Mercedes team principal Toto Wolff has recently opened up on the trauma he suffered 40 years ago during his childhood after his father passed away when he was just 15. The Austrian explained in a recent interview on BBC Sounds about how he had to take the responsibilities of the household at a very young age after his father was diagnosed with a brain tumor. Even though Wolff went through immense hardships, he believes that this is what made him stronger. The 51-year-old also revealed that it’s the same reason why Mercedes’ struggles at the moment do not affect him much.
When it comes to the Silver Arrows, it is fair to say that they have had a difficult time recently. This is because after dominating the turbo hybrid era (2014-21), they have just managed to win one race since then. However, Wolff believes that his teenage years have taught him well how to deal with such times.
Toto Wolff hopes no child goes through the same pain he went through
Toto Wolff began his interview on BBC Sounds by explaining how he had a fantastic relationship with his father, who he described as very “loving“. The Austrian then explained how everything seemed to change for the worse for him when his father was diagnosed with a brain tumor.
Since his father fell terminally ill, Wolff stated that he had to take over the responsibilities of the family. He explained how he looked after not only his sister but also his parents.
After stating the same, he revealed that the situation for him worsened even further when his parents divorced. Wolff made a reference to all the financial difficulties his family faced because of his father’s inability to work.
“We went into a small apartment. There were moments when my sister and I had to leave school in the afternoon because the tuition fees were not paid. So how do you explain to your friends that you have to pack your bags and go home? How do you explain that to your 10-year-old sister in the tram? And I have these moments in my mind so strongly, it’s like an imprint,” he explained.
After revealing all his difficulties, Wolff stated that he hopes that no child has to go through the same kind of pain that he went through. However, having gone through these struggles, he believes that it has helped him to make his determination strong and his resilience levels very high. It is this same mindset that he has also used to become a self-made billionaire.
Wolff has accumulated a staggering net worth of $540 million
Toto Wolff is by far the richest F1 team principal with a whopping net worth in excess of $540 million. Most of his net worth he has accumulated while serving as Mercedes F1’s CEO and team principal.
Via his role as the head of the Silver Arrows, he earns an annual salary of $26 million. The rest of his net worth comes from the $140 million he has in investments and the staggering $370 million worth of properties that he owns. Even though he has accomplished such success, Wolff is not complacent at all.
The Austrian understands how hard he has worked to attain the same and is willing to carry on his efforts to help Mercedes regain their position at the top in F1. Now only time will tell if the Silver Arrows can challenge the dominance of Red Bull or not.
