Despite facing hurdles on the F1 circuit, Toto Wolff’s wealth skyrockets, earning him a spot on Forbes’ Sports Billionaires list.
Toto Wolff may not be celebrating much on the track with the current challenges faced by his Mercedes F1 team, but his financial fortune is thriving.
After becoming a billionaire last year, Forbes magazine has updated its ranking 12 months later, and Toto’s performance is so impressive that Forbes has added him for the first time to its prestigious list of Sports Billionaires.
According to the publication, his fortune now stands at 1.5 billion euros, up 60% from last year. However, the bulk of the Austrian’s current wealth is tied to the value of the Mercedes F1 team.
As a 33% shareholder of the Brackley team, Wolff’s estimated net worth has jumped by 500 million euros, reflecting the increase in the team’s valuation itself in the current booming F1 context.
“Forbes now estimates Toto Wolff’s fortune at 1.5 billion euros, up from a billion (dollars) in March 2023,” the magazine notes.
“This increase is due to the fact that Mercedes F1, the second most valued team (behind Ferrari), is now estimated at 3.8 billion dollars.”
“When Forbes last assessed F1 teams, two years after Liberty Media bought F1 in 2017 for 4.7 billion dollars, the Mercedes team was valued at just over one billion dollars.”
The second richest team boss on the grid is Christian Horner, Wolff’s arch-nemesis in the paddock. However, he is far behind the Austrian, as Forbes indicates that the British has a cash value of around 50 million dollars, with a salary nearing 10 million euros annually.
Toto Wolff’s Fortune Soars Despite F1 Challenges. Toto Wolff’s Fortune Soars Despite F1 Challenges
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