Why Do 70% of F1 Drivers Live in Monaco?

Lando Norris recently announced his shift to the wonderful principality of Monaco. Ready to pack his bags up for the move in winter, Norris isn’t the first driver to do this. With a long lineage of drivers living in the municipality, what is it about Monaco that lures drivers towards it?

Monaco is known as the Billionaire’s playground for good reason. With the massive incomes they receive, it’s no surprise F1 drivers make their way to Monaco. With a lavish lifestyle of glitz and glamor, the Monte Carlo seems ideal.

Why do F1 drivers set up tent in Monaco?

Considering the fact that F1 drivers travel a lot, the weather in Monaco is perfect. With hot summers to take the yacht and jet skis out and mild rainy winters to enjoy; Monaco has the perfect climate for most drivers. Additionally, the coastal regions are full of entertainment, making it a great spot to spend hot summer months.

Further, the sport is mostly Europe-centric and many teams have their HQs set up on the continent. The central location of Monaco also proves helpful in this aspect. Drivers frequently head back home between race weeks as well.

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The tax laws of Monaco are a big bonus. Drivers don’t have to pay any income tax, wealth tax, or capital gains tax. Therefore, the money they earn from salaries and sponsorship remains unaffected. Everything you earn, you keep.

Who lives in Monaco?

Upcoming resident Lando Norris aside, there is a long list of Monegasque residents. First, a Monegasque through and through, Charles Leclerc lives in Monaco. Former teammates Daniel Ricciardo and Max Verstappen are neighbors, while current teammates Lewis Hamilton and Valtteri Bottas have their own places. Antonio Giovinazzi and Sergio Perez also find themselves on the list.

However, it doesn’t end there; Le Rocher has been a part of F1 for many years. Champion David Coulthard shares localities with 2022 Williams driver, Alex Albon. Adding to the list of champions are Mika Hakkinen, Nico Rosberg, and Jenson Button.

Surely, the parties must be extremely fun in Monaco, however, the convenient location, pleasant weather, and exciting lifestyle seem reason enough to be there.

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