Mercedes team principal Toto Wolff is reportedly now worth $1.6 billion, with the staggering figure having increased by 60% since March this year.
The update on Wolff’s net worth has come from Forbes, who have also revealed that Mercedes are also worth significantly more.
When Liberty Media bought F1 in 2017, the Silver Arrows were valued at just over $1 billion; they’re now worth a reported $3.8 billion.
This is where some of the increase in Wolff’s net worth has come from, with him holding a 33% stake in the Brackley-based team.
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Wolff and Mercedes are clearly both making a substantial amount of money despite their current struggles, which have seen the team claim just one win since the start of the new aerodynamic regulations in 2022.
The new regulations and the budget cap do appear to have impacted the Germans, who aren’t allowed to spend extreme amounts in pursuit of Red Bull.
The budget cap has actually made Mercedes more profitable though, with Forbes reporting that the side are set to produce post revenues of $700 million, with their operating income expected to come in at $192 million for this year.
Mercedes are certainly still generating plenty of income, with Wolff believing that F1 are “continuing to outgrow other industries”.
“Our business is pretty predictable on the income streams,” Wolff told Forbes in May.
“It’s a really good value proposition, and I generally believe that non-scripted content sports are crisis resilient, and if we do a good job in promoting it and providing a good show, which we are part of designing together with Liberty, we are continuing to outgrow other industries.”
The Silver Arrows head to the Hungaroring this weekend for the Hungarian Grand Prix, where they claimed their most recent pole position 12 months ago.
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George Russell secured his first pole position in F1 at the Hungarian GP last season, before Max Verstappen went on to win the race.
Russell finished the race in third behind team-mate Lewis Hamilton, who’s claimed victory in Hungary eight times.
Whether Hamilton can claim a ninth win in Hungary this weekend remains to be seen; however, the odds aren’t in his favour.