Taxman takes big chunk of Horner's $108-million Red Bull payout

The 51-year-old, former Red Bull stalwart, who left the team in July after two decades in charge, is expected to hand over £35,986,500 ($48.6m) to HMRC. The calculation assumes that almost the entire payout falls into the Additional Rate 45% tax band. Horner’s gross settlement was £80,000,000 ($108m), with taxable income of £79,970,000 ($108m).

While such settlements are generally exempt from National Insurance deductions, Horner’s personal allowance would be immediately exceeded, meaning the vast majority of the settlement from Red Bull is taxed at the top rate. His final take-home sum is estimated at £44,013,500 ($59.4m).

Before this deal, Horner’s net worth was estimated at £40,000,000 ($54m). Even after tax, his wealth more than doubles, taking him close to £85,000,000 ($115m). That surpasses the reported £31,000,000 ($42m) fortune of his wife, former Spice Girl Geri Halliwell.

However, Horner remains some distance behind Mercedes boss Toto Wolff, who Forbes reported became a billionaire in 2023 and is now valued at £1,270,000,000 ($1.7bn).

Analysts noted that the money claimed by HMRC from Horner’s settlement is equivalent to funding the training of 537 new nurses for the National Health Service.

The tax burden highlights the scale of Horner’s severance package, which has more than doubled his fortune despite a near £36m ($48.6m) contribution to the Treasury.

Since Horner's departure from the team, Laurent Mekies has overseen the team since and under his watch, Max Verstappen has won the last two races at Monza and Baku.