Updated 10:33 PM EST, Thu, Nov 21, 2024

Michael Schumacher Update & Latest News: Driver Remains F1’s Wealthiest

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No accident nor disability can scrap Formula One (F1) racer Michael Schumacher's name from the wealthiest racers in the field. In fact, he still remains on top with an estimated net worth of US$780 million.

Wealth-X, a global authority on wealth intelligence which provides sales, marketing, strategy and compliance solutions to clients, released on Tuesday, the Top 10 richest F1 drivers of all time. PR Newswire said the list included active and retired car drivers.

The seven-time world champion, who is currently recovering from serious head injuries sustained during a ski accident in December 2013 at the French Alps, bested nine others as his wealth is 43 percent of the combined net worth of all the racers on the list. Schumacher last competed for Mercedes in 2012.

Despite the high costs of his medical bills which earlier reports claim have eaten up most of his earnings because of his slow recovery, Schumacher has proven that he remains wealthy with enough money to spend.

But an earlier Daily Mail report said Schumacher was forced to sell his Norwegian mountain holiday home for £2million which will reportedly be used by his family to build a "hospital" room for the racer in Switzerland.

The 6,940-square-foot has been owned by the racer since the 1990s. Daily Mail said he used it a base for his skiing trips with his family.

Following Schumacher in the list of richest F1 racers is Spanish F1 driver Fernando Alonso who is racing for McLaren-Honda. The International Business Times (IBT) said that he has an estimated $220 million net worth. Next to Alonso is Finnish Ferrari racer Kimi Raikkonen with $180 million earnings.

Coming in fifth is current world champion Lewis Hamilton with a fortune of $110 million. IBT said Hamilton opened the 2015 season with a deserving victory last weekend at the Australian Grand Prix.

Meanwhile, Mercedes racer Nico Rosberg who placed second in last year's world championship was the tenth on the list with $30 million net worth.

PR Newswire said the youngest driver included in the list is is 27-year-old Sebastien Vettel with a personal fortune of $45 million while the oldest is 60-year-old retired Frenchman Alain Prost with $70 million net worth.

Below is Wealth-X's Top 10 richest F1 drivers as provided by PR Newswire:

Rank

Name

Current team*

Net Worth**

Status

1

Michael Schumacher

Mercedes

780

Retired

2

Fernando Alonso

McLaren

220

Active

3

Kimi Raikkonen

Ferrari

180

Active

4

Eddie Irvine

Jaguar

180

Retired

5

Lewis Hamilton

Mercedes

110

Active

6

Jenson Button

McLaren

100

Active

7

Alan Prost

Williams

70

Retired

8

David Coulthard

Red Bull

70

Retired

9

Sebastian Vettel

Ferrari

45

Active

10

Nico Rosberg

Mercedes

30

Active

With the release of this list, people will surely wonder if Schumacher will remain on top after a year of intensive therapy and medication for his injuries. His family has been very silent about his current conditions, keeping the media and the entire public out of the loop.

An earlier Telegraph report indicated that his recovery could take three years. Dr. Jean-Francois Payen, who is part of Schumacher's medical team, reportedly confirmed that the racer made "some progress" but his road to recovery is still long.

"I have seen some progress but I would say give him time. It's like other patients, we are in a timescale that ranges from one year to three years, so it takes patience. Life after a brain injury is littered with stages. It must progress, we hope, but we must give him time," Payen was quoted as saying.

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