“His Arrival Is a Good Thing for the Brand”: Ferrari CEO Praises Commercial Viability of Lewis Hamilton

Lewis Hamilton’s on-track success, coupled with his off-track activities, has made him the biggest name in F1. With over 39 million followers on Instagram and more than 8.5 million on X (formerly Twitter), no driver is more marketable than the Briton.

Now that he has joined the most successful team in F1, which boasts over 17 million followers on Instagram, immense traction was inevitable.

It came as no surprise that Hamilton‘s announcement of moving to Ferrari led to a 9% increase in the company’s stocks in 2024. Experts like Matt Elisofon from the Red Flags podcast believe that a $400 million investment in Hamilton is an absolute steal. “It’s already paid for itself and then some,” he said.

Hamilton has already justified why the Maranello-based outfit went all out for him financially, a sentiment shared by Ferrari CEO Benedetto Vigna.

Ferrari’s stock is up 10% today on the back of a positive earnings report and news that Lewis Hamilton is leaving Mercedes to join the company’s Formula 1 team.

This news has added $10 billion to Ferrari’s market cap — and the stock is now trading at an all-time high. pic.twitter.com/IT6IQzmMJQ

— Joe Pompliano (@JoePompliano) February 1, 2024

Vigna sees the value Hamilton is likely to add to his brand and stated in a recent interview, “Hamilton? His arrival is certainly a good thing for the brand. In any case, he will be a great pairing with (Charles) Leclerc“.

It’s not just Hamilton’s on-track results that are likely to help Ferrari grow their brand, but also his massive popularity. The Briton is the perfect driver to promote Ferrari’s products, and it seems he has already begun doing so.

Italian journalist Piergiuseppe Donadoni claimed that Hamilton and Leclerc have already posed for photos in the factory to promote Ferrari’s first electric car, set to be launched in Maranello on October 9. Ferrari seems to have provided the perfect teaser for their fans, as Vigna refused to disclose any further details about the electric car.

All he said was that it would be launched “in a unique and innovative way.” Hamilton would be the ideal driver to help Ferrari promote an electric vehicle (EV), as EVs align with his vision for the future.

In his mission to reduce carbon emissions as much as possible, he mentioned in an interview back in 2020, “I don’t drive any of the cars that I own anymore. I only drive my [electric Mercedes] EQC.” Very soon, that is likely to be replaced by a Ferrari.