“He’d Pay for Nothing”: Eddie Jordan Reveals the Frugal Side of Billionaire Bernie Ecclestone

From being arrested in Brazil for illegally carrying a gun to pleading guilty to a $492 million fraud, Bernie Ecclestone is one of the most polarizing figures in F1 history.

But behind the controversy, there’s actually a very shrewd businessman, who built a huge fortune by changing the face of F1 forever. With a $2.4 billion net worth, he never had to ask for much. Ecclestone could simply afford whatever he wanted.

Many would assume that he lives a lavish lifestyle.

However, former F1 team owner Eddie Jordan who spent a lot of time in the sport during Ecclestone’s 40-year reign, has made some startling revelations.

Ecclestone, according to Jordan, lived one of the most frugal lifestyles despite having it all. “He was notorious, he would pay for nothing,” the Irishman said on the Formula for Success podcast.

“We’d get the bus there (to Chelsea soccer club’s games). We’d take the bus back to number 14, outside the door. You can’t imagine the fortunes he’s got, but yet he just was so goddamn grounded“.

Ex-F1 boss Bernie Ecclestone has been sentenced to 17 months in prison, suspended for two years, after pleading guilty to fraud. pic.twitter.com/StO4P4Uejt

— Sky Sports F1 (@SkySportsF1) October 12, 2023

Imagine having such a fortune and still wanting to hoard every penny. That’s the kind of lifestyle Jordan revealed Ecclestone led.

Jordan also spoke about Ecclestone’s first wife, Slavica Radić, from whom the former F1 CEO divorced in 2009. He stated that the Croatian former model was one of the most humble people one could ever meet.

Ecclestone made most of his wealth through F1

Having founded the Formula One Group in 1987 and controlled its commercial rights until 2017, Ecclestone played a pivotal role in making F1 the pinnacle of motorsport. Today, it is one of the most closely watched disciplines in the world—something that wouldn’t have been possible without the foundations he laid.

He was a visionary who recognized F1’s commercial potential and made a concerted effort to globalize the sport. This led to F1 expanding into foreign markets, shifting its focus beyond Europe, the sport’s traditional stronghold.

The Briton eventually sold F1’s commercial rights to Liberty Media in 2017 in an $8 billion deal. It was a win-win for both parties, as Ecclestone likely secured a massive return on his initial investment after leading the sport for 30 years.

On the other hand, Liberty Media has formed strategic partnerships, such as its collaboration with Netflix for the Drive to Survive docuseries, which has significantly boosted F1’s popularity.

As of 2024, F1’s valuation had soared past a staggering $18.2 billion—more than double what Liberty Media paid to acquire the commercial rights in 2017.