F1 salaries: who are the highest paid drivers in 2021?


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Lewis Hamilton will be going for a record-breaking eighth Formula One world championship when the action gets underway in Bahrain on Sunday.

The 36-year-old won his seventh title last season, matching the all-time record of Michael Schumacher.

Fernando Alonso, the 39-year-old double world champion, is back on the grid with Alpine, while Schumacher's son Mick competes in his debut season for Haas.

Above is a photo gallery of the drivers in Formula One and their annual salaries for the 2021 F1 season, according to spotrac, an online sports team and player contract website.

To move on to the next image, click on the arrows, or if you're using a mobile device, simply swipe.

Who is Formula One's highest paid driver?

Lewis Hamilton is by far the best-paid driver in Formula One, with the Mercedes star earning an annual salary of $55,000,000, according to spotrac.com.

The British driver has won seven F1 titles, and will be going for a record eighth in 2021.

The 20 F1 drivers and their salaries

1. Lewis Hamilton (Mercedes) $55,000,000

2. Fernando Alonso (Alpine), $20,500,000

3. Max Verstappen (Red Bull) $19,130,000

4. Daniel Ricciardo (McLaren) $17,000,000

4= Sebastian Vettel (Aston Martin) $17,000,000

6. Valtteri Bottas (Mercedes) $11,000,000

6= Charles Leclerc (Ferrari) $11,000,000

8. Kimi Raikkonen (Alfa Romeo), $7,525,000

9. Carlos Sainz (Ferrari) $6,841,000

10. Esteban Ocon (Alpine) $4,652,000

11. Sergio Perez (Red Bull) $3,420,000

12. Pierre Gasly (Alpha Tauri) $1,915,000

12= Lance Stroll (Aston Martin) $1,915,000

12= Lando Norris (McLaren) $1,915,000

15. Nicholas Latifi (Williams) $958,000

15= George Russell (Williams) $958,000

17. Antonio Giovinazzi (Alfa Romeo) $684,000

Nikita Mazepin (Haas) Not known

Mick Schumacher (Haas) Not known

Yuki Tsunoda (Alpha Tauri) Not known

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

Company Profile

Company name: Big Farm Brothers

Started: September 2020

Founders: Vishal Mahajan and Navneet Kaur

Based: Dubai Investment Park 1

Industry: food and agriculture

Initial investment: $205,000

Current staff: eight to 10

Future plan: to expand to other GCC markets

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

The specs

Engine: 2.9-litre twin-turbo V6

Power: 540hp at 6,500rpm

Torque: 600Nm at 2,500rpm

Transmission: Eight-speed auto

Kerb weight: 1580kg

Price: From Dh750k

On sale: via special order

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Top financial tips for graduates

Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:

1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.

2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.

3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.

4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative