Formula 1 is known as the most expensive sport in the world, and for good reason. Teams spend hundreds of millions of dollars every year developing cars that can cost more than $15 million (around INR 137 crore) each. But while the machines are incredibly expensive, the drivers behind the wheel earn a mouth watering, staggering amount as well, more than enough to make a lifetime for a dozen of normal people.
For new F1 fans, the salaries of top drivers can be totally mind-blowing. Take Lewis Hamilton, for example. The seven-time world champion earns around $60 million per year, which is roughly INR 550 crore. And even that isn’t the highest salary in Formula 1 history.
Contracts with teams, bonuses, and sponsorship deals push the drivers’ earnings even higher. So let’s take a look at the highest-paid Formula 1 drivers ever in a year.
A dozen winners on the grid in 2026! 🤩
Will we see this list grow this season? 👇#F1 pic.twitter.com/zs2XrKfp9w
— Formula 1 (@F1) February 26, 2026
How is an F1 driver’s salary decided?
In Formula 1, a driver’s salary is not just about a fixed paycheck. It is usually a complex package that depends on several factors beyond the base salary. Teams consider things like on-track performance, historical success, market value, commercial appeal, and the financial strength of the team.
One important detail is that driver salaries are exempt from the Formula 1 budget cap. This means teams are allowed to spend freely on their star drivers without it affecting their development budget. Because of this, top talents often command massive contracts.
A driver’s market value is also heavily influenced by past achievements and reputation. Even in seasons where they may not dominate every race, established champions like Max Verstappen or Lewis Hamilton can still earn significantly more than many race winners simply because of their brand value and proven success.
For example, the 2025 drivers champion Lando Norris’ base salary was much lower at $18 million. However, his title win and race victories triggered a huge $39.5 million in bonuses, including a $10 million championship windfall and performance incentives from his seven Grand Prix wins. Yet, this was way less than Verstappen, or Hamilton who did not even get a podium.
At the same time, performance-based bonuses are a huge part of modern F1 contracts. Drivers often receive extra incentives for race wins, podium finishes, championship points, and titles, which can push their annual earnings far beyond the base salary.
Highest Salary In F1 2026 Season
Currently, the highest-earning driver on the 2026 grid is four-time world champion Max Verstappen, who reportedly earns around $70 million in base salary with Red Bull, about $10 million more than Hamilton’s base salary at Ferrari.
Verstappen’s 2025 season also highlighted how lucrative performance bonuses can be. Despite a dramatic mid-season comeback that saw him finish as runner-up in the championship, his on-track earnings reportedly reached around $76 million including bonuses.
Also Read: Lewis Hamilton and F1 Drivers Divided Over 2026 Engine Overhaul Ahead of Chinese Grand Prix
Meanwhile, Lewis Hamilton became the first Formula 1 driver to cross $100 million in total annual income when combining salary with endorsement deals. While his on-track earnings were estimated at around $70.5 million, major personal partnerships with brands such as Dior and Lululemon pushed his total income into nine-figure territory.
How Much the F1 Drivers are Paid in 2026 (Reported Salaries)
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Max Verstappen (Red Bull) – $70 million
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Lewis Hamilton (Ferrari) – $60 million
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Charles Leclerc (Ferrari) – $34 million
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George Russell (Mercedes) – $34 million
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Lando Norris (McLaren) – $30 million
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Fernando Alonso (Aston Martin) – $20 million
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Carlos Sainz (Williams) – $13 million
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Oscar Piastri (McLaren) – $13 million
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Alex Albon (Williams) – $12 million
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Pierre Gasly (Alpine) – $12 million
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Lance Stroll (Aston Martin) – $12 million
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Sergio Pérez (Cadillac) – $8 million
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Esteban Ocon (Haas) – $7 million
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Nico Hülkenberg (Audi) – $7 million
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Isack Hadjar (Red Bull) – $5 million
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Valtteri Bottas (Cadillac) – $5 million
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Gabriel Bortoletto (Audi) – $2 million
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Kimi Antonelli (Mercedes) – $2 million
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Oliver Bearman (Haas) – $1 million
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Liam Lawson (Racing Bulls) – $1 million
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Franco Colapinto (Alpine) – $500,000 to $1 million
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Arvid Lindblad (Racing Bulls) – $500,000 to $1 million
Note: The salaries mentioned above are based on estimates reported by RacingNews365.
