Toto Wolff is regarded as one of the most successful F1 bosses, having led Mercedes to eight Constructors’ Championships. He once also opened up to reveal what separates him from others.
Speaking about this, Wolff said in a report published by New Yorker back in 2022, “The other team principals, and I don’t mean this in an arrogant way, are incentivized for performance only.”
College dropout and self-proclaimed ‘academic loser’ Toto Wolff will share the secrets of @MercedesAMGF1‘s historic success in a Harvard Business School course next winter.
That’s awesome! ️ pic.twitter.com/EJc2TK9ZYi
— Vincenzo Landino (@vincenzolandino) May 2, 2023
Wolff arrived at Mercedes as the Executive Director of the team after he left Williams in 2013. From there on, he has seen success after success until 2021.
Apart from this, he also owns 33% of the Mercedes AMG F1 team. Moreover, with other shrewd investments as well, he is now a billionaire. Therefore, even if has to take a pay cut, it will not be an issue for him.
Toto Wolff took a pay cut in 2022
Since Toto Wolff is responsible for helping Mercedes achieve success, he also has to pay when they fail to meet their objectives. As a result, since their 2022 campaign did not go well, he took a pay cut.
However, for a billionaire like him, it is unlikely to affect him much. Moreover, thanks to Netflix’s Drive to Survive, the average valuation of every F1 team has skyrocketed and Mercedes now stands in the top three. Despite the tough days, Wolff is here to stay for long and has his future in the team secured, unlike Ferrari and its bosses.
