SUMMARY
- Lewis Hamilton is entering his final year at Mercedes in 2024 as he prepares for a move to Ferrari.
- Hamilton is no longer the highest-paid athlete in Formula 1.
The 2024 Formula One season will end what has been a sensational partnership between Lewis Hamilton and Mercedes. The two parties, together, have dominated the sport against some of the most distinguished teams including Ferrari and Red Bull. Of course, who could ever forget the moment Hamilton singlehandedly winded up Sebastian Vettel’s dream run with Red Bull and brought about a refreshing new era to F1?
And now, Fast-forward to 2024, the Briton has secured a whopping six drivers’ championship titles while his long-term outfit, Mercedes, is the owner of eight constructors’ championship titles, thanks to meaningful contributions from Valtteri Bottas and Nico Rosberg. Unfortunately though, all dream runs, no matter how successful are bound to end at some point.
Similarly, Hamilton and Mercedes will part ways following the 2024 F1 campaign, as the seven-time world champion embarks on a new challenge with Scuderia Ferrari in 2025. And this leaves us wondering, how much will Hamilton earn over his final year at the Brackley outfit?
How much will Lewis Hamilton earn in 2024?
According to RacingNews365 and several other sources, Hamilton’s last dance at Mercedes will be worth $45 million. Yes! Hamilton will earn $45 million which reportedly covers his base salary. On top of that, there are likely to be bonuses based on the Briton’s performance this year.
Until 2021, Hamilton was indeed the highest-paid athlete in Formula 1 with a salary of $55 million and bonuses and add-ons worth $7 million. However, Hamilton’s defeat to Max Verstappen and the budget cap implementation eventually forced Toto Wolff and Co. to enforce a pay cut to his salary.
Subsequently, Hamilton took a tumble down the order and became the second highest-paid athlete after Max Verstappen. And yet again, Hamilton has held on to the very second place in 2024 while Verstappen leads the chart with a massive $55 million salary at Red Bull Racing.
2024: Top 10 highest-paid drivers in F1
As mentioned earlier, the reigning world champion Verstappen is the highest-paid driver as of 2024 followed by his arch-rival Hamilton. Behind the two dominant drivers is the leading Ferrari driver, Charles Leclerc with a base salary of $34 million. Then arrives Lando Norris with a reasonably high $20 million followed by his compatriot and Mercedes’ soon-to-be lead driver, George Russell.
The Briton is currently earning $18 million but is likely to embrace a pay raise by the end of this year, especially with the forthcoming inclination in the hierarchy. In P6, we have the oldest driver on the grid, Fernando Alonso, who is looking stronger than ever. And it is no surprise that Aston Martin are happy to pay the Spaniard $18 million a year.
In the final four, there’s Sergio Perez ($14 million), Carlos Sainz ($12 million), Valtteri Bottas ($10 million) and Daniel Ricciardo ($8 million).