Lewis Hamilton is motorsports' richest driver — here's how he makes and spends his millions

Cork GainesNov 5, 2022, 23:47 IST

Bryn Lennon/Getty Images

Lewis Hamilton is the biggest star in motorsports and takes home $57 million a year from his Mercedes contract.
He is one of the best drivers of all time, tied with Michael Schumacher on a record seven Formula One world titles.
As the only Black driver in F1 history, he has used his voice to promote equality and has campaigned for other issues, such as LGTBQ+ equality and environmental concerns.
Hamilton's success on the track has earned him millions, making him the 17th highest-paid athlete in the world.

Sam Cooper contributed to an earlier version of this post.

Hamilton is the biggest and highest-paid star in Formula One. He signed a new deal with his current Mercedes in 2021, which Forbes estimated earned the British star $57 million in 2022.

Hamilton is the star of F1. The Brit has been racing since 2007.Bryn Lennon - Formula 1/Formula 1 via Getty Images

Hamilton is the biggest and highest-paid star in Formula One. He signed a new deal with his current Mercedes in 2021, which Forbes estimated earned the British star $57 million in 2022.

The 7-time champion still takes in more than his top rival, Max Verstappen. The 2021 champion makes $46 million per year on the track.

Lewis Hamilton (left) and Max Verstappen have been portrayed as bitter rivals.Mario Renzi - Formula 1/Formula 1 via Getty Images

Hamilton also takes in an estimated $8 million in endorsements annually.

The Mercedes team merchandise is also designed by Tommy HilfigerJohn Keeble/Getty Images

He has lucrative deals with Tommy Hilfiger, Monster Energy, Puma, IWC, Sony, Bose, Bell Helmets, MV Augusta Motorcycles, Petronas, and Gran Turismo Sport.

Lewis Hamilton Mercedes CommercialYouTube/BenzTNT

Hamilton has an estimated net worth of $285 million.

Tobias SCHWARZ / AFP

Unsurprisingly for an F1 driver, Hamilton is a fan of cars. Cars reported to be included in his collection include a $1.2 million McLaren P1, two $1.6 million Ferrari LaFerraris, and a $2.7 million Mercedes-AMG Project One.

Instagram/lewishamilton

Unsurprisingly for an F1 driver, Hamilton is a fan of cars. Cars reported to be included in his collection include a $1.2 million McLaren P1, two $1.6 million Ferrari LaFerraris, and a $2.7 million Mercedes-AMG Project One.

He also used to own a custom-made Pagani Zonda. However, Hamilton reportedly wanted to cut back on his carbon footprint, so he sold the car for $10 million.

YouTube/ExoticCarSpotter

But as Hamilton has become more environmentally conscious, his daily car of choice is the electric Mercedes-AMG EQS with a base price of $102,000.

Mercedes

It's not just road cards either. Hamilton has described himself as a "motorhead" and enjoys posting to his Instagram pictures of him with his latest vehicle of choice including this off-road buggy.

Instagram/LewisHamilton

It's not just road cards either. Hamilton has described himself as a "motorhead" and enjoys posting to his Instagram pictures of him with his latest vehicle of choice including this off-road buggy.

He also spent $4 million on a 90-foot Sunseeker yacht, which is typically docked in Monaco.

Twitter/Sunseeker

In 2017, Hamilton shared video of himself partying in Monaco aboard the much larger 270-foot Alfa Nero yacht.

IG/LewisHamilton

When he's not driving, Hamilton can relax and unwind in one of his four reported properties. Hamilton owns a $43 million New York penthouse, a $24 million London mansion, and houses in Geneva and the racing drivers' favorite, Monte Carlo.

Hamilton owns an apartment in New YorkBryn Lennon/Getty Images and Gary Hershorn/Getty Images

When he's not driving, Hamilton can relax and unwind in one of his four reported properties. Hamilton owns a $43 million New York penthouse, a $24 million London mansion, and houses in Geneva and the racing drivers' favorite, Monte Carlo.

He also used to own a £16.5 million ($22.5 million) private jet but sold it in 2019.

Twitter/Lewis Hamilton

Hamilton is into his fashion and is often pictured arriving at the track in an array of designer clothing.

Hamilton is known for his outfit choices on the way to the trackBryn Lennon/Getty Images and Lars Baron/Getty Images

He recently joined Zendaya as one of the faces of Valentino's PP Pink campaign.

Twitter/Valentino

In addition to fashion, Hamilton also poke to Vanity Fair recently about expanding his business empire away from the track.

Vanity Fair

One of his interests is "planet-friendly start-ups." This includes expanding his London-based vegan restaurant Neat Burger to the United States with new partner Leonardo DiCaprio.

Twitter

One of his interests is "planet-friendly start-ups." This includes expanding his London-based vegan restaurant Neat Burger to the United States with new partner Leonardo DiCaprio.

He is also taking on Hollywood, having recently signed on as a producer for an F1 movie for Apple TV starring Brad Pitt.

Lewis Hamilton, Brad Pitt, and Tim Cook.Mario Renzi - Formula 1/Formula 1 via Getty Images

Hamilton was also announced as one of several big-name investors in TMRW Sports, a sports, media, and entertainment company started by Tiger Woods and Rory McIlroy.

Jamie Squire/Getty

He was also recently announced as a new minority owner for the NFL's Denver Broncos.

Twitter/Denver Broncos

While the season itself can be intense, Formula One drivers do get down time and Hamilton chooses to spend his vacationing in an array of exotic locales.

IG/LewisHamilton

During the 2022 summer break, Hamilton took a "humbling" and "grounding" trip to Africa.

Instagram/LewisHamilton

He is also a big fan of going fast on the water, like some time he recently spent with MotoGP rider Fabio Quartararo.

IG/LewisHamilton

The one Hamilton spoils the most is probably Roscoe, his dog of 10 years that he calls his "best friend."

IG/LewisHamilton

Hamilton is a proud advocate for causes he believes in and has shown he is willing to put his money where his mouth is. He pledged $27 million to a charity called Project 44, which aims to empower young people from under-represented groups in the UK.

Getty/NurPhoto

Hamilton is a proud advocate for causes he believes in and has shown he is willing to put his money where his mouth is. He pledged $27 million to a charity called Project 44, which aims to empower young people from under-represented groups in the UK.

Roscoe often travels with Hamilton to races and is probably one of the luckiest pups in the world. What a life.

Roscoe joined Hamilton for celebrations when he won his seventh drivers' championshipClive Mason/Getty Images

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Lewis Hamilton is motorsports' richest driver &mdash; here's how he makes and spends his millions

Hamilton is the biggest and highest-paid star in Formula One. He signed a new deal with his current Mercedes in 2021, which Forbes estimated earned the British star $57 million in 2022.

The 7-time champion still takes in more than his top rival, Max Verstappen. The 2021 champion makes $46 million per year on the track.

Hamilton also takes in an estimated $8 million in endorsements annually.

He has lucrative deals with Tommy Hilfiger, Monster Energy, Puma, IWC, Sony, Bose, Bell Helmets, MV Augusta Motorcycles, Petronas, and Gran Turismo Sport.

Hamilton has an estimated net worth of $285 million.

Unsurprisingly for an F1 driver, Hamilton is a fan of cars. Cars reported to be included in his collection include a $1.2 million McLaren P1, two $1.6 million Ferrari LaFerraris, and a $2.7 million Mercedes-AMG Project One.

He also used to own a custom-made Pagani Zonda. However, Hamilton reportedly wanted to cut back on his carbon footprint, so he sold the car for $10 million.

But as Hamilton has become more environmentally conscious, his daily car of choice is the electric Mercedes-AMG EQS with a base price of $102,000.

It's not just road cards either. Hamilton has described himself as a "motorhead" and enjoys posting to his Instagram pictures of him with his latest vehicle of choice including this off-road buggy.

He also spent $4 million on a 90-foot Sunseeker yacht, which is typically docked in Monaco.

In 2017, Hamilton shared video of himself partying in Monaco aboard the much larger 270-foot Alfa Nero yacht.

When he's not driving, Hamilton can relax and unwind in one of his four reported properties. Hamilton owns a $43 million New York penthouse, a $24 million London mansion, and houses in Geneva and the racing drivers' favorite, Monte Carlo.

He also used to own a £16.5 million ($22.5 million) private jet but sold it in 2019.

Hamilton is into his fashion and is often pictured arriving at the track in an array of designer clothing.

He recently joined Zendaya as one of the faces of Valentino's PP Pink campaign.

In addition to fashion, Hamilton also poke to Vanity Fair recently about expanding his business empire away from the track.

One of his interests is "planet-friendly start-ups." This includes expanding his London-based vegan restaurant Neat Burger to the United States with new partner Leonardo DiCaprio.

He is also taking on Hollywood, having recently signed on as a producer for an F1 movie for Apple TV starring Brad Pitt.

Hamilton was also announced as one of several big-name investors in TMRW Sports, a sports, media, and entertainment company started by Tiger Woods and Rory McIlroy.

He was also recently announced as a new minority owner for the NFL's Denver Broncos.

While the season itself can be intense, Formula One drivers do get down time and Hamilton chooses to spend his vacationing in an array of exotic locales.

During the 2022 summer break, Hamilton took a "humbling" and "grounding" trip to Africa.

He is also a big fan of going fast on the water, like some time he recently spent with MotoGP rider Fabio Quartararo.

The one Hamilton spoils the most is probably Roscoe, his dog of 10 years that he calls his "best friend."

Hamilton is a proud advocate for causes he believes in and has shown he is willing to put his money where his mouth is. He pledged $27 million to a charity called Project 44, which aims to empower young people from under-represented groups in the UK.

Roscoe often travels with Hamilton to races and is probably one of the luckiest pups in the world. What a life.

Lewis Hamilton is motorsports' richest driver — here's how he makes and spends his millions