$540 Millon Worth Toto Wolff and Wife Susie Cite “Security Issues” as A Reason For Relocating to Tax Haven Monaco

Formula 1 racers have a liking for the Mediterranean Principality of Monaco. Dozens of drivers would be found in the principality, walking around like normal citizens, and the most recent additions to the list are Toto and Susie Wolff.

Toto and Susie moved to Monte Carlo in 2016. The Wolffs are joined by familiar faces from the F1 grid like Daniel Ricciardo, Nico Rosberg, Lewis Hamilton, Max Verstappen and more who relocated to the city-state

Monaco has always been a favourable residence for the super-wealthy due to its relaxed tax laws. Citizens don’t have to pay income tax, something the $540 Million Net Worth Mercedes team Principal might have considered.

 

But the Wolffs cite a peaceful life and better education for their child as one of the main reasons for relocating south.

Also Read: Susie Wolff Claims Toto Wolff Once Compared Her With a Donkey

Toto Wolff on relocating to Monaco due to ‘Security Issues’

Toto and Susie Wolff got married in 2011. Toto is a part-owner and Team Principal of the Mercedes F1 team. While partner Susie was a former racing driver and recently headed Mercedes’s Formula E team.

The Wolffs currently reside in Monaco and have a 5-year-old son, Jack. Toto cited that it was a joint decision he took along with his wife before relocating to Monaco.

The Austrian stated, “We moved to Monaco because we had a security issue in the UK. And also because we wanted to educate our son in an international school.”

Wolff usually spends 9-10 months, travelling around the globe with his team for races. But during the off-season, he reports for work at Mercedes’ facility in Brackley.

Wolff lives in Oxford, about 20 miles from Brackley. He usually travels back home during weekends as many parents do. At Oxford, the Austrian leads a pretty simple life with most of his time spent at his office.

He shared, “I like being in Oxford and I like working. I tend to stay in the office until 8 PM, then go to the gym in the evening, have dinner, read a book and go to bed.”

Also Read: “Number one is Susie Wolff marrying me”: Mercedes boss rates his marriage as bigger achievement than winning 8 World Championships

Spending time with family gives the greatest pleasure to Wolff

Despite tasting dominance in F1 for 8-consecutive years, Toto Wolff believes his family is his treasure. The Austrian says he derives his greatest pleasure by spending time with his family back home in Monaco.

He says, “Having the family together is what gives me the greatest enjoyment. And with my wife, I have found the perfect partner.”

Toto has 2 children from his first marriage. With his marriage with Susie, He has a 5-year-old Son, Jack. But Toto asserts finding a partner like Susie is his biggest accomplishment.

He adds, “My wife can drive cars faster than I do. But that is the least of her attributes. We are total soulmates.”

Susie was a former racing driver herself and had even tested F1 cars with Williams. She became the first woman to take part in a Formula One race weekend in over 20 years when she drove the Williams Fw36 during FP1 of the 2014 British Grand Prix.

Also Read: Toto Wolff believes he has done ‘more harm than good’ to his wife’s racing career