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Lewis Hamilton Net Worth 2024 - Ferrari Contract, Salary, and More
All about Lewis Hamilton’s Net Worth, his contract, salary, businesses and more on Pinkvilla.
Lewis Hamilton, a name synonymous with speed, precision, and unparalleled success in the world of Formula One, has cemented his legacy as one of the greatest drivers of all time.
As of 2024, Hamilton's journey from a young karting prodigy to a global motorsport icon is not just a tale of racing triumphs but also a story of shrewd financial acumen and diverse investments.
What is Lewis Hamilton's Net Worth in 2024?
Lewis Hamilton's net worth is a reflection of his exceptional career in F1 racing, savvy investments, and lucrative endorsement deals.
With an estimated net worth of $285 million, Hamilton's financial success is as remarkable as his achievements on the track.
Hamilton's journey to financial prosperity began with his racing career, where he has been a trailblazer, achieving unprecedented success in F1.
From an early age, Hamilton was determined to become a race car driver, a dream supported ardently by his father.
His career took off after he signed with the McLaren young driver program and later made his F1 debut with McLaren in 2007.
Over the years, Hamilton's talent and hard work have earned him 7 World Championships, tying with Michael Schumacher for the most in the sport's history.
His career earnings have been bolstered by his salary from Mercedes, where he has been since 2013, including a notable contract extension in 2018 reported to be worth nearly $50 million to $55 million per year.
Beyond his salary, Hamilton's net worth has been significantly enhanced through endorsements and business ventures.
His wealth is also reflected in his assets, including luxury properties in London, Monaco, New York, and a collection of high-end cars and a private yacht, showcasing his taste for the finer things in life.
Lewis Hamilton's Contract
Lewis Hamilton's journey through Formula 1 contracts reflects a remarkable career path marked by success, strategic decisions, and now, a groundbreaking move to Ferrari for the 2025 season.
McLaren to Mercedes
Hamilton's professional F1 career began with McLaren, where he signed up with their young driver program and made his Formula 1 debut in 2007.
He achieved considerable success with the team, including winning his first World Championship in 2008.
His tenure at McLaren was marked by competitive performances and a growing reputation as a world-class driver.
Mercedes: A Historic Partnership
In 2013, Hamilton made a significant career move to Mercedes, a decision that would lead to one of the most successful partnerships in Formula 1 history.
At Mercedes, Hamilton achieved unparalleled success, securing six of his seven World Championships and becoming the most successful F1 driver in terms of race victories.
In the midst of his 11th season with Mercedes, Hamilton renewed his commitment to the team by signing a two-year extension, ensuring he would remain with Mercedes through the 2025 season.
This contract was seen as a reaffirmation of their successful partnership, with both parties expressing their dedication to achieving further success together.
The Move to Ferrari
Hamilton's upcoming switch to Ferrari in 2025 has been one of the most talked-about moves in recent F1 history.
Ferrari has confirmed Hamilton on a multi-year contract, with Mercedes announcing that Hamilton activated a release clause in his contract to leave after the 2024 season.
Ferrari announced Hamilton's contract as a "multi-year" agreement, signaling their long-term commitment to each other.
The contract with Ferrari is reportedly worth around $100 million per year, including salary, sponsorships, image rights, and bonuses.
Italian Formula 1 journalist Leo Turrini disclosed that Hamilton signed a "2+1" contract with Ferrari, potentially extending his stay until the end of the 2026 season, depending on the team's performance and the development of their car post-2026 regulation changes.
Furthermore, the deal includes substantial investments in Hamilton's charitable foundation, Mission 44, and a joint investment fund with Ferrari's parent brand, Exor, showcasing the comprehensive nature of this partnership beyond racing.
This move pairs Hamilton with Charles Leclerc, potentially forming one of the most formidable line-ups on the F1 grid.
Hamilton's decision is seen as a bid to chase a record eighth World Championship and to fulfill personal aspirations, possibly influenced by the aspirations of his hero, Ayrton Senna, who also harbored desires to race for Ferrari.
As Hamilton prepares for his final season with Mercedes, the focus remains on delivering a strong performance in 2024, while the anticipation for his Ferrari debut in 2025 continues to build.
Lewis Hamilton's Salary
Lewis Hamilton's salary history reflects his remarkable career as one of Formula 1's premier drivers.
His progression from McLaren to Mercedes and soon to Ferrari showcases a trajectory not just of sporting excellence but also of increasing financial remuneration reflective of his status in the sport.
McLaren 2007-2012:
Started with approximately $300,000 in 2007, escalating to around $10 million towards the end of his tenure with bonuses included.
Mercedes 2013-2025:
Hamilton initially, in 2013 signed a deal reportedly worth £60 million over three years. By 2015, his annual earnings had increased to around £33 million ($50 million) per year.
His latest contract, extending through 2025, sees him earning $55 million annually, making him one of the highest-paid drivers on the grid.
Ferrari from 2025:
Although specific figures for Hamilton's upcoming contract with Ferrari starting in 2025 have not been disclosed, but it is reported to be around $100 million per year, including salary, sponsorships, image rights, and bonuses.
Hamilton's salary has not only reflected his on-track performances but also his marketability off the track, with substantial earnings from endorsements adding to his financial portfolio.
His move to Ferrari marks a significant chapter in his career, not only in sporting terms but also financially, as he joins one of the most storied teams in F1 history.
Lewis Hamilton's Cars
Hamilton is renowned for his love of cars, possessing a collection that is as varied as it is prestigious. Few of them are:
- McLaren P1: One of the most celebrated hypercars, known for its hybrid powertrain and limited production run.
- 1966 Shelby Cobra 427: A classic and powerful roadster, commanding a high price due to its rarity and performance.
- LaFerrari: Ferrari's hybrid supercar, combining breathtaking performance with hybrid efficiency.
- Mercedes-AMG Project One: A hypercar that brings Formula 1 technology to the road, representing Hamilton's close ties with Mercedes.
- Pagani Zonda 760 LH: A custom version of the Pagani Zonda, specifically tailored for Hamilton, featuring unique specifications.
Lewis Hamilton's Real Estate
Hamilton's real estate portfolio is as impressive as his car collection, with properties in some of the most prestigious locations worldwide:
- Monaco: Known for its tax benefits and luxury lifestyle, Monaco is where Hamilton primarily resides.
- London Mansion: Hamilton owns a lavish mansion in West London valued at $24 million, serving both as an investment and a personal retreat.
- New York: He's owned penthouses in Manhattan, including a $40 million penthouse in a project partly owned by NFL legend Tom Brady. Located in a celebrity-favored building, signifying his taste for luxury and exclusivity.
- Geneva Property: Adds to his portfolio's diversity, situated in another tax-advantageous jurisdiction. Lewis Hamilton's Geneva property is an exotic apartment located on top of a 6-storey building, featuring three spacious bedrooms with a stunning view of Lake Geneva.
Lewis Hamilton's Endorsements, Businesses and Investments
Hamilton's marketability extends far beyond the racetrack, earning him lucrative endorsement deals with:
- Puma: Sportswear and lifestyle brand, leveraging his fashion sense and athletic achievements.
- Monster Energy Drink: Aligning with his dynamic persona and energy on and off the track.
- Tommy Hilfiger: A partnership that extends into a collaborative clothing line, blending Hamilton's fashion interests with his environmental and social activism.
- Neat Burger: A plant-based burger chain, reflecting his advocacy for veganism and sustainable living.
- Team X44 in the Extreme E racing series: Highlighting his commitment to environmental causes and his passion for motorsports beyond Formula 1.
- Mercedes-Benz Project One development: Involvement in the development of this hypercar underscores his deep interest in automotive technology and performance.
- Denver Broncos: Part of an investor group for the NFL team, showcasing his interest in sports beyond Formula 1.
- Almave: Launch of a non-alcoholic spirit made from blue agave.
- Zapp App: Hamilton invested in Zapp, a fast-growing instant grocery delivery service based in the UK.
- Qualcomm: Hamilton has collaborated with Qualcomm, a global semiconductor company that designs and markets wireless telecommunications products and services.
- IWC Schaffhausen: Hamilton has a long-standing partnership with IWC Schaffhausen, he has been involved in various marketing campaigns and has even co-designed limited edition watches, blending his personal style with IWC's craftsmanship.
- Formula 1 Film with Brad Pitt: Hamilton is producing a Formula 1-themed film project alongside Hollywood star Brad Pitt. This project, directed by Joseph Kosinski, aims to bring the excitement of Formula 1 racing to the big screen.
Lewis Hamilton's journey is a blend of unparalleled racing success and astute financial management.
Lewis Hamilton's net worth in 2024 is a mirror to his multi-faceted life, showcasing not just a driver who excels on the track but also a savvy investor, a passionate advocate for social causes, and a global icon whose influence transcends the world of F1.
As Hamilton continues to navigate the fast lanes of both motorsport and financial growth, his legacy reflects the power of ambition, discipline, and the relentless pursuit of excellence.
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