Max Emilian Verstappen is a Dutch-Belgian race driver. He was the 2021 Formula One World Champion of the racing competition. With the fame he attained, did he have a wealthy family that paved the way for him?
Max Verstappen wasn’t born wealthy.
The race car driver has successfully built a name for himself in society. So, here’s how he rose to fame and built his wealth.
When did Max Verstappen start racing?
Max Verstappen started car racing when he was 17 years old in 2015. He was the youngest driver to join Formula One at the 2015 Australian Grand Prix. Red Bull Racing sponsored him to compete in the tournament under the Dutch flag.
Did Max Verstappen grow up in a family of racers?
Max Verstappen grew up among elite race car drivers like Jos Verstappen, his father. Max’s father was a Formula One driver with 17 career points during his time as a race car driver. Sophie Kumpen, Max’s mother, was a karting racer.
Is Max Verstappen from a wealthy family?
When Max Verstappen was a child, his parents divorced, and his father took custody of him. Even if his father was a Formula One racer, they still struggled to survive.
As Max got older, he decided to join Formula One, and in a short while, he made his mark. So, even if he didn’t receive financial assistance from his family to become a racer, he received emotional support.
When Max Verstappen joined Formula One, it was hard to get funding, considering his age and social status. However, he joined smaller racing contests until he was recognized by big organizations and brought into the limelight.
How rich is Max Verstappen?
Max Verstappen earns close to $54 million annually under his contract with Red Bull F1 Team. He became the highest-paid race car driver since he won Lewis Hamilton in a race.
After overtaking Lewis Hamilton at turn five of the final lap of the grand finale race, he became the 34th champion of the Formula One world drivers. He signed a five-year contract with REDBULL RACING in March from 2023 till 2028 after the win. The contract pays him $54 million annually through 2028.
He has an 11,000-square-foot luxury house in Monaco worth $40 million. Max Verstappen also has a Dassault Falcon 900EX private jet worth over $60 million, and he spent almost $6 million on the interiors.
The racer’s assets include 11 cars, five real estate properties, three luxury yachts, and a cash reserve of over $50 million. Max Verstappen also owns an investment portfolio of 12 stocks worth $25 million.
Besides his salary from Red Bull, he has several endorsement deals with different brands. Annually, his total income amounts to over $60 million.
How did Max Verstappen become rich?
Despite not being born rich, Max Verstappen still had the zeal to become rich. He loved racing as a young child since he spent more time with his father, Jos Verstappen, a Formula One driver.
Max Verstappen was inspired by his father and started racing when he was 17. He became the youngest Formula One driver in 2015. The racer joined the Italian team and campaigned with Scuderia Toro Rosso at the end of 2016, increasing his net worth.
Having served as a replacement for Daniil Kvyat in four races, Max Verstappen finally moved to the Red Bull Racing team, where he got paid $54 million per year.
With all these establishments and fame, he became the highest-paid racing driver in 2022.
What is Max Verstappen’s net worth?
Max Verstappen was worth $200 million in 2022. He garnered this amount from 12 stock investments and various brand endorsement deals.
Do all Formula One drivers come from wealthy families?
Getting a spot in Formula One is expensive because a standard race car costs between $200,000 to $400,000. This amount is not inclusive of repairs and maintenance.
So, getting into Formula One requires being from a family that’s wealthy enough to support—or getting an organization for sponsorship.
Many Formula One drivers are from wealthy families but to different degrees. For some like Sergio Perez, they didn’t have to clamor for sponsorship. Sergio’s father was a politician and businessman, so the driver gained support from him.
For drivers like Max Verstappen, he had to race in small tournaments from when he was 16. That decision helped him to become famous and recognized by Red Bull.
Even if Max Verstappen was not born rich, he could still acquire so much wealth as a race driver.