Formula One is a sport where talent and skill are highly valued. However, it is no secret that some drivers have had better opportunities than others due to their background and family wealth. In recent years, several drivers have made their way to the pinnacle of motorsport with the support of their wealthy families.
While it’s true that money can open doors, it’s up to the driver to prove themselves on the track. Take a closer look at which F1 driver comes from the wealthiest family, and who are the top 5 drivers that come from privileged backgrounds. From their junior careers to their current positions in the sport, explore the paths these drivers have taken and if money is the only reason they reached the highest level of motorsport.
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1. Lance Stroll
Lance Stroll is unquestionably the driver from a rich family. Lawrence Stroll, his father, is a prominent Canadian businessman with a net worth of $2.9 Billion as of February 2023. He is a part-owner and executive chairman of Aston Martin, as well as the owner of the Aston Martin F1 team, which his son races for. Stroll invested in Tommy Hilfiger and Michael Kors, assisting their rise to global prominence. He also controlled the Circuit Mont-Tremblant in Canada until August 2022.
Stroll has quite helped his son, Lance Stroll, in his career as a Formula One driver. He led a consortium of investors to buy the Force India Formula One team and renamed it Racing Point Force India, with Lance driving one of the cars. In 2021, the team was re-branded as the Aston Martin F1 team, with Lance still driving for them. Lawrence’s influence and investment in the team led to the signing of Fernando Alonso for the 2023 F1 season. Despite his success, Stroll remains grounded and is known for his love for collecting Ferraris and other supercars. Despite his father being a multi-billionaire, he put impressive showings in his junior career that paved his way to F1. He dominated the F3 championship against the likes of George Russell, Callum Illot, and other renowned quick drivers.
2. Logan Sargeant
Logan Sargeant is from one of America’s richest families. Although his father is not affluent, his uncle, Harry Sargeant III, is a big Republican contributor and former Florida Republican Party finance chairman. According to a Pentagon assessment, Sargeant overcharged the federal government on military gasoline contracts by up to $204 million. He is also well-known for his friendship with former Florida Governor Charlie Crist and his contributions to Republican politicians such as John McCain and Rudy Giuliani. Sargeant has an estimated net worth of $1.4 billion.
Despite coming from a rich family who bankrolled him in his junior career days, he did make a mark of his own in those days. Logan Sargeant began karting at a young age and quickly showed promise, winning multiple national championships. He transitioned to single-seaters in 2015 and progressed through the ranks, eventually landing in the prestigious FIA Formula 3 Championship in 2019. Sargeant has impressed with his speed and consistency, finishing third overall in the championship. The following year, he stepped up to the highly competitive FIA Formula 2 Championship, where he showed further growth and potential. Sargeant is now an F1 rookie, who replaced another driver, Nicholas Latifi, who was also from a wealthy family.
3. Lando Norris
Adam Norris, Lando Norris’ father, is the genius behind Pure Electric and was the CEO of the firm until his retirement. A financial industry heavyweight, Norris is worth over £200 million, with his stake in Hargreaves Lansdown accounting for a large chunk of his fortune. After retiring at the young age of 36, Norris became a passionate investor, with his company Horatio Investments investing over £100 million in various startup companies.
Adam Norris also takes an interest in areas that fascinate him, such as Formula 1, equine sports, and commercial property. But Norris is more than just a wealthy entrepreneur. He is a loving father who played a crucial role in his son Lando Norris’ love for racing. Despite having certain advantages, such as access to top-of-the-line equipment and expert coaching, Lando had to work hard to establish himself on the track.
Lando’s junior career was nothing short of remarkable. He won the MSA Formula Championship in 2015, the Toyota Racing Series in New Zealand in 2016, and the European Formula Three title in 2017. Some have questioned his achievements on the track as being solely due to his father’s wealth, but Lando’s talent, hard work, and dedication have undoubtedly propelled him to the top ranks of motorsport.
4. Max Verstappen
The Dutchman has had a fantastic career and is now a young sensation. Max Verstappen started racing at the age of 17 and became the youngest F1 race winner in less than a year. His father, former Formula One driver Jos Verstappen, has been a driving force behind the defending champion’s success, although in some harsh ways. Max’s career illustrates that it is not simply his father’s money that has propelled him to success.
Jos Verstappen, a Dutch former Formula One driver, made his debut in 1994 as a substitute for the injured JJ Lehto at Benetton. After racing for various teams, he left Formula One. He competed in other racing series, winning the LMP2 class of the 2008 24 Hours of Le Mans and clinching the LMP2 Drivers’ title and LMP2 Manufacturers’ title. Verstappen’s net worth is $10 million. He is married to Belgian ex-kart driver champion Sophie Kumpen, whose cousin is NASCAR Whelen Euro Series racing driver Anthony Kumpen. Jos Verstappen has been coaching his son Max Verstappen. As an F1 driver, Max has since become the 2021 Formula One World Champion. Jos has also served as Max’s manager.
5. Carlos Sainz Jr.
The father of Carlos Sainz Jr. Carlos Sainz Sr., is a Spanish rally driver who won the World Rally Championship drivers’ title in 1990 and 1992 with Toyota and finished second four times. As constructors’ world champions, he has also aided Subaru, Toyota, and Citroen[3]. Carlos Sainz Sr., widely known as “El Matador,” is the father of Carlos Sainz Jr., a Formula One racing driver. His net worth is reported to be in the $5 million range. Sainz Sr. is married to Reyes Vázquez de Castro, and they have two children, one of them is Carlos Sainz Jr.
Despite his father being a successful racing driver and a millionaire, Sainz Jr. has never made it seem like he is F1 because of his dad. Carlos Sainz Jr had a successful junior career before entering Formula One. He won races and podiums in both British and Euro Series Formula 3 championships in 2012 and also scored two podiums and two pole positions in Formula Renault 3.5 in 2013. He joined DAMS in 2014 and won three races, extending his championship lead. Sainz Jr made his Formula One debut for Scuderia Toro Rosso in the 2015 season and later switched teams to Ferrari, where he became a race winner. Despite coming from a wealthy family, he worked his way up on his own merit.
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