Formula 1 drivers are among the highest-paid athletes in world sport, with the biggest names earning tens of millions of dollars annually. However, salaries vary significantly across the grid, depending on a driver’s experience, championship achievements, popularity, contract negotiations and the financial strength of their team.
In the 2026 Formula 1 season, reported annual base salaries range from approximately $500,000 for some younger drivers to around $70 million for the sport’s highest-paid competitor, Max Verstappen.
While established champions such as Lewis Hamilton and Verstappen command enormous contracts, younger drivers entering the sport often begin with comparatively modest salaries. Their earnings can increase substantially as they gain experience, secure podium finishes and establish themselves as leading competitors.
So, how much do F1 drivers actually make, who earns the most, and what determines their salaries? Here is a breakdown of Formula 1 driver earnings in 2026.
How much do F1 drivers make in 2026?
F1 drivers do not receive equal salaries. The most successful and commercially valuable competitors generally negotiate the biggest contracts, while newcomers and drivers at smaller teams usually earn less.
According to reported salary estimates compiled by RacingNews365, the highest-paid driver in 2026 is Verstappen, who earns approximately $70 million annually from Red Bull Racing. Hamilton follows with an estimated $60 million at Ferrari.
Most of the remaining drivers earn between $1 million and $34 million in annual base salary, although additional bonuses and sponsorship agreements can increase their overall income.
The following figures are estimates and are not officially confirmed by every team.
Estimated F1 driver salaries in 2026
| Driver | Team | Estimated annual base salary |
|---|---|---|
| Max Verstappen | Red Bull | $70 million |
| Lewis Hamilton | Ferrari | $60 million |
| Charles Leclerc | Ferrari | $34 million |
| George Russell | Mercedes | $34 million |
| Lando Norris | McLaren | $30 million |
| Fernando Alonso | Aston Martin | $20 million |
| Carlos Sainz | Williams | $13 million |
| Oscar Piastri | McLaren | $13 million |
| Alex Albon | Williams | $12 million |
| Pierre Gasly | Alpine | $12 million |
| Lance Stroll | Aston Martin | $12 million |
| Sergio Pérez | Cadillac | $8 million |
| Esteban Ocon | Haas | $7 million |
| Nico Hülkenberg | Audi | $7 million |
| Isack Hadjar | Red Bull | $5 million |
| Valtteri Bottas | Cadillac | $5 million |
| Gabriel Bortoleto | Audi | $2 million |
| Kimi Antonelli | Mercedes | $2 million |
| Oliver Bearman | Haas | $1 million |
| Liam Lawson | Racing Bulls | $1 million |
| Franco Colapinto | Alpine | $500,000–$1 million |
| Arvid Lindblad | Racing Bulls | $500,000–$1 million |
Source: RacingNews365’s reported 2026 salary estimates. Figures are approximate annual base salaries in US dollars and exclude bonuses and personal sponsorship income.
Who is the highest-paid F1 driver in 2026?
1. Max Verstappen – $70 million
Red Bull Racing
Max Verstappen leads the 2026 salary estimates with an annual base salary of approximately $70 million. His multiple world championships, race victories and importance to Red Bull have helped him secure one of the most lucrative contracts in motorsport.
2. Lewis Hamilton – $60 million
Ferrari
Seven-time world champion Lewis Hamilton is reportedly earning around $60 million annually at Ferrari. His experience, global popularity and commercial value make him one of Formula 1’s biggest financial names.
3. Charles Leclerc – $34 million
Ferrari
Leclerc is among the highest-paid drivers on the grid, with a reported annual salary of approximately $34 million. His long-term association with Ferrari and performances in qualifying and races contribute to his market value.
4. George Russell – $34 million
Mercedes
Russell reportedly earns the same base salary as Leclerc. Since becoming Mercedes’ leading driver following Hamilton’s departure, he has continued to build his reputation as one of the sport’s established competitors.
5. Lando Norris – $30 million
McLaren
Norris has a reported annual base salary of approximately $30 million. His 2025 drivers’ championship success strengthened his position as one of Formula 1’s leading stars.
How much do rookie F1 drivers earn?
Not every Formula 1 driver earns tens of millions of dollars. Younger competitors entering the championship usually receive smaller contracts while they establish themselves.
For the 2026 season, Arvid Lindblad and Franco Colapinto are among the lowest-paid drivers, with reported base salaries of approximately $500,000 to $1 million.
Other relatively inexperienced drivers also earn less than established champions. Oliver Bearman and Liam Lawson are estimated to earn around $1 million each, while Mercedes youngster Kimi Antonelli and Audi’s Gabriel Bortoleto reportedly earn approximately $2 million.
These figures demonstrate the significant financial gap between experienced championship contenders and drivers beginning their Formula 1 careers.
However, a lower starting salary does not necessarily mean a driver will remain at that level. Strong performances, contract renewals and opportunities with larger teams can lead to substantial increases.
How do F1 drivers make their money?
Formula 1 drivers earn money through several different sources. Their team contracts provide the foundation of their income, but performance rewards and commercial partnerships can significantly increase their overall earnings.
1. Annual team salaries
The biggest source of income for most F1 drivers is their contractual salary. Teams negotiate agreements that determine how much a driver receives for competing during a particular season.
These contracts may run for multiple years and include provisions for salary increases, performance targets and renewal options.
2. Race and championship bonuses
Many contracts include additional payments for achieving specific results. Drivers may receive bonuses for winning races, securing podium finishes, collecting championship points or winning the drivers’ championship.
The amount varies according to individual contracts. A championship-winning season can therefore make a major difference to a driver’s total annual income.
3. Personal sponsorship deals
F1 drivers can also earn money through commercial partnerships with brands. These agreements may involve advertising campaigns, product promotions, public appearances and social media activities.
Drivers with large international audiences and strong personal brands can attract valuable sponsorship opportunities.
4. Endorsements and business ventures
Some drivers generate additional income through clothing brands, investments, personal businesses and other commercial activities.
Lewis Hamilton, for example, has developed a global profile that extends beyond motorsport, while several other drivers have established partnerships and businesses outside racing.
Does the F1 budget cap affect driver salaries?
Formula 1 introduced a financial cost cap to control how much teams spend on certain aspects of running their operations.
However, driver salaries are excluded from the main cost-cap calculation. This means teams can negotiate substantial contracts with leading drivers without including those salaries in the same spending limit that applies to many car-development and operational costs.
The exemption is one reason why the biggest teams can offer exceptionally lucrative contracts to attract and retain championship-winning talent.
It also helps explain how a driver can earn tens of millions of dollars even while the team operates under financial restrictions in other areas.
Why do some F1 drivers earn more than others?
Several factors determine how much a Formula 1 driver earns.
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Championship success: Drivers with multiple titles and consistent victories often have greater negotiating power.
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Experience: Established competitors can command higher salaries than newcomers.
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Team performance: Drivers at financially powerful teams may have access to larger contracts.
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Marketability: Global popularity and commercial appeal can increase a driver’s overall earning potential.
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Contract negotiations: Multi-year agreements, renewal clauses and performance incentives can influence annual compensation.
A driver’s salary is therefore not determined by racing ability alone. Reputation, commercial value and the team’s financial priorities also play important roles.
How much do F1 drivers earn per race?
An F1 driver’s annual salary can be divided by the number of Grand Prix races in a season to estimate an average salary per race.
For example, using the reported $70 million annual base salary for Verstappen and a 24-race season:
This means Verstappen’s average base salary allocation would be approximately $2.92 million per Grand Prix.
For Hamilton, with a reported $60 million salary, the equivalent calculation would be:
These are mathematical averages, not actual payments made after each race. Drivers are generally paid according to their contractual arrangements rather than receiving a fixed amount for every Grand Prix.
Final thoughts: How much do F1 drivers really make?
Formula 1 remains one of the most financially rewarding sports for elite athletes. In 2026, reported annual base salaries range from around $500,000 for some newcomers to approximately $70 million for the highest-paid driver.
Max Verstappen and Lewis Hamilton occupy the top positions in reported salary estimates, while other established names such as Charles Leclerc, George Russell and Lando Norris also command multimillion-dollar contracts.
However, base salaries tell only part of the story. Race bonuses, championship rewards, sponsorship agreements and business activities can significantly increase a driver’s total earnings.
For young racers hoping to reach Formula 1, the financial rewards can be enormous, but securing a seat and maintaining a successful career at the highest level remain highly competitive challenges.
