Mercedes team boss Toto Wolff has seen his earnings drop significantly in 2022. The Austrian's salary has fallen by more than 50 per cent, despite a top fiscal year for the Mercedes AMG F1 team.
BusinessF1 reports that Mercedes has been able to bring in $570 million in revenue in 2022, up 25% on 2021. This makes them the most financially successful team on the grid. This revenue is largely due to the 'Drive to Survive' hype that allowed the Brackley-based team to welcome many new sponsors.
Substantial prize money
For the first time, the team has disclosed where the revenue comes from. Just over half, over $291 million, comes from sponsors and licence fees. $171 million comes in as prize money. $108 million comes from other activities outside F1.
Millions less
Wolff's salary, on the other hand, went down. The team boss could credit 'only' $4.4 million to his account, as opposed to $8.2 million a year earlier. Toto, on the other hand, need not grieve, as a shared owner of the team, he still gets to distribute $30 million in dividends to investors and other partners and, of course, himself.