Mercedes F1 boss Toto Wolff achieves billionaire status
Toto Wolff owns 33% of the Mercedes F1 team, Daimler (the Mercedes-Benz parent company) owns another 33%
Toto Wolff’s sporting achievements and business savvy have resulted in him becoming a billionaire, according to Forbes.
The Mercedes F1 team principal had his personal net worth reported at exactly $1 billion, as of April 2023.
Wolff not only runs the F1 team that boasts Lewis Hamilton and George Russell, he is a part-owner.
The Austrian owns 33%, while Mercedes-Benz’s parent company Daimler own another 33%.
The final third is owned by INEOS, the company belonging to Britain’s richest man Sir Jim Ratcliffe.
Wolff’s vast fortune has been aided by Netflix show ‘Drive to Survive’ which helped his celebrity status, Forbes report.
His success (eight constructors’ championships in a row, seven drivers’ championships including six for Hamilton) has made Mercedes synonymous with Formula One.
That F1 brand also translates to the road.
For example, the Mercedes-Benz C63 S AMG E Performance F1 Edition, described as “a real gamechanger in the 55-year history of AMG” which “brings state-of-the-art technologies from motorsport to the road”.
The F1-inspired car, which comes as saloon or estate, also comes with a customised AMG Indoor Car Cover with an F1 logo.
Wolff’s vast fortune has been aided by Netflix show ‘Drive to Survive’ which helped his celebrity status.