Glaring $45 Million Difference Sets Apart Struggling Lewis Hamilton From Freshly Minted GP Winner George Russell

F1 drivers earn a lot and precisely so. The amount of risk they take for sporting entertainment is beyond our thoughts. Although, have you thought about the differences in earnings for two different drivers? A young rookie and a world champion can have a huge gap in their salaries depending on their experience. Such is the case for Lewis Hamilton and George Russell.

The Mercedes drivers had their first season as teammates in 2022. While the 7-time world champion has been with the squad since 2013, Russell had his debut season for the Silver Arrows this year. Now, it’s quite logical to say Lewis, being a 7-time champion, will have the highest salary on the grid.

Although, that scenario has changed since Max Verstappen became the world champion in 2021 and 2022. According to Forbes estimates, Lewis Hamilton is the 2nd highest-paid driver on the F1 grid as of now. The Briton has an estimated salary of $55 million without any bonuses.

But what about his 24-year-old teammate? George Russell was part of Williams Racing for 3 years before 2022. As per the Forbes estimates, Russell just sneaks into the top 10 highest-paid F1 drivers list. His total earnings as a Mercedes driver are estimated at $10 million, which splits as $3 million as salary and $7 million as bonuses.

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It’s quite a difference between Hamilton and Russell as the former earns about 5X times more than his teammate. However, Lewis has the credentials to back the salary. He gets with 100+ race wins and 7 titles to receive $45 million more than his teammate. George will be keen to solidify his record now that he has clinched his first F1 win to ask for a salary increment.

Top-10 Highest-Paid F1 drivers ft. Lewis Hamilton and Max Verstappen

The battle between Lewis Hamilton and Max Verstappen may have been paused in 2022 on track. Though the financial race between the two is surely a new frontier. Until 2021, Hamilton was the highest-earning driver on the F1 grid. But since the Red Bull driver has clinched two back-to-back world titles in 2021 and 2022, he has overtaken Hamilton as the highest-paid driver.

Max Verstappen is estimated to have total earnings of $60 million, consisting of a $40 million salary and $20 million bonuses. Here is the full top-10 highest-earning drivers list as per Forbes estimates. (Breakup given if it includes bonuses)

1. Max Verstappen – $60 million ($40m salary and $20m bonuses)
2. Lewis Hamilton – $55 million
3. Fernando Alonso – $30 million
4. Sergio Perez – $26 million ($10m salary and $16m bonuses)
5. Charles Leclerc – $23 million ($12m salary and $11m bonuses)
6. Sebastian Vettel  – $17 million ($15m salary and $2m bonuses) (tied)
7. Daniel Ricciardo – $17 million ($15m salary and $2m bonuses) (tied)
8. Carlos Sainz – $15 million ($8m salary and $7m bonuses)
9. Lando Norris – $11 million ($5m salary and $6m bonuses)
10. George Russell – $10 million ($3m salary and $7m bonuses)

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While these are estimates from Forbes, it surely gives us an idea of how the risk-reward teams have to balance with their drivers’ salaries.

Although the younger drivers like Norris, Russell, and Leclerc have a lower earnings range, for now, they will look at their mate Max Verstappen’s growth. A good season with a potential stop at the championship and they will possibly demand a raise from their respective team bosses.