One of the most dominating teams on the grid, the Mercedes-AMG Petronas F1 Team, has painted the tracks silver over the years. With talent in drivers like Lewis Hamilton and Valtteri Bottas, the team has set the bar of greatness high on the grid. But who holds the reins to the historical team?

A popular name on the paddock, Toto Wolff is the CEO and team principal of the Brackley team. Although the team’s ownership is equally split between three entities, Wolff remains the one who directly controls the operations of the team.

Mercedes’ big three

In December 2020, Mercedes announced the restructuring of its ownership. INEOS, a British chemical manufacturer, became a one-third owner shareholder in the team. To create three equal partners, Daimler, the parent company, reduced its 60% and Wolff increased his 30% to accommodate Sir Jim Ratcliffe, CEO of INEOS Group, in the ownership structure.

This makes Ola Kallenius, Sir Jim Ratcliffe, and Toto Wolff the co-owners (all 33%) of the Silver Arrows. The new shareholding structure also allows Wolff to continue his role as Team Principal and CEO for the next three years; after which he can explore new executive functions within the company if he wants to.

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Wolff made a statement regarding the new partnership: “This new investment from INEOS confirms that the business case for Formula One teams is robust and sends an important signal of confidence in the sport after a challenging year.”

“I am excited to welcome Jim, Andy, and John to the team as co-owners: they have built one of the most profitable companies in the world…In parallel, it is a privilege to continue my partnership with Ola, Markus Schäfer, and Mercedes-Benz for the coming years.” 

Wolff concluded, “We are proud to have added to the brand’s prestigious motorsport heritage since 2010 and we share the ambition to grow the organization further in the years to come.”

Why Do Mercedes Dominate F1?

Toto Wolff- the leader of the pack

Under Wolff’s leadership, the team has become the most successful F1 team in the sport’s history. With humble beginnings in Vienna, the Austrian had a brief career in motorsport. Torger Christian Wolff dropped out of the Vienna University of Economics and Business to start his own venture-capital firm. Through this, he made high-profile deals in the early 2000s.

Toto and Hans-Werner Aufrecht co-owned HWA AG, the engineering company behind one of the most successful racing programs. He later divested the state in 2015 and created a driver management company with champion Mika Hakkinen. Having acquired a stake in the Williams team, Wolff made his entry into f1 in 2009. He became the executive director of the team in 2012.

The board of Daimler AG asked Toto Wolff for an analysis of their F1 team. Later, Wolff acquired a 30% stake with the team along with Niki Lauda. He also took over as the head of Mercedes Benz Motorsport.

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