Sebastian Vettel Earns the Highest Prize Money in Formula One

According to a study from Forbes, Ferrari driver Sebastian Vettel is the highest-earning racer in Formula One. Back in 2018, the annual prize money was around $913 million. While the actual sums are kept under wraps, the method of calculation was made known.

At least 47.5% of Formula One’s profit goes into the sport’s prize money to be distributed among 20 drivers and 10 teams. In 2013, Forbes revealed to ESPN that a further 7.5% is distributed among the top 3 teams.

This bonus is calculated on the basis of race one in the past four years before the 2012 season. It is also known as the Constructors’ Championship Bonus (CCB) fund and it is worth at least $100 million annually. Scuderia Ferrari is also privy to another 5% of the profit, as it is the oldest Formula One team.

With regard to driver performances, their ranking and team prize money is based on the team’s performance as well as an individual driver’s dominance over his teammate. So, Sebastian Vettel earns a lion’s share of $511 million with rival, Lewis Hamilton earning $449 million.

Sebastian Vettel has had the second longest Formula One career, along with Lewis Hamilton in 2007. However, since Hamilton’s then team, McLaren were embroiled in an espionage scandal, their prize money was taken away.

Hamilton has also been beaten in the championship on two occasions, firstly, in 2011 to Jenson Button. Secondly, there was the 2016 season when Nico Rosberg beat him to the title. Sebastian Vettel was only beaten once, by Daniel Ricciardo in 2014. A year after his debut, Sebastian Vettel took a shock win and scored 89% of the points for Toro Rosso.

However, that soon dwindled as he came up against more competitive teammates in later years. Interestingly, in the performance department Nico Hulkenberg is the highest non-championship winning driver. Kimi Raikkonen is the longest serving driver, having raced since the 2001 season, though he took a two year sabbatical.