While Mercedes went through a difficult year away from the track, Toto Wolff and other F1 figures had a very good financial year.
After being declared a billionaire for the first time in 2023, Mercedes team principal Toto Wolff has seen his net worth rise by $600m in 2024.
An estimated value of the team at $3.8billion accounts for most of the Austrian’s new net worth, which is almost quadruple the $1billion proposed valuation of when Liberty Media took over the commercial rights of Formula 1 back in 2017. Wolff is not the only Formula figure to be named on Forbes’ list of billionaires for 2024, however, with Red Bull minority owner Mark Mateschitz, who inherited the 49% stake of his father Dietrich when he passed away, ranked 31st among the richest people in the world, with a $4.9billion increase to a reported net worth of $39.6billion for his stake in the energy drinks company.
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