Formula 1: The highest-paid drivers in 2024

Formula 1 is a sport known for its glitz and glamour, with billionaires funding teams as a passion project and drivers cruising around Monte Carlo in multi-million dollar sports cars, there's no shortage of money in the sport. For some drivers, however, there's more money in than for most... All figures are sourced from Racing News 365. There are no reliable figures for replacement drivers, so we have left the original drivers in their places for now.

At the bottom of the list, we will start with the salaries of Logan Sargeant (Williams) and Yuki Tsunoda (Visa Cash App RB), both of whom earn $1 million per year (€924,285; £792,250).

Four drivers are being paid twice as much, at $2 million apiece: retired Daniel Ricciardo (Visa Cash App RB), Nico Hülkenberg (Haas), Lance Stroll (Aston Martin) and Guanyu Zhou (Stake).

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Alex Albon (Williams) earns three times more than his team-mate Logan Sargeant with an annual salary of $3 million.

Next in line is 31-year-old Dane Kevin Magnussen, who earns an annual salary of $5 million at Haas.

The lowest paid French driver in Forbes' ranking is Esteban Ocon, with the Alpine driver earning $6 million a year.

Three drivers earn $8 million annually: Frenchman Pierre Gasly (Alpine), Oscar Piatri (McLaren) and George Russell (Mercedes).

Valtteri Bottas (Stake), 34, is the first driver in our ranking to reach the $10 million per season mark.

Carlos Sainz, who has been racing for Ferrari for 4 years, will pocket no less than $14 million in the 2024 season.

Moving up the ladder by $1 million, Lando Norris earns $15 million a year at McLaren.

Sergio Pérez, Red Bull's second star driver, is paid $16 million by his team. While certainly impressive,  that's considerably less than his teammate Max Verstappen.

The headliner at Ferrari, Monegasque Charles Leclerc, is one of the best-paid drivers in the world, with a salary of $19 million.

A true F1 legend, Fernando Alonso (Aston Martin) still earns a very good living at the age of 42, with a salary of no less than $24 million.

Reigning world champion and Red Bull star Max Verstappen is the second-highest paid driver, with a salary of $45 million.

The highest paid driver of the season is none other than seven-time world champion Lewis Hamilton, who at the age of 39 pockets $55 million a year.

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There are staggering differences between the salaries of Formula 1 drivers, which can be explained by their prestige in the sport, although some are less successful than others who are paid considerably less.