Has Max Verstappen Dethroned Lewis Hamilton As the Highest Paid Driver in F1 After His New Contract?

Lewis Hamilton and Max Verstappen are two of the best F1 drivers on the grid right now. They are currently the leaders of the pack in terms of performance and pure pace. The pair are also two of the highest-paid drivers in F1 currently and rack up millions for their performances for their teams.

Hamilton had been the leader of the sport for quite a while. The 7-time world champion is arguably one of the greatest drivers in F1 history and is certainly recognized all over the world for his talents. He is consistently been one of the highest-paid athletes in the world for some time now.

WATCH STORY: F1 Driver Salaries Revealed: How Much Do Lewis Hamilton & Co. Earn?

How much does Lewis Hamilton earn in a year?

The Mercedes driver is one of the most sought-after athletes in the world. Since surpassing Fernando Alonso in 2014, the British driver has been the highest-paid driver in the sport.

As reported by Talk Sport, the 7-time world champion earns a salary of $40 million a year with additional bonuses.

Aside from annual earning racing for the German team, Hamilton endorses recognized brands such as Tommy Hilfiger, Gran Turismo Sport, Bell Helmets, MV Agusta Motorcycles, Monster Energy, Pune, IWC, Sony, Bose, Petronas, etc. It is reported that Lewis gets around $12 million from endorsements throughout the year.

Hamilton lost the championship to Max Verstappen in the 2021 champion. But it looks like not only did Lewis lose the title of the best driver on the grid but soon he will lose the title of the highest-paid driver as well to Verstappen.

How much does Max Verstappen earn?

The Red Bull driver, Max Verstappen made a name for himself in the sport with his aggressive, straightforward, and no-nonsense approach to driving.

Verstappen earned $18 million from his annual salary last season with additional bonuses of $12 million, taking his yearly earnings to $30 million. But after he became a world champion at the final race of the season, Verstappen became the best driver on the grid.

He has a contract with Red Bull that runs till the end of the 2023 season. But recently he signed a new contract after his championship-winning season which meant that he will stay with the team till 2028.

How much will the 2021 world champion earn from 2022 onwards?

By signing his new deal with the Austrian team, Verstappen becomes the highest-paid driver in the sport. According to Express, he will earn $40 million, the same amount as Hamilton going forwards. The 7-time world champion’s contract with Mercedes expires at the end of next season, which effectively makes Max the highest-paid driver in F1.

READ MORE: Lewis Hamilton’s net worth: Is he a billionaire?