Mercedes Formula 1 boss Toto Wolff received a significant financial boost after the German team paid out a £125 million ($168 million) dividend to shareholders, on the back of a strong commercial and on-track performance in 2024.
Wolff, who holds a one-third stake in the Mercedes-AMG Petronas Formula 1 Team alongside Mercedes-Benz and INEOS, saw his share of the dividend contribute to a personal fortune now estimated at $1.8 billion.
The Austrian joined Mercedes in January 2013 as Executive Director, acquiring a 30% stake, and has since become Team Principal and CEO. That means he is due around a cool $56-million.
According to financial disclosures reported by BVM Sports, Mercedes enjoyed a banner fiscal year in 2024, with revenue climbing 16% to £636 million ($856 million), up from £546.5 million in 2023. Net profit jumped nearly 50% year-on-year, reaching £120.34 million ($161 million), compared to £83.8 million ($113 million) the previous year.
The team’s on-track success contributed to the financial growth. A second-place finish in the 2023 Constructors’ Championship brought increased prize money, while four race wins and five podiums in 2024 added to its commercial appeal.
Toto's leadership is central to Mercedes’ era of dominance
Mercedes also confirmed plans to reinvest in its infrastructure, with two new buildings scheduled for completion at its Brackley headquarters in 2025, aimed at expanding operational capacity and improving long-term competitiveness.
Since taking over from Norbert Haug as Head of Mercedes-Benz Motorsport in 2013, Wolff has overseen the most successful period in the team's history. Under his leadership, Mercedes won eight consecutive Constructors’ Championships from 2014 to 2021 and seven Drivers’ titles—six with Lewis Hamilton and one with Nico Rosberg.
Wolff is known for fostering a no-blame culture and demanding continuous improvement, key pillars in building one of F1’s most formidable operations. In 2020, he increased his ownership share to 33% and signed a three-year extension. In 2024, he renewed his contract again through 2026.
Despite setbacks under the post-2021 regulation changes and a controversial 2021 season finale, Wolff has steered Mercedes back into contention, with renewed success on track and a clear vision off it for the future.
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