Toto Wolff $28,000,000 Richer as Mercedes Cashes in 9-Figure Check After Losing 2022 Championship

2022 was not all bad for Mercedes and Toto Wolff, as despite a dismal season on the tracks, the team made a hefty profit. For the first time, Lewis Hamilton failed to win a race in an entire season while the Mercedes team battled their cars’ porpoising issues throughout the season. However, it had little effect on the financial side of things as Wolff, Ineos, and Mercedes pocketed a decent amount as the season ended, as per Soymotor.

Toto Wolff owns one-third of the Brackley-based outfit, with the namesake automakers and Ineos equal partners in the venture. The post-tax profit for the 2022 season was over $109,500,000, with the three partners sharing $85,000,000 equally. As such, Wolff was at the receiving end of over $28,000,000 despite not having much success in F1.

Toto Wolff and Mercedes earned big in 2022

The budget limitations in F1 affect not only the investments a team can make each season but also the amount they can earn in the same window. Hence, there was a belief that no team can earn profits even if they dominate the season. However, Mercedes has shattered the belief, given their substantial earnings in 2022, despite finishing third in the constructor’s championship and securing only one race win.

Per a report by SoyMotor, the total earnings of Mercedes’ F1 operations went over $580 million. Sponsorship and Licenses (51%), FOM Income (30%), and third-party incomes (19%) make up for the huge sum Mercedes received at the end of the season. Of the $109.5 million profit, Wolff received a little over $28 million, while Mercedes and Ineos split the remainder equally, owing to their equal dividends.

Compared to 2021, the $580 million income was a 28% increase, primarily because there were no burdens of the Covid-19 restrictions. Furthermore, since the team was not the champion in 2022, they did not have to pay their staff bonuses, which ended up saving their money even more.

How Wolff became a Billionaire with the help of Mercedes and F1

Leading the Mercedes F1 team, Wolff has become one of the sport’s biggest entities. He has helped Mercedes secure eight constructor’s titles while also securing seven driver’s titles since 2014. When he first joined Mercedes, Wolff owned 30% of the team’s stake, which later grew to 33%. However, a one-third stake in Mercedes is not the sole reason behind Wolff’s rise to Billionaire status, as his business acumen played a huge role in the journey.

 

In 1998, Wolff founded a venture capital firm ‘Marchfifteen’ followed by a second firm, ‘Marchsixteen,’ in 2004. The Austrian’s entry into F1 came with him buying a stake in Williams Racing before moving on to Mercedes. Today, the 51-year-old is a stakeholder in Mercedes and Aston Martin.