In the wake of Lewis Hamilton grabbing headlines for being the richest sports person in Britain – for his fortune which is estimated to be around $150 million – we reveal the top earners in Formula 1.
On paper quadruple world champion Sebastian Vettel is the highest paid Formula 1 driver in 2016 with a record three year deal with Ferrari worth $150 million, excluding bonuses, which also makes him one of the highest paid sportsman in the world.
Next up is Fernando Alonso who signed record three year deal (2015-2017) with McLaren-Honda and has an annual salary of $40 million per year.
Hamilton has a three year deal with Mercedes worth $31 million a-year guaranteed salary, plus up to $10 million per annum in bonuses making him the third highest paid driver in the sport.
Jenson Button signed a one year extension with McLaren-Honda to remain with the team in 2016. The 2009 world champion is banking around $12 million a year, which is a pay cut compared to 2013 when he was earning $17 million a year.
Runaway championship leader Nico Rosberg, banks $15.5 million per year, which is almost a third less than his Mercedes teammate Hamilton.
Formula 1 2016 drivers contract details:
| Driver | Team | Annual Salary | Contract | |
| Sebastian Vettel | Ferrari | $50 million plus bonuses | 3 years (2015-17) | |
| Fernando Alonso | McLaren | $40 million including bonuses | 2 years (2015-17) | |
| Lewis Hamilton | Mercedes | $31 million plus bonuses | 3 years (2015-18 | |
| Kimi Raikkonen | Ferrari | $16 million including bonuses | 1 year (2016) | |
| Nico Rosberg | Mercedes | $15.5 million | 3 years (2014-17) | |
| Jenson Button | McLaren | $13 million | 1 year (2016) | |
| Daniel Ricciardo | Red Bull | $6.5 million a year | 1 year left (2016) | |
| Nico Hulkenberg | Force India | $5 million a year | 2 years (2016-17) | |
| Romain Grosjean | Haas | $4.5 million plus bonuses | 1 year (2016) | |
| Felipe Massa | Williams | $4.5 million a year | 1 year (2016) | |
| Valtteri Bottas | Williams | $3.5 million a year | 1 year (2016) | |
| Esteban Gutiérrez | Haas | $2 million | 1 year (2016) | |
| Sergio Perez | Force India | $2 million | Multi-year contract | |
| Kevin Magnussen | Renault | $900,000 | 1 year (2016) | |
| Jolyon Palmer | Renault | $900,000 | 1 year (2016) | |
| Daniil Kvyat | Red Bull | $850,000 | Unspecified | |
| Carlos Sainz, Jr | Toro Rosso | $650,000 | Multi-year contract | |
| Max Verstappen | Toro Rosso | $650,000 | Multi-year contract | |
| Felipe Nasr | Sauber | $450,000 | 1 year (2016) | |
| Marcus Ericsson | Sauber | $450,000 | 1 year (2016) | |
| Pascal Wehrlein | Manor | Unknown | 1 year (2016) | |
| Rio Haryanto | Manor | Unknown | 1 year (2016) |