Lewis Hamilton is a highly accomplished and successful Formula 1 driver, with numerous records under his belt. He currently holds the records for the most race wins, pole positions, and fastest laps in F1 history. The only record left for him to break is that of having the most World Championships, a record currently held by Michael Schumacher and the Brit jointly.
Hamilton has been with Mercedes since 2013 and has experienced immense success with the team. His current contract with Mercedes is worth around $50 million, with an additional bonus of $25 million if he wins the championship in 2023. The British driver who was knighted in later 2021 and was given the title “Sir”, truly lives a royal life that he rightfully earned.
🏎️ Arise Sir @LewisHamilton!— The Royal Family (@RoyalFamily) December 15, 2021
The seven-time @F1 World Champion received his Knighthood from The Prince of Wales at today’s Investiture ceremony held at Windsor Castle. pic.twitter.com/I3xicKLLYp
Lewis Hamilton‘s contract with Mercedes is set to expire at the end of the 2023 season. While both parties have expressed their desire to continue the partnership, the financial aspect of the deal is a major hurdle. Hamilton is considered one of the most marketable athletes in the world, which makes it financially challenging for Mercedes to keep him on board.
The new contract that is being negotiated is reportedly worth over $403 million and includes Hamilton becoming a brand ambassador for Mercedes for the next 10 years, earning $25 million annually.
How much does Lewis Hamilton earn from Mercedes?
Despite being 38 years old, Hamilton has no plans of retiring and has vowed to fight for his eighth World Championship title. He is set to extend his contract with Mercedes for two additional seasons, provided he is paid $70 million. While rumors have been circulating about a $217 million two-year deal with an additional $389.6 million contract over 10 years as a Mercedes ambassador, these whispers have been snubbed by Mercedes team boss Toto Wolff.
In the 2022 season, Hamilton earned a total of $57 million from Mercedes but considered it the worst season of his career, with no race wins and finishing in P6 in the standings. His new teammate George Russell outperformed him, finishing in P4.
Contract talks have started between Lewis Hamilton and Mercedes 🤝 #F1 @MercedesAMGF1 https://t.co/T2WET19ooq— Formula 1 (@F1) February 15, 2023
Despite being the highest-paid driver on the grid, Hamilton was outmatched on track and in earnings by Red Bull’s Max Verstappen, who signed a long-term deal with his team after defeating Hamilton for the championship title in 2021. Verstappen earned a pre-tax total of $60 million from his salary and bonuses in the 2022 season, becoming the highest-paid F1 driver.
Despite his immense wealth, Hamilton is known for his philanthropic endeavors and owns several luxury assets such as cars and houses.
Lewis Hamilton’s endorsements and assets
In addition to his sizable salary, the 7 times world champion earns a considerable amount of money through endorsements. Hamilton has lucrative deals with several brands including Tommy Hilfiger, Monster Energy, Puma, IWC, Sony, Bose, Bell Helmets, MV Augusta Motorcycles, Petronas, and Gran Turismo Sport. These partnerships bring him approximately $8 million per year. Additionally, he has collaborated with Tommy Hilfiger on his own clothing line called ‘TommyXLewis’ which has been widely popular.
Hamilton’s love for fashion has led him to design a range of clothing that has been highly appreciated by his fans worldwide. He also collaborated with Japanese contemporary artist Takashi Murakami to design psychedelic t-shirts and hoodies for his brand. As of 2022, the Mercedes driver’s net worth is estimated to be $285 million.
It’s here! Excited to share the latest #TommyXLewis – our most-sustainable collection to date. Check it out and let me know what you think! 👉🏾 https://t.co/dAIG5BdhMX #AD pic.twitter.com/hkJiSHqD7K— Lewis Hamilton (@LewisHamilton) September 15, 2020
As a race car driver, Lewis Hamilton is an automobile enthusiast and has a collection of extraordinary cars in his garage, including hypercars worth at least $15 million. He uses his electric Mercedes-AMG EQS for daily usage to keep up with his commitment to the environment. Apart from cars, Hamilton invests in yachts and properties as well. Apart from all that, the Briton also owns a $4 million 90-foot Sunseeker yacht often spotted in the docks of Monaco.
Hamilton also invests his earnings in businesses, including his vegan burger joint called ‘Neat Burger’ which he runs with Hollywood star Leonardo Di Caprio. He also invested in TMRW Sports, a sports media and entertainment business established by Tiger Woods and Rory McIlroy. In addition, he recently became a minority owner of the NFL team Denver Broncos.
Today we announce the launch of Neat Burger, a plant-based restaurant chain with a commitment to ethical practices and being kinder to our world. I’m so excited to be part of this company, which aims to revolutionize the way we view meat-free food. @NeatBurger_ 🌱🍔 pic.twitter.com/Ngj27avBfe— Lewis Hamilton (@LewisHamilton) August 29, 2019
The crowd assumes that Hamilton’s domination in F1 has come to an end with his crumbling age and issues with the Mercedes livery. But the fact that he drove himself to the position where he is at the moment in addition to having a good car cannot be overlooked.