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F1 Driver Earnings: What Are the Salaries of Each Racer?

Below is a list of the projected earnings for each Formula 1 driver.

Max Verstappen continues to hold the position as the top-earning driver in Formula 1, based on estimates by RacingNews365.

These figures represent just the basic salary and do not account for additional earnings from bonuses for winning races, securing podium finishes, or sponsorship deals.

For many years, Lewis Hamilton was the highest-paid driver in Formula 1, but now Max Verstappen has surpassed him. Hamilton has recently joined Ferrari, and his numerous sponsorship deals are expected to significantly increase his overall earnings beyond his base salary.

Charles Leclerc has secured a new contract with Ferrari ahead of the 2024 season, positioning him as the third highest-paid driver.

Lando Norris has signed a new contract with McLaren in the early part of 2024, placing him as the fourth highest-paid driver, tied with Fernando Alonso.

At the lowest end of the salary range are the new Formula 1 drivers.

Jack Doohan and Isack Hadjar are the sole drivers believed to have salaries under $1 million.

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Mercedes Unveils Adidas Partnership: A New Era in F1 Fashion as Hamilton Era Ends

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Mercedes reveals new Adidas-designed uniforms to mark a fresh chapter after Lewis Hamilton

Mercedes introduces their 2025 Formula 1 team attire, featuring gear provided by Adidas.

Mercedes has unveiled an initial look at their latest team uniform designed by Adidas for the 2025 Formula 1 season.

On Thursday, Mercedes showcased their new official team uniforms and racing suits for the upcoming season, unveiling them in collaboration with the renowned German sportswear company.

George Russell and Andrea Kimi Antonelli, stepping in for Lewis Hamilton after his move to Ferrari, were photographed in the new team uniforms.

Last month, Mercedes announced a new collaboration with Adidas, calling it a "groundbreaking" partnership. This marks Adidas's initial entry into Formula 1, as they replace Puma as Mercedes' clothing provider.

Mercedes and Adidas state that the collection has been meticulously designed with unique cuts, advanced performance technologies, and tailored features to provide optimal support for every team member throughout race weekends.

In 2025, the competition kicks off in collaboration with @adidas. pic.twitter.com/OQBJZqIQIl— The Mercedes-AMG PETRONAS Formula 1 Team (@MercedesAMGF1) February 6, 2025

In 2025, the competition kicks off in collaboration with @adidas. pic.twitter.com/OQBJZqIQIl

The Leader 🐺 pic.twitter.com/wmu85AUX7Y— Mercedes-AMG PETRONAS F1 Team (@MercedesAMGF1) February 6, 2025

The Leader 🐺 pic.twitter.com/wmu85AUX7Y

Adidas product lead Bianca Mast expressed that the collection represents the result of intense effort and commitment from their design teams. It is designed to enhance the athletic performance of the entire team in all their activities, while also offering fans apparel they can wear with pride, whether they're out on the streets or cheering from the stands at races.

"We hold the view that sports should be accessible to all, regardless of the level, and motorsports is included in that belief. Partnering with the Mercedes-AMG PETRONAS F1 Team, we are thrilled at the opportunity to introduce the highest tier of motorsport to a fresh audience. We eagerly anticipate seeing our iconic three stripes featured in the paddock this season."

Russell expressed his thoughts on the updated appearance by stating, "Collaborating with a brand such as adidas is amazing for our team, as they genuinely comprehend the demands of performing at the top tier in sports."

"The team stands to gain significantly from their knowledge, skill, and meticulous approach. This could provide us with a competitive edge as we aim to secure race victories and championships, not just this season, but in the future as well."

Antonelli expressed his enthusiasm, stating, "We are thrilled to collaborate with adidas as a team. On a personal level, as I prepare for my debut season in F1, the experience feels even more extraordinary. I'm delighted to be partnering with an organization that genuinely comprehends the mindset of athletes."

"The initial occasion of donning the new uniform alongside my teammates is an unforgettable memory for me, and I'm eagerly anticipating the sight of fans in the stands sporting it as well."

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Eddie Jordan’s Brave Battle: F1 Legend Shares Chemotherapy Journey and Health Update Amidst Cancer Fight

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Eddie Jordan provides an update on his cancer fight.

Eddie Jordan offers new information regarding his ongoing struggle with cancer.

Eddie Jordan, the iconic leader of an F1 team, has shared that he is currently receiving chemotherapy treatment after being diagnosed with cancer affecting his prostate and bladder.

In late 2024, Jordan revealed on the Formula for Success podcast that he was fighting a "severe" type of cancer that had metastasized to his pelvis and spine.

Jordan, well-known for leading the Jordan Grand Prix F1 team between 1991 and 2005, is still fighting against it.

During the winter season, the Irishman is undergoing chemotherapy while staying in South Africa.

During the most recent episode of the Formula for Success podcast, Jordan shared news about his health: "I am currently undergoing a chemotherapy cycle. Today, as we record this episode, I'm feeling well."

"Let me emphasize this: everyone, please don't hesitate. Go for testing. I'll keep it simple and won't repeat myself endlessly. The truth is that survival odds are high. Excellent medical care is available worldwide today."

"The chemotherapy team appears to be well-organized. The experience in Cape Town has been excellent. Up to now, I've undergone four chemotherapy sessions."

"There's always a chance that it hasn't been fully addressed, so additional treatments might be necessary. While you wouldn't wish chemotherapy on your closest friend due to its unpleasant nature, the prognosis and future prospects are promising. A big thank you to the professionals in the medical industry."

Jordan, who is battling cancer, has been frequently spending time with Adrian Newey.

Jordan, who manages Newey, is spending some downtime in South Africa with the F1 design expert. Newey is currently on a break, known as gardening leave, as he prepares for his upcoming role with Aston Martin.

Jordan mentioned that his brief break or short period of leave for gardening is quickly nearing its end.

"He is currently in Cape Town with me. We're scheduled to have breakfast together tomorrow before he departs to start his stint with Aston Martin. He often visits this place as Amanda, his wife, hails from South Africa."

"They own a few houses and like spending time in the area. Occasionally, they bring their dogs here."

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Eddie Jordan’s Courageous Cancer Battle: Updates and Reflections from the F1 Legend

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Eddie Jordan provides news on his ongoing fight against cancer.

Eddie Jordan offers an update regarding his health as he continues to face cancer.

Renowned former F1 team principal Eddie Jordan has disclosed that he is currently receiving chemotherapy treatment after being diagnosed with cancer affecting his prostate and bladder.

In late 2024, Jordan revealed on the Formula for Success podcast that he was fighting a "severe" type of cancer that had metastasized to his pelvis and spine.

Jordan, well-known for leading the Jordan Grand Prix Formula 1 team from 1991 to 2005, is still engaged in the fight.

A man from Ireland is currently undergoing chemotherapy treatment while staying in South Africa during the winter season.

During the most recent episode of the Formula for Success podcast, Jordan shared news about his health status: "I'm currently undergoing a chemotherapy cycle. It coincidentally falls on the same day as our recording, and I'm feeling well."

"I urge everyone to not feel fearful. Please go and undergo testing. I'll keep my message brief because I don't want to sound repetitive. The truth is that survival odds are quite high. There is also excellent medical care available globally."

"Regarding chemotherapy, everything appears to be well-organized. The care I've received in Cape Town has been outstanding. Up to now, I've undergone four chemotherapy sessions."

"There's always the possibility that the treatment isn't entirely effective, so another round might be necessary. While no one would wish for their closest friend to undergo chemotherapy due to its unpleasant nature, the prospects and future remain promising. Thanks to the dedication of medical professionals, there is hope."

Jordan, who is battling cancer, has been frequently in the company of Adrian Newey.

Jordan, who manages Newey, is spending a break in South Africa with the renowned F1 designer. Newey is currently on gardening leave before starting his new role with Aston Martin, allowing them both to enjoy some downtime.

"Jordan mentioned that his brief break, his short leave to tend to the garden, is quickly coming to an end."

In Cape Town, he's currently with me. We're scheduled to have breakfast together tomorrow before he departs to start his new role with Aston Martin. He often visits here since Amanda, Newey's wife, is originally from South Africa.

"They own several houses and like to spend time in this area. Occasionally, they let their dogs come here too."

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Jean Todt Shares Heartfelt Update on Michael Schumacher During Regular Visits

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Jean Todt shares infrequent updates on Michael Schumacher following his consistent visits.

Jean Todt discusses his frequent visits to F1 legend Michael Schumacher.

Ex-Ferrari chief Jean Todt has shared uncommon details about his visits with Formula 1 icon Michael Schumacher.

Michael Schumacher, now 56 years old, has remained out of the public eye ever since he endured serious head trauma during a skiing incident in December 2013.

In September 2014, he was put into a medically induced coma and returned home to carry on with his recovery process.

The Schumacher family has maintained privacy regarding his medical status and has shared only limited information.

Only a limited number of individuals, such as his former Ferrari manager Todt, have been granted permission to see Schumacher.

The ex-president of the FIA served as the team leader at Ferrari when Schumacher was at his peak, securing five straight championship victories with the Italian team.

Todt mentions that he still frequently sees Schumacher.

In an interview with the Italian newspaper La Repubblica, Todt expressed his respect for the family's decision to refrain from commenting on Schumacher's health status.

"I frequently meet him and hold a deep affection for both him and his family. Our connection extends beyond our previous collaboration."

"It is an aspect of my life that is now quite distant from the world of Formula 1."

In a Netflix documentary released in 2021, Corinna, the wife of the seven-time world champion Schumacher, remarked that he is "not the same, but he is present."

"'Privacy is sacred,' he often remarked. It is crucial for me that he is able to maintain his private life to the greatest extent. Michael was always our shield, and now we are shielding him," she stated.

"We reside in the same house and participate in therapy sessions."

"We do all we can to improve Michael's condition and ensure he's at ease. Our goal is to help him sense the love and connection within our family."

"Regardless of the circumstances, I will put in every effort possible. All of us will. We are moving forward with our lives."

She mentioned that he continues to demonstrate his strength to her daily.

"We're attempting to continue functioning as a family unit."

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Pierre Gasly Sets Sights on Alpine’s Ambitious 2025 F1 Top-Five Finish: Is It Achievable?

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Pierre Gasly has outlined an ambitious objective for Alpine in the 2025 Formula 1 season, asserting that it is within reach.

Pierre Gasly has outlined a bold goal for Alpine, aiming for the team to secure a position within the top five in the F1 constructors' championship by 2025.

A French individual is confident that Alpine's goal is "within reach," despite the team facing significant challenges throughout the 2024 season. Initially plagued by a poor start and possessing one of the least competitive cars, Alpine managed to make promising advancements as the season concluded.

Throughout most of the year, Alpine was positioned in ninth place in the rankings. However, an unexpected double podium finish during a rainy and tumultuous Sao Paulo Grand Prix propelled the French team to sixth place, a position they successfully maintained.

Gasly expressed his determination at the Autosport Awards, saying he aims for a top-five finish in the constructors' standings, which he believes is well within reach.

"Deep down, I wish for more, but I have to stay realistic and understand that it will be a close and competitive field. I don't anticipate any major changes from last year."

How realistic is it?

At the conclusion of the previous season, Alpine secured 65 points, which was only seven points more than their closest competitors, Haas, and 29 points fewer than Aston Martin, who took a far-off fifth place.

From a competitive perspective, if Alpine can maintain a steadier performance throughout the 2025 season, securing fifth place is definitely achievable.

It is highly improbable to end up in front of any of the teams like McLaren, Ferrari, Red Bull, or Mercedes.

Mercedes concluded the previous year by securing four wins, amassing a total of 468 points, which placed them significantly ahead of Aston Martin by a margin of 374 points.

At present, it seems impossible to break into F1's leading group of four teams.

A fifth-place finish might be achievable if Aston Martin doesn't show considerable improvement, but a lot will hinge on how well Gasly's teammate, Jack Doohan, performs.

Pierre Gasly contributed 42 points to Alpine's total of 65 during the last season, while his ex-teammate, Esteban Ocon, added 23 points.

Ocon has become part of the Haas team, teaming up with the well-regarded F1 newcomer Oliver Bearman.

Haas appeared set to secure the sixth position in the constructors' championship until Alpine made a strong push towards the end of last year.

The performance of Gasly and Ocon, who are expected to consistently finish in the top 10, will significantly depend on how their rookie teammates perform.

For Alpine to surpass Aston Martin, it would require Lance Stroll to keep falling short in his performance, while two-time world champion Fernando Alonso continues to carry much of the responsibility for the team in 2024.

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Guenther Steiner Backs Sergio Perez as Key Asset for Cadillac’s 2026 F1 Debut

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Guenther Steiner points out a former F1 driver who might significantly assist Cadillac. "This driver consistently exceeded expectations when in a lesser team but struggled to handle the stress of being in a leading team."

Ex-Haas F1 team principal Guenther Steiner considers Sergio Perez to be an excellent choice for Cadillac in 2026, saying "he could provide significant assistance."

Cadillac is planning to enter Formula 1 as the 11th team on the grid in 2026.

Graeme Lowdon has been officially appointed as the team principal, and the team will continue using Ferrari engines through the end of the decade while General Motors works on developing their own engine.

When it comes to drivers, Cadillac has multiple excellent choices for the year 2026.

Perez's contract has ended as Red Bull has chosen to replace him with Liam Lawson.

Valtteri Bottas, who did not secure a position with Sauber, is now available, along with Zhou Guanyu.

In an interview with GP Blog, Steiner discussed the reasons why Perez would be a logical choice.

Steiner mentioned that Cadillac requires someone with experience. He pointed out that Checo has been part of numerous teams over the years and is well-acquainted with the industry. According to Steiner, Checo could provide significant assistance.

"Consider offering him a contract for just one year. This is a much better option than relying on older rookies. It's a chance for Checo."

Perez exceeded expectations despite being an underdog. Before his largely disappointing stint with Red Bull, he had established himself as a dominant force in the middle ranks of Formula 1.

The Mexican driver frequently achieved better results than expected, managing to secure several podium finishes while driving cars that were not considered top contenders.

Before becoming part of the Red Bull team, Perez was highly regarded, particularly after his victory at the 2020 Sakhir Grand Prix.

Considering the way Alex Albon and Pierre Gasly have regained their reputations after departing from Red Bull, Perez could experience a similar revival.

Steiner paused and said, "Hold on a second. I'm not trying to be cynical. He was leading the race grid last year."

"We have to be practical. Competing to earn a single point when the car's capabilities are limited is one scenario. However, it's an entirely different situation when you're striving for one point while your teammate, driving the same car, is securing victories. This creates a different mindset and introduces a unique kind of pressure."

"When Checo was with Force India Racing, later known as Racing Point, he performed exceptionally well."

"He consistently exceeded expectations when he was considered the underdog. However, he struggled to handle the stress associated with being part of a leading team. It seems that he finds his comfort zone when he doesn't have the burden of proving his worth through victories, which might actually be more beneficial for him."

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From Verstappen to Rookies: Unveiling the 2024 F1 Driver Salary Hierarchy

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F1 Driver Earnings: What Are the Salaries for Each Racer?

Below is a list of the approximate earnings for each Formula 1 driver.

According to estimates from RacingNews365, Max Verstappen continues to be the top-earning driver in Formula 1.

These figures represent the basic salary alone and do not account for additional earnings such as bonuses for winning races or securing podium positions, nor do they include income from sponsorship deals.

Lewis Hamilton, who was the highest-paid driver in Formula 1 for many years, is now earning less than Verstappen. He has recently joined Ferrari, where the backing from additional sponsors is expected to significantly increase his base salary.

Charles Leclerc has secured a new contract with Ferrari ahead of the 2024 season, positioning him as the third highest-paid driver on the team.

In the initial weeks of 2024, Lando Norris signed a fresh contract with McLaren, placing him as the fourth highest-paid driver, tied with Fernando Alonso.

At the opposite end of the salary spectrum are the newcomers to Formula 1.

According to estimates, Jack Doohan and Isack Hadjar are the only drivers making under $1 million.

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Lewis Hamilton’s Ferrari Adventure Begins: A New Chapter in F1 with the Scuderia

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Unveiled: Lewis Hamilton's Upcoming Role with Ferrari

Lewis Hamilton is preparing to embark on his inaugural Formula 1 season as a driver for Ferrari.

Lewis Hamilton spent two days testing Ferrari's 2024 Formula 1 car to gear up for his first season with the team.

The seven-time world champion took the wheel of Ferrari's SF-24 car for the first time this week in Barcelona during a Pirelli tyre test, aimed at assisting with the development of tires for F1's supplier for 2026.

Over the span of two days, Hamilton completed a total of 161 laps at the Circuit de Barcelona-Catalunya. He took turns driving with his new teammate, Charles Leclerc, in the Ferrari car. This vehicle had been adjusted to mimic the anticipated downforce levels set for 2026.

The length is more than twice the distance covered in two Spanish Grand Prix races.

This event was Hamilton's third time testing for Ferrari. The 40-year-old from Britain first appeared on the track for the legendary team last month, driving a 2023 Ferrari at their Fiorano test circuit, as part of their Testing of Previous Cars (TPC) program.

Lewis Hamilton took part in two testing sessions with Ferrari. Last week, he spent two days driving the SF-23 in Barcelona, but he experienced a crash on Wednesday.

Hamilton is scheduled to drive for Ferrari again on February 19, showcasing their new car for the 2025 season.

Ferrari is set to reveal their SF-25 model just a day following the F175 season launch, which takes place at the O2 Arena in London on February 18. They plan to conduct a preliminary shakedown run of the car, allowing both Hamilton and Leclerc to test it out.

Hamilton and Leclerc are scheduled to travel to Bahrain for the official Formula 1 pre-season testing, which will take place from February 26 to 28.

Fred Vasseur, the head of the Ferrari team, has already shared some preliminary information regarding their 2025 racing car.

Vasseur mentioned that they would discover whether it will be competitive during the pre-season testing in Bahrain.

"Often, you only recognize the risks you're taking once it's too late. The vehicle will be entirely redesigned, with fewer than one percent of the components being the same as those in the 2024 model. It's a distinct endeavor, yet this situation is the same for all involved."

"While it's uncertain whether 2025 will be our breakthrough year, I have confidence in the ongoing project. It promises to be as demanding as the recently concluded endeavor."

"I'm extremely pleased with how we managed challenges throughout 2024, but we need to make progress in achieving greater consistency."

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Rising Tensions at Alpine: Colapinto and Doohan Go Head-to-Head in Crucial Barcelona Test

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Franco Colapinto faced off against Jack Doohan during an Alpine testing session. It marked Colapinto's debut test with Alpine at the Barcelona track.

On Wednesday, Franco Colapinto had his initial session with Alpine at the Circuit de Barcelona-Catalunya.

Flavio Briatore, who serves as an executive advisor for Alpine's F1 team, shared a video on his Instagram. The footage captures Colapinto stepping out of the A523 at the racetrack in Spain.

Alpine joined Ferrari and McLaren at the Barcelona circuit for Pirelli tire testing.

Alpine is maximizing their use of TPC (testing of previous cars) mileage, but the team has not released any information about how Colapinto or Jack Doohan performed during the tests, so specific details remain unknown.

Nonetheless, Briatore was eager to highlight Colapinto, noting that his lap times are expected to be measured against those of Doohan.

Since Colapinto serves as a reserve driver, there are no restrictions on how much distance he can cover driving a previous model of an F1 car.

Each of the 20 drivers in the competition is restricted to a total distance of 1000 kilometers throughout the year.

Could Colapinto make a mark?

Doohan is poised to begin the season as Alpine's regular driver, partnering with Gasly.

It is generally anticipated that if the Australian does not achieve the desired outcomes, Colapinto will assume his position.

Colapinto made a significant impact in his initial races with Williams, stepping in for Logan Sargeant midway through the 2024 season.

Despite a messy conclusion to the season filled with mistakes and a well-publicized large buyout clause, teams like Red Bull lost interest.

At the beginning of 2025, Alpine introduced Colapinto as their reserve and test driver. However, with speculation that Briatore might not be satisfied with Doohan, a mid-season change seems likely.

Briatore has no hesitation in making tough decisions when it comes to replacing drivers, especially concerning the team's second driver.

In Barcelona, Doohan and Colapinto had the opportunity to familiarize themselves with the pace, whereas Alpine had earlier organized a test at Paul Ricard to evaluate both Doohan and Mick Schumacher.

Doohan caught the attention of Alpine and was selected for the 2025 spot instead of Schumacher.

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Ferrari’s Reversal: Leclerc Outpaces Hamilton in Barcelona Pirelli Test

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Ferrari Experiences Transformation with Newly Released Lewis Hamilton Lap Times

Lap Times for Lewis Hamilton and Charles Leclerc Disclosed on Wednesday

The lap times from Lewis Hamilton and Charles Leclerc's second Pirelli testing session on Wednesday have been disclosed.

Oscar Piastri from McLaren was present in Barcelona on the last day to assist the official tyre provider for Formula 1.

On Tuesday, Hamilton taunted the Ferrari fans by clocking a faster time than their drivers, but the situation changed the following day.

On Wednesday, Leclerc emerged as Ferrari's quickest driver, clocking a top time of 1:14.971 and completing 74 laps.

Piastri completed a lap in 1 minute and 15.815 seconds, and he managed to complete 74 laps in total.

Hamilton completed a total of 152 laps, with his fastest lap clocking in at 1 minute and

On Wednesday, Hamilton was 0.9 seconds slower than Leclerc and was 0.8 seconds off his fastest time from the previous day.

It's important to keep in mind that each driver followed a unique schedule, so their lap times should be considered with some skepticism.

Pirelli set up the schedule for the drivers from Ferrari and McLaren.

Mario Isola from Pirelli stated that the session was highly beneficial, especially in offering a comparison of the various constructions for the next season.

"In addition to testing certain compounds from the more challenging spectrum."

The Barcelona track is renowned for being tough on tires due to the high levels of energy and wear they experience. As a result, the data collected during these two intensive days will play a crucial role in advancing the development of this tire generation.

The beginning of the year is particularly challenging, with four test sessions scheduled before the season officially kicks off. I appreciate all the teams collaborating with us, as we understand how hectic their schedules are right now.

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Carlos Sainz Trusts His Instincts in Bold Move to Williams: Lessons from McLaren’s Rise Inform His Decision

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Carlos Sainz followed his gut feeling when deciding to join Williams, drawing parallels with McLaren. "Ultimately, these two factors convinced me to have faith in Williams and become part of the team."

Carlos Sainz has disclosed that his experience with McLaren influenced his choice to sign with Williams, acknowledging that he had to rely on his intuition.

Carlos Sainz is set to join the Williams team for the 2025 season following the loss of his position at Ferrari, which

The Spanish driver had multiple teams interested in him for the next season, despite being passed over by both Mercedes and Red Bull.

According to reports, Alpine showed interest in Sainz for a longer-term contract, and there were already connections to Audi prior to Hamilton's surprising announcement.

Sainz decided to join Williams as he was convinced by James Vowles’ strategic plan for the team and the advancements being made internally.

During his initial trip to the Williams factory located in Grove, Sainz discussed his choice to become part of one of Formula 1’s legendary teams.

In an interview with Vowles on the Williams YouTube channel, Sainz expressed that the immediate future was not his main focus when he faced making such a crucial decision.

"I concentrated on figuring out which team would have the advantage in speed by 2025. I wanted to know which team was developing more downforce and who was discovering new ways to enhance their speed. In the end, I understood that my choice needed to revolve around two main factors: the project and the individuals involved."

"When I began having more in-depth conversations with James, it became clear to me that he had developed a robust project at Williams."

He was assembling a group with a clear vision and plan alongside Dorilton, which I believe will propel this team to the forefront. His strong leadership and compelling vision instantly made me enthusiastic about the project and confident in his guidance.

Sainz draws parallels to McLaren

Before joining Ferrari, Sainz had a two-year tenure with McLaren.

While at Woking, McLaren made significant advancements in the rankings, securing fourth place in 2019 and improving to third place in 2020.

Carlos Sainz believed that McLaren had the potential to become world champions after he departed from the team, a prediction that was realized in 2024.

He continued by emphasizing that ultimately, it's all about the people involved. Reflecting on his departure from McLaren, he expressed his belief that there were truly talented individuals within the team, and he was confident they had the potential to become world champions one day.

"Last year, McLaren secured the world championship, prompting me to think, 'Alright, I should follow my gut feeling.' I am aware that Williams has a strong plan in place. They possess the necessary support and have talented individuals on their team."

"Ultimately, the blend of these two factors convinced me to put my faith in Williams and become a part of your team."

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Ferrari’s Record-Breaking Year: Employee Bonuses, Electric Ambitions, and Hamilton’s Historic Move

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Ferrari employees have received a €14,400 bonus following a year in which the company achieved unprecedented profits.

Five thousand Ferrari employees received a bonus of €14,400 each following the Italian luxury automobile manufacturer's higher-than-anticipated profits in 2024.

On Tuesday, ANSA reported that Ferrari's CEO, Benedetto Vigna, revealed an increased bonus amounting to €900 more than the €13,500 distributed in 2023.

This development follows a 21% increase in Ferrari's net earnings in 2024, reaching €1.53 billion.

In 2023, Ferrari experienced its most profitable year to date.

Due to their substantial earnings, Ferrari plans to update their goals for 2025.

In the course of the announcement, Vigna revealed that this year would see the introduction of six new Ferrari models, among which will be Ferrari's inaugural electric vehicle.

"We've always discussed adding electric options rather than completely transitioning to them," Vigna stated.

"We are not abandoning one option for another; instead, we are introducing the fully electric vehicle alongside our existing thermal and hybrid models. We are moving forward according to our original plan."

The Ferrari Formula 1 team has gained a significant advantage with seven-time world champion Lewis Hamilton joining them for the 2025 season.

Ferrari's stock value surged over 10%, reaching an all-time high on the New York Stock Exchange following the surprising announcement of Hamilton joining the Scuderia in February.

This led to a nearly $7 billion rise in the value of Ferrari's company.

The surge in Ferrari's market value underscored the broader effects of Hamilton's choice to leave Mercedes after a 12-year tenure and become a part of Formula 1's legendary team.

Hamilton is deeply involved in a comprehensive pre-season testing schedule with Ferrari as he prepares to make his debut with the team at the grand prix season opener in Australia on March 16.

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