2022, losing to Max Verstappen.
Leclerc’s performances with Ferrari have seen his stocks rising and brands fighting each other for his signature. He currently earns a yearly salary of US$34 million from Ferrari. His brand endorsements include an expansive portfolio boasting Puma, Bang & Olufsen, Giorgio Armani, Ray-Ban, Celsius, Peroni Nastro Azzurro, Vistajet, Richard Mille, and EA Sports.
Leclerc also started his own low-calorie ice cream brand called “LEC” in April 2024.
2. Max Verstappen (Oracle Red Bull Racing)
The new face of Formula 1 royalty, Max Verstappen is the racer to beat right now. Along with teammate Sergio Pérez, the Dutchman has been vital to Red Bull’s success in Formula 1 for the last three years.
A three-time champion in consecutive years, Verstappen is leading the race yet again in 2024. Known for his aggressive temperament and driving, the 27-year-old is always one to watch on any circuit.
His recent successes have inevitably handed Verstappen a big salary and a big pool of brands to pull deals from. He currently earns a whopping US$55 million—excluding bonuses—from Red Bull Racing. He took home US$70 million in total earnings last year—ahead of Lewis Hamilton, who earned US$55 million.
Verstappen’s brand endorsement portfolio includes Red Bull, Via Play, EA Sports, and Heineken. He has also collaborated with Ziggo, Jumbo, G-Star RAW, and CarNext.com in recent years.
1. Lewis Hamilton (Mercedes-AMG Petronas F1 Team)
One of the most popular and successful Formula 1 racers of all time, Lewis Hamilton holds the record for most F1 wins (105 at the time of writing).
Hamilton has had great success with Mercedes, with whom this is his last season as he’s switching to Ferrari from 2025 onward. Along with his 105 Grand Prix wins, the 39-year-old also 104 pole positions, 67 fastest laps, and 201 podium finishes.
Hamilton’s current salary from Mercedes is a yearly US$45 million. His brand endorsement portfolio boasts Dior, CFI, Tommy Hilfiger, Monster Energy, Puma, IWC, Sony, Bell Helmets, MV Agusta Motorcycles, Petronas, Police, Vodafone, and Rimowa.
Hamilton has also boosted net worth with several smart investments, which include a meat-free burger chain (Neat Burger), an American fashion magazine (W), a food tech company in Chile (NotCo), a vertical farming and digital agriculture company (Bowery Farming), and a vegan pet food company (Bramble). The veteran Brit is also part of the ownership group of the National Football League’s Denver Broncos and owns an X44 team in the SUV off-road racing series Extreme E. A non-alcoholic distilled Blue Agave spirit company called Almave completes his diverse investment portfolio.
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