Michael Schumacher will go down as one of the greatest Formula 1 drivers in the history of the sport. The German shattered records in his career driving for Jordan, Benetton, Ferrari, and Mercedes. Schumacher clinched 155 podiums, scoring 1566 points. This also includes a whopping 77 fastest laps. He has grabbed 68 pole positions as well as numerous other records. His 7 World Championships came in 1994, 1995, 2000, 2001, 2002, 2003, and 2004. This record is currently tied with current Mercedes driver Lewis Hamilton.

The 7-time World Champion was also one of the highest-paid drivers on the grid during his time.

The Career of Michael Schumacher

Schumacher earned £16 million from his Ferrari contract, which rose to around £30 million in 1999. After taking a break from the sport in 2006, the 53-year old returned joining Mercedes in 2010. His salary with the Silver Arrows was estimated at nearly 30 million pounds as an annual salary. The deal included a basic salary of £21m, plus £9m in private endorsements. His endorsements included clothing brands Navy Boots, DVAG, Rosbacher among others.

His net worth is estimated at a whopping $650 million in 2022. However, after his skiing accident in 2013, his family has had to sell some of his belongings.

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How do Max Verstappen and Lewis Hamilton’s Salaries Compare To Schumacher’s?

Mercedes star Lewis Hamilton earned $62 million on the track in 2021. It includes a $55 million base salary, as well as a $7 million race, win bonus. His current deal is expected to be until 2023, with an estimated £80 million in earnings. The 37-year-old is nearing the end of his career but will hope to reclaim his World Championship for a record-breaking 8th time.

Meanwhile, Red Bull has confirmed new world champion Max Verstappen will be part of the team till 2028. The contract extension is reported to be worth $55 million a year, putting him on par with his rival at Mercedes. Verstappen became the youngest F1 race winner at 18 years and 228 days. He made his debut with Toro Rosso in 2015, before moving to Red Bull the following season.

Moreover, F1 also introduced a spending cap of $145 million per team in 2021 and $135 million by 2023. With the sport becoming a global phenomenon, driver contracts have reached new heights in Formula 1. So, expect the rich drivers to get even richer.

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