The figures are staggering: Formula 1 drivers' salaries revealed

Formula 1 is one of the most elite sports, with only 20 drivers competing at the top level. To reach this point, drivers must undergo a long and expensive journey, starting with karting, which can begin as early as age four.

It’s no surprise that the biggest names in the sport, like Lewis Hamilton and Max Verstappen, earn staggering amounts. However, Hamilton ranks only second on the list, earning $45 million per year from Mercedes, which is $10 million less than reigning world champion Verstappen, whose income amounts to $55 million.

Verstappen also earns significant sums from endorsement deals with brands like EA Sports and Heineken. Charles Leclerc of Ferrari ranks third on the list with a salary of $34 million, after signing a long-term contract with the Italian team. The salary gap between teammates is also worth noting.

Here’s the full list of base salaries for Formula 1 drivers in 2024, provided by Sportrac:

• Max Verstappen (Red Bull Racing) — $55 million
• Lewis Hamilton (Mercedes) — $45 million
• Charles Leclerc (Ferrari) — $34 million
• Lando Norris (McLaren) — $20 million
• George Russell (Mercedes) — $18 million
• Fernando Alonso (Aston Martin) — $18 million
• Sergio Perez (Red Bull Racing) — $14 million
• Carlos Sainz (Ferrari) — $12 million
• Valtteri Bottas (Stake F1 Team) — $10 million
• Daniel Ricciardo (Visa Cash App RB) — $7 million
• Esteban Ocon (Alpine) — $6 million
• Pierre Gasly (Alpine) — $6 million
• Oscar Piastri (McLaren) — $6 million
• Kevin Magnussen (Haas F1) — $5 million
• Alexander Albon (Williams Racing) — $3 million
• Lance Stroll (Aston Martin) — $3 million
• Nico Hülkenberg (Haas F1) — $2 million
• Guanyu Zhou (Stake F1 Team) — $2 million
• Yuki Tsunoda (Visa Cash App RB) — $1 million.