Formula 1 crowned a new champion in 2025; however, in a sport as prestigious as F1, paychecks are worth far more than simply being champion.
Recently, Forbes released its list of the highest-paid F1 drivers in 2025. The list was a rough estimate based on financial documents, legal filings and press reports due to the classified nature of many salaries. Despite this, Forbes found that the on-track performances of drivers in a season may not correlate with their salaries. Factors such as experience and marketability have clearly played crucial roles in deciding a driver’s salary.
Across the grid, Formula 1’s 10 highest-paid drivers earned an estimated $363 million in salaries and bonuses during the 2025 season.
That figure represents a 15 per cent increase on 2024 and a staggering 72 per cent since Forbes’ first list in 2021, representing how the sport has grown to record-breaking heights.
Norris misses out on top spot despite title win
Despite McLaren’s Lando Norris claiming his maiden Drivers’ championship, the Briton did not walk away as the highest paid in 2025.
Rather, that title once again fell to Red Bull Max Verstappen. The Dutchman, who finished a mere two points behind Norris with a sensational comeback in the closing rounds, had an estimated salary of $65 million USD, with a performance bonus of $11 million, bringing his estimated 2025 total to $67 million USD.
Just behind Verstappen was seven-time World Champion Lewis Hamilton. In his first season at Ferrari, Hamilton earned an estimated $70.5 million, driven largely by a record-setting $70 million salary. Despite this, the Briton endured his first-ever podium-less season in his 19-year F1 career. Regardless, the Briton’s 2025 income highlights a key reality of modern-day F1: Experience, star power and global marketability call for a major salary, even when results are far off expectations.
Meanwhile, Norris finished third with an estimated $57.5 million, combining a base salary of $18 million with a substantial $39.5 million in bonuses tied to his on-track success.
McLaren’s revival and the sport’s rising stars
McLaren’s season dominance was reflected in its clean sweep of Drivers’ and Constructors’ Championships as well as increased driver payouts.
Oscar Piastri ranked fourth with an estimated $37.5 million. This came in light of a season that delivered seven race wins, 16 podiums and a crucial role in securing the Constructors’ title.
Ferrari’s Charles Leclerc rounded out the top five with an estimated $30 million, boosted by a salary increase under a long-term contract extension signed last year.
Veterans also remained well represented. Fernando Alonso, at 44, earned an estimated $26.5 million despite a difficult campaign with Aston Martin.
Meanwhile, George Russell collected $26 million as Mercedes’ lead driver following Hamilton’s departure.
Rounding out the list were two new names added to Forbes’ top 10. Lance Stroll ranked eighth with a $13.5 million contract revealed in Aston Martin’s public financial findings.
In his rookie campaign, Andrea Kimi Antonelli earned an estimated $12.5 million at Mercedes. This included a $7.5 million bonus throughout the season for the teenager.
Why will F1 salaries keep increasing?
Since Forbes began this list in 2021, driver salaries have continually increased. This trend reflects the rapid growth F1 has seen over the past five seasons.
Since the introduction of Netflix’s ‘Drive To Survive,’ the sport has continued to expand into new markets, attracting new sponsorship deals and gaining an unprecedented annual revenue. The average F1 team’s income now exceeds hundreds of millions of dollars annually, thus allowing teams to have higher salaries for their all-important drivers.
Another major factor is the sport’s cost cap, introduced to limit spending on car development and operations.
While teams are restricted in many technical areas, driver salaries are excluded from the cap, allowing teams to invest heavily in elite talent as a competitive advantage.
As a result, proven race winners, world champions and globally marketable stars command increasingly lucrative contracts.
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