Since the start of the turbo-hybrid era in 2014, no team in F1 has been more successful than Mercedes. The Silver Arrows have won eight constructors’ world championships since that year, and Toto Wolff was a key figure behind driving this success. Along with his star driver Lewis Hamilton, Mercedes became an unstoppable force in F1 between 2014 and 2020.
Wolff is extremely passionate about his role as team principal of the Mercedes-AMG Petronas F1 team. In multiple interviews, we have heard the Austrian reiterate just how much the team means to him, and that is one of the most important things in his life.
In season three of Drive to Survive, Wolff also admitted that even though he thinks of leaving F1 because of the sport’s busy schedule, being in charge of Mercedes always makes him want to come back. Wolff, however, has had a long journey to the top of the pinnacle of motorsport, and not a lot of it has been easy.
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Toto Wolff’s childhood and introduction to racing
Today, Toto Wolff is one of the wealthiest people in motorsports with an estimated net worth of CHF 1.25 billion but he does not come from a very rich family. In spite of losing his father at a very young age, his entrepreneurial mind was key to him making money for his family off innovative ventures.
His first encounter with the world of racing came when he was 17 years old and he traveled to the Nürburgring to watch one of his friends compete. He fell in love with motorsports, and with help from others, climbed his way up to Formula 4.
Unfortunately for him, racing on the track wasn’t one of his strengths, so he decided to pull the plug on it quite early. However, that did not make him give up his dream of making it big in the world of motorsports.
Wolff’s journey to becoming Mercedes boss
Wolff’s racing career was not promising enough to help him pave his way into F1, but his strong business mindset was. After making money off non-racing ventures, Wolff found a spot in the F1 paddock in 2009, when he became a shareholder at Williams F1 team.
He rose up the ranks to become executive director of the team was the man in charge when the British outfit, last won an F1 race in 2012. A year later, he joined Mercedes as executive director and this turned out to be a move that would change the course of history in F1.
After acquiring Hamilton from McLaren in 2013, the Silver Arrows dominated the sport for almost a decade, breaking records that are set to stand for years to come. However, looking at Wolff’s passion for the team, many have wondered if he has stakes in the team that makes him want to be so involved in every aspect.
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Does Toto Wolff own Mercedes?
Wolff has done a tremendous job as team principal of Mercedes, but that is definitely not his only role at the Brackley-based outfit. The 51-year-old is also the CEO and holds a 33% stake in the team.
Back to business (school) 💼
Toto returned to @HarvardHBS last week with @Susie_Wolff for a Q&A and talk led by Professor @anitaelberse. 😊 pic.twitter.com/k5BOTOdpqu
— Mercedes-AMG PETRONAS F1 Team (@MercedesAMGF1) October 26, 2022
It is clear that Toto Wolff is committed to leading Mercedes for a long time, and considering the amount of success he has brought to the German team, it is likely that he will step aside on his own terms, when he feels it is the right time to do so.
His current contract as team principal/CEO of Mercedes F1 team runs out at the end of the year. However, there have been no signs that point towards his departure from the team whatsoever.
