Billionaire Worth 6 Times More Than Lewis Hamilton Looks To Make F1 Breakthrough

Calvin Lo, a billionaire from Hong Kong, is set to make a grand entrance into the world of Formula 1 as he plans to establish his very own team. With a net worth six times that of Lewis Hamilton, Lo is prepared to demonstrate his financial prowess in the rich man’s sport.

As an enterprising titan in the life insurance industry, Lo has his sights set on a substantial investment in F1 in the upcoming years. His ambition knows no bounds, and he is determined to make a significant impact on the racing scene.

Although he refrained from disclosing the specific teams in question, he made it clear that he has no intention of participating in either the Andretti Cadillac team, which is expected to be entirely American or the Hitech Grand Prix team- setting his vision on bringing a larger Asian presence to the grid.

A new F1 aspirant enters the scene

Calvin Lo’s $1.8bn fortune, earned from a business catering to top-tier life insurance clients, has fueled his passion for the world of F1. As the sport gears up for new regulations in 2026, Lo is ready to take on the challenge of bankrolling a team.

His unwavering interest in F1 and his desire to make a meaningful impact in the industry are the driving forces behind his decision to venture into this new territory. Bringing his immense wealth to a sport driven by money, Lo is poised to shake up the racing world and leave his mark on the track.

While money isn’t the problem, he reveals what is holding him back. “It’s actually gathering all the expertise … the mechanics, the whole team together into one unit.”

The billionaire revealed that he is in discussions with a team that has already submitted its application, while another is working behind the scenes towards the same goal. Taking a patient and measured approach, Lo is carefully scrutinizing the reports and numbers to ensure that any investment made is sustainable for the long term.

Lo & Lewis Hamilton share one vision

In a similar vein to Lewis Hamilton, Lo’s vision for the future of Formula 1 includes promoting diversity in the sport. He is eager to introduce a stronger Asian presence in F1 and is actively seeking sponsors from the continent.

Additionally, he is contemplating establishing an academy in his home city of Hong Kong to cultivate and nurture the skills of aspiring individuals, both as drivers and in various behind-the-scenes roles. Lo’s ambitions extend beyond merely financing a team, and his long-term goals involve making a meaningful contribution to the sport by enhancing its inclusivity and accessibility.

The dreamer had crossed paths with the F1 champion before and had also discussed the impact he had on the F1 grid. “I don’t know him personally, Like every driver on the grid, every one of them is incredible sportspeople…”

Bringing a fresh perspective on what it means to be a fan, he also added, ” a real fan should appreciate the driver and the whole team. Lewis Hamilton is obviously one of the best drivers in history. But in general, these F1 workers in the pitlane can be idols for many people.”

As F1 once again preps itself to welcome another team to the grid, will Lo face the same turmoils thrown at Andretti?