Lewis Hamilton net worth as of 2024 is estimated to be $300 million. He is a well known British Formula One racing driver. His journey in Formula One started with McLaren, where he quickly made a name for himself.
In 2008, he won his first F1 Championship with McLaren, making a record as the youngest-ever Formula One World Champion at that time.
Hamilton’s career reached new heights when he joined Mercedes in 2013, leading to six additional Championships in 2014, 2015, 2017, 2018, 2019, and 2020. On 01st February, 2024, it was announced that Hamilton would leave Mercedes to join Ferrari at the end of the 2024 season.
Personal Life
Lewis Carl Davidson Hamilton was born on 07th January, 1985, in Stevenage, Hertfordshire, England. He was raised in a mixed-race family, his mother, Carmen, is Caucasian, while his father, Anthony, is black.
Hamilton is recognized as black and has sometime spoken about his experiences growing up. His parents got separated when he was two, and he lived with his mother until he was 12, after that he moved in with his father, stepmother, and half-brother, Nicolas.
From a very young age, Hamilton showed an interest in racing. A year later, his father gifted him a go-kart, for Hamilton’s future in motorsport. His father promised him to support his passion for racing as long as he’s focused on his education.
Hamilton went to The John Henry Newman School, a Catholic secondary school in Hertfordshire, where he also excelled in football. In 2001, he went for further studies at Cambridge Arts and Sciences, balancing his education along with his passion for racing.
Lewis Hamilton Net Worth: Salaries and Contracts
Lewis Hamilton net worth shows his status as one of the highest-paid athletes world-wide. His annual income typically ranges between $70-90 million, with an important portion coming from his Mercedes contract, which pays him $60 million per year.
In July 2023, Hamilton extended his contract with Mercedes for an additional two years, making $60 million per year for the 2024 and 2025 seasons.
But Hamilton decided to break this contract after just one year, choosing to switch to Ferrari for the 2025 season, where his earnings are expected to rise to $107 million per year.
Over the years, Hamilton’s earnings from endorsements and prize money have also been good. Between June 2016 and June 2017, he earned approximately $50 million, followed by $51 million between June 2017 and June 2018, and $55 million in the next 12 months.
His collection of Personal Cars
Hamilton’s car collection is valued at an estimated $40 million, with some of the most known vehicles including a 1995 McLaren F1 worth $20million, a Ferrari LaFerrari Aperta valued at $4.1 million, and a Mercedes-AMG One priced at $2.7 million.
This collection underscores Hamilton’s love for luxury cars, further stamping his status as a true icon both on and off the track.
Controversies and Achievements
During his career, Hamilton has faced his share of controversies, both on and off the track. His competitive nature has sometimes led to stress with other drivers, most importantly with Spanish driver Fernando Alonso. This rivalry became serious during races in Spain, where Hamilton was subjected to racial abuse by some Spanish supporters.
In spite of these difficulties, Hamilton continued to excel. In 2018, he launched a clothing line, TOMMYXLEWIS, in collaboration with American fashion designer Tommy Hilfiger. The same year, he signed a two-year contract extension with Mercedes, reportedly worth nearly $50 million annually.
In June 2020, he unveiled an all-black Mercedes in support of Black Lives Matter, a move that highlighted his commitment to promoting diversity in Formula One. The car, known as the Black Arrow, made its debut during the Austrian Grand Prix, marking an important moment in Hamilton’s career.