Net Worth Ranker
What Is Lewis Hamilton’s Net Worth?
Lewis Hamilton, the celebrated British Formula One racing driver, boasts a substantial net worth estimated at $300 million. This wealth is primarily accumulated through his lucrative racing career, endorsements, and strategic investments.
Lewis Hamilton’s Career Earnings and Contract Details
Hamilton’s financial success is significantly driven by his Formula One contracts. He ranks among the highest-paid drivers globally, frequently earning between $70 million and $90 million annually. A significant portion of this income stems from his Mercedes contract, which provided him with a base salary of $60 million per year.
In July 2023, Hamilton solidified a two-year agreement with Mercedes, securing his position with the team for the 2024 and 2025 seasons at $60 million per year. However, in a surprising turn of events announced on February 1, 2024, Hamilton exercised an option to terminate the contract after the 2024 season. He will be moving to Ferrari for the 2025 season. It is rumored he will make $107 million per year.
Beyond his base salary, Hamilton’s earnings are augmented by endorsements and prize money. For example, between June 2016 and June 2017, his total earnings from these sources amounted to approximately $50 million. The subsequent year, from June 2017 to June 2018, his earnings increased to $51 million, followed by $55 million in the subsequent 12-month period. The exact breakdown between endorsements and prize money isn’t publicly detailed, but these figures illustrate the significant impact of these revenue streams on his overall income.
Early Life and Career Beginnings
Lewis Carl Davidson Hamilton was born on January 7, 1985, in Stevenage, Hertfordshire, England. He spent his early years living with his mother, Carmen, and half-sisters until the age of 12. Following his parents’ separation when he was two, he moved to live with his father, Anthony, stepmother, and half-brother Nicolas. Hamilton attended The John Henry Newman School in Hertfordshire, a Catholic secondary school, where he also participated in football (soccer) and cricket.
Hamilton’s passion for racing ignited at a young age. At six years old, his father gifted him a radio-controlled car, leading to a second-place finish at the British Radio Car Association championship the following year. Recognizing his son’s potential, Anthony Hamilton provided unwavering support, promising to nurture Lewis’s racing aspirations on the condition that he remained committed to his education.
A pivotal moment occurred when a ten-year-old Hamilton approached Ron Dennis, the McLaren racing team principal, expressing his ambition to race for McLaren. This bold declaration led to Hamilton’s inclusion in the McLaren Young Driver program in 1998. By 2007, he had become an official Formula One McLaren driver, marking a significant milestone in his career. In 2008, Hamilton secured his first F1 World Championship with McLaren, becoming the then-youngest-ever Formula One World Champion. He joined Mercedes in 2013.
Milestones and Achievements
Hamilton’s career is marked by numerous milestones and achievements. He finished as the runner-up in the 2007 season. In 2008, he won the F1 World Championship. He has won seven World Championships as of this writing, moving him into a tie with Michael Schumacher for the most. He achieved consecutive World Championship titles in 2014 and 2015 and again in 2017, 2018 and 2019. These accomplishments have cemented his status as one of the most successful and influential figures in Formula One history.
Hamilton has also been recognized for his contributions outside of racing. In June 2020, he revealed that he would be racing in a brand new, all-black Mercedes in support of Black Lives Matter. Hamilton has been vocal about the lack of diversity in Formula One racing. The car, called the Black Arrow, was designed by Hamilton and made its debut in Austria over the 4th of July weekend as the delayed Formula One season finally got in gear.
Real Estate Portfolio
Hamilton’s real estate holdings reflect his significant wealth and include properties in various locations worldwide. In 2019, he listed his New York penthouse for $57 million. Located in the same Tribeca building that Justin Timberlake and Jessica Biel, Meg Ryan, Jake Gyllenhaal, and Bella Hadid live in, the 8,900-square-foot unit is the largest penthouse loft in the building. Hamilton bought it for $43.9 million in 2017. In December 2021, he sold this property for $50 million.
He reportedly never lived in the unit… possibly because he ALSO owns a penthouse located not far away at 70 Vestry Street which he ALSO acquired in 2019 for $40.7 million. Hamilton owns a four-story mansion with six bedrooms in Kensington, West London, that was built in 1860 and is worth $25 million. Hamilton also owns apartments in Nyon, a suburb of Geneva, Switzerland, and in Monaco, and has an estate in Colorado where he plans to live after his retirement. The specific addresses of the Nyon, Monaco apartments, and Colorado estate are not publicly available.
Luxury Car Collection
Based on the cars he has shown on social media or has confirmed to officially own, Lewis Hamilton’s car collection is worth at least $40 million. His 1995 McLaren F1 alone is worth around $20 million. Below are some of the most significant cars found in his collection:
- 1995 McLaren F1 – $20 million
- Ferrari LaFerrari Aperta $4.1 million
- Ferrari LaFerrari – $4 million
- Mercedes-AMG One – $2.7 million
- McLaren P1 – $1.8 million
- 1967 Ford Mustang Shelby GT500 – $1.4 million
- Mercedes-AMG SLS Black – $270,000
- AC 1966 Shelby Cobra 427 – $100,000
The total value for just these eight cars is $34.4 million. This exclusive collection highlights Hamilton’s passion for automobiles and further contributes to his overall net worth.
Other Ventures and Personal Life
In 2018, Hamilton launched a clothing line, TOMMYXLEWIS, during New York Fashion Week with American fashion designer Tommy Hilfiger alongside models Winnie Harlow and Hailey Baldwin.
In September 2022, Hamilton launched Team X44 to compete in the all-electric SUV off-road racing series Extreme E. Team X44 finished second in the inaugural Extreme E championship and, in January 2022, were crowned winners of the Extreme E Sustainability Award. They won the 2022 Championship, beating RXR, who were disqualified from the race. Also, in 2022, Hamilton joined the newly established ownership group of the Denver Broncos. These ventures showcase Hamilton’s entrepreneurial spirit and contribute to his income streams outside of Formula One racing, adding to his net worth.
Hamilton was romantically linked to Nicki Minaj as well. The two took a romantic vacation to Dubai together. Hamilton is vegan. Lewis Hamilton has been criticized by some MPs for avoiding paying U.K. taxes by living out of the country. Hamilton was named after Olympic sprint champion Carl Lewis. Hamilton, an Arsenal fan, said that if he didn’t have a career in Formula One, he would have been a footballer or a cricketer — he played both in high school. In 2022, Lewis announced that he was in the process of legally changing his name to include his mother’s maiden name, Larbalestier, as a middle name. In June 2022, Hamilton was made an honorary citizen of Brazil when politician Andre Figueiredo’s proposal was passed in the Brazilian Chamber of Deputies.
