Cristiano Ronaldo, Jon Rahm, and Lionel Messi have topped Forbes’ highest-paid athletes list for 2024, but Formula 1’s biggest names—Max Verstappen and Lewis Hamilton—continue to cash in, earning more than the rest of the F1 grid combined.
According to Forbes’ annual earnings report, the top-earning athlete over the past 12 months was Cristiano Ronaldo, who banked a staggering $260 million, fueled by his Saudi Pro League contract and massive endorsement deals. Hot on his heels was golf star Jon Rahm, whose move to LIV Golf saw him rake in $218 million, while Messi’s contracts with Inter Miami and Adidas netted him $135 million.
Formula 1’s Financial Heavyweights: Verstappen & Hamilton Dominate
The highest-paid F1 driver? Max Verstappen, who secured $81 million—a whopping $76 million from Red Bull Racing and another $5 million from personal endorsements. That placed the four-time world champion at No. 17 on the Forbes list, making him the sport’s undisputed financial king.
However, Lewis Hamilton wasn’t far behind, pocketing $69 million—with $57 million from Mercedes and $12 million from his extensive endorsement deals. That ranked the seven-time world champion 21st overall, still firmly in the elite club of global sports earners.
The Verstappen-Hamilton Pay Gap with the Rest of the Grid
Heading into 2025, Verstappen and Hamilton’s earnings alone will exceed the combined salaries of the rest of the Formula 1 grid. With Hamilton’s high-profile move to Ferrari, he is set for an even bigger payday, while Verstappen’s long-term Red Bull contract ensures he remains among F1’s top earners.
Forbes reported: “In total, the world’s 50 highest-paid athletes hauled in an estimated $3.88 billion over the last 12 months before taxes and agents’ fees—up 13% from last year’s record mark of $3.44 billion.”
Much of this increase has been fueled by Middle Eastern investment into sports, particularly in football, golf, and Formula 1.
Breaking Down the Earnings Formula
Forbes’ calculations include:
✅ On-track earnings – Base salaries, bonuses, and prize money.
✅ Off-track earnings – Endorsements, sponsorships, licensing, and business ventures.
While 76% of total earnings ($2.94 billion) came from salaries and prize money, the remaining 24% ($936 million) came from off-field revenue, including lucrative sponsorships and endorsements.
The Big Picture: F1’s Growing Wealth
Formula 1’s surging global popularity has played a major role in boosting driver salaries, sponsorship deals, and prize money. Hamilton’s Ferrari switch, combined with Red Bull’s continued dominance with Verstappen, ensures both drivers will remain among the highest earners in sports for years to come.
With Netflix’s “Drive to Survive” bringing F1 to new audiences, the sport is no longer just an exclusive European motorsport—it’s a global financial powerhouse. And at the top of that food chain? Max Verstappen and Lewis Hamilton.
