“I Really Needed the Money”: Richest F1 Team Boss Toto Wolff Recalls Mortifying Gaudy Job Before Acquiring His Billions

You know Toto Wolff as this charismatic Team Principal under whom Mercedes have won eight consecutive F1 championships. Being an investor in the Mercedes AMG Petronas F1 team, he has made a fortune. But do you know of the humble beginnings of this billionaire F1 mogul?

In an interview given to Sky Sports F1’s Simon Lazenby in 2018, Toto reflects on the tough times he overcame before becoming who he is now.

Toto’s modest upbringing

Torger Christian “Toto” Wolff, or as we know him, Toto Wolff, was born into a family of limited means. His father died while he was still a young teenager, and financial means were scarce, as he recalled in the interview. In a city where he saw money around him, but not much at home, it was difficult. He had to get himself into some odd jobs that were “embarrassing”.

Looking back on those trying times, Toto said, “I had to wear a golden cape, I painted my face gold and I had to give away leaflets for the local electronics shops.”

“It was so embarrassing because people recognized me. I remember that was really bad, but I pushed through, I really needed the money.”

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While he is a successful entrepreneur now, he considers himself “lucky” to work where he enjoys his two passions- motorsport and finance.

Toto Wolff recalls how he got into finance

Toto believes that his stumbling upon finance was a coincidence. He says, “finance was a coincidence because I got to set up a little company and one of our main customers was going into bankruptcy. The only way of saving our outstanding debt was actually acquiring the company.”

“I was pretty young, I was 25 or 26, and this is how I started to have an interest.”

“Back in the mid-to-late 90s, the internet came out and I was in the US for a month or two, and it caught my interest, Netscape, America Online, and I went back to Europe and started to invest tiny little money or shares for consultancy into these technical companies.”

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There are tough times for team Mercedes. The new regulations have left them struggling for pace. But now, knowing how Toto is capable of overturning adversities, the next Drivers’ Championship and Constructors’ Championship could be as far as next season.