Toto Wolff, Mercedes F1 Team Principal, is a wealthy man. He has a 33% stake in the ownership of the F1 team. Moreover, Mercedes is second on the list of most valuable teams in Formula One. Under the leadership of Toto Wolff, Mercedes ruled the grid from 2014 to 2021. The team won eight constructors and seven driver’s championships. This hegemony really helped in the booming growth of Toto Wolff’s net worth. Even in 2021, understandably, Mercedes was among the top two most valuable teams. Very few teams in the history of the sport have such a long and unbeaten streak at title glories. But every good things come to an end at some point.
That’s what happened with the Brackley team from last year. However, it seemed like things started changing after Red Bull’s Max Verstappen stole the Driver’s World Championship away from Lewis Hamilton in the 2021 Abu Dhabi Grand Prix. It marked the change in power on the Formula One grid. The whole status of Mercedes changed in two years, from the indomitable champions to a struggling team. Despite this massive slump of the team, how did the net worth of Toto Wolff grow 60% more?
Despite Team’s Slump, Toto Wolff Saw A 60% Increase In His Net Worth
The simple reason is the team’s valuation. According to Forbes, the booming growth of Mercedes F1 makes the team’s worth $3.8 billion valuation. Hence, the business side of the team is growing pretty well. Moreover, Toto Wolff, Mercedes’s parent company, and Ineos have 33% ownership stakes. This 33% was worth a little more than a billion dollars two years ago. Hence, Forbes suggests Toto Wolff was worth $1 billion in March. Lately, the team’s business helped in the 60% increase. Now the estimated net worth of Toto Wolff is $1.6 billion. Other than Mercedes, several F1 teams have seen similar growth. The average value of the ten teams in Formula One has become $1.88 billion.
Moreover, it is a massive growth compared to 2019. The ten teams have seen a massive 276% increase in these four years. However, Ferrari leads the list over Mercedes narrowly. The Italian team’s estimated value is $3.9 billion. There are a couple of factors that helped the teams and the sport to have such financial growth. At first, the Netflix docuseries, Drive To Survive increased the sport’s popularity worldwide, especially in the USA. Moreover, this show attracted viewers hungry for content, especially during the pandemic. Secondly, the cost cap era that brought all these budget restrictions helped maintain the economic balance.
Even Though F1 Teams Struggle To Get A Win, Wolff Believes Providing Good Show Can Help In Their Business
Moreover, Toto Wolff told Forbes that their business in terms of income is pretty predictable. Wolff believes that non-scripted content sports are resilient to crisis. If the teams are able to design together with Liberty, promote the sport well and provide good shows, then eventually, Toto Wolff feels they will outgrow other industries. After 2013, Red Bull is back on top, thanks to the ruthless and the most competitive racer ever, Max Verstappen.
Since then, Mercedes has been struggling with their car to get back to winning ways. In the last two years, including 2023, the German team managed to win only once in Sao Paolo, Brazil. Moreover, in the current season, there have been few races when teams other than Red Bull have proved to be faster than Mercedes. The challenges for Mercedes are rising as teams like McLaren and Aston Martin are emerging as threats for Toto Wolff’s team to take second place.
