Home » Lewis Hamilton makes $55 million in 2023 becoming F1’s second-highest-paid driver

Lewis Hamilton makes $55 million in 2023 becoming F1’s second-highest-paid driver

Hamilton's resurgence reflects not only on the racetrack but in his paycheck, as he secures a $55-million salary

by Omokolade Ajayi
Lewis Hamilton

In a comeback from his sixth-place finish in 2022, British Formula 1 (F1) icon and Mercedes-AMG Petronas driver, Lewis Hamilton showcased a remarkable resurgence in the recently concluded season, elevating himself to third place.

The fruits of his performance are impressive, with Hamilton commanding a formidable $55 million in salary for the 2023 season — becoming F1’s second-highest-paid driver. This represents a departure from the usual trend for Hamilton, who consistently held the title of the series’ highest-paid star in Forbes’ annual athletes’ earnings ranking for an impressive decade.

However, Max Verstappen now claims the top spot for the second consecutive season. Verstappen’s stellar prowess on the track is mirrored in his financial standing—boasting staggering total earnings of $70 million in the 2023 F1 season, according to Forbes.

Hamilton’s F1 legacy: Seven-time champion’s unrivaled journey from McLaren to Mercedes dominance

Standing shoulder to shoulder with racing legend Michael Schumacher, Hamilton, a seven-time champion, has made a name for himself in F1 history. His career kicked off with a championship win with McLaren in 2008 — setting the stage for a relentless pursuit of excellence.

What sets Hamilton apart is his exceptional achievements under the Mercedes banner. The Briton’s six additional titles in 2014, 2015, 2017, 2018, 2019, and 2020 exemplify an era of dominance seldom witnessed in the sport.

With a total of 103 career race wins, Hamilton not only surpasses Schumacher’s record of 91 wins but leaves Sebastian Vettel trailing with 53 victories. His track record speaks volumes, solidifying his position as the most successful driver in F1 history.

Notably, from 2014 to 2021, Hamilton consistently finished either first or second in the season standings, except for a narrow loss to Max Verstappen in 2021. However, Verstappen repeated as the champion in 2022 and the 2023 season.

Diversifying beyond the track: Lewis Hamilton’s call for creative ventures

In recent times, Hamilton has called for diversifying interests beyond racing when discussing his career. He admitted, “I can’t race forever, and it’s good to have other things that you can be creative and tap into because you can’t be thinking about racing 24/7; it will drive you out of your mind.” 

Also, on the importance of creative endeavors, his commitments in recent times, including the Apollo project and the production of a F1-themed movie, demonstrate expansion into business ventures outside the sport.

With the end of the 2023 F1 season, Hamilton has seen his career earnings surge above $510 million. Attaining this financial milestone elevates Hamilton to a select group of athletes whose career earnings surpass $500 million. Estimates suggest that his career earnings may surpass the $600 million mark by 2025, coinciding with the end of his present contract extension.

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