Wolff sells portion of shareholding in deal that values Mercedes at £4.6bn
Photo: Race Pictures
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A filmmaker with a soft spot for Ronnie Peterson, Gilles Villeneuve, Mika Hakkinen and above all, Tazio Nuvolari and Ayrton Senna, is also a diehard Formula One fan since the age of 4 (mid-90's). An avid researcher of the past of Grand Prix Racing since before it was even named F1, and with a thirst for knowledge of the ins and outs of the actuality of the sport, as well as for the technical aspects that define it, is a member of GPblog since 2023, where he has put his love of racing to good use.
Toto Wolff has completed the sale of a portion of his stake in Mercedes F1 team.
"He understands both the demands of racing and the realities of building and scaling technology businesses. That combination brings specific insight that is increasingly relevant to the future of Formula One."- Toto Wolff.
Toto Wolff walking in the Singapore paddock - Photo: Race Pictures
The acquisitor, George Kurtz is CEO and founder of CrowdStrike - an official Mercedes partner since the 2019 season - and a 24 hours of Le Mans winner.
In his new role as shareholder he will take the position of Technology Advisor after having purchased a 15% of Wolff’s shareholding -which valued the team at £4.6bn - who nevertheless will remain the controlling entity of the third of the team’s stake, that sees Kurtz join the Austrian CEO and team principal, INEOS and Mercedes-Benz at the table.
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Kurtz will be Mercedes' new Technology Advisor
Mercedes celebrated the American entrepreneur as an “accomplished endurance racer and globally respected business leader,” clarifying that Kurtz’s new functions would entail helping to “support the team's innovation and technology strategy, with a focus on the intersection of competitive motorsport, data analytics, and performance.
“He will also work to grow the team's ecosystem across the U.S. and global technology sectors, and to secure competitive advantage and investment from new tech partners.
"Winning in racing and cybersecurity requires speed, precision, and innovation. Milliseconds matter. Execution counts. Data wins," said Kurtz.. "Technology is reshaping competitive advantage and human capability everywhere, including motorsport. I'm excited to help the team securely accelerate forward."
image credit: RacePictures
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Wolff commented on the significant contribution the CrowdStrike founder and CEO will make for the team: "George's background is unusual in its breadth: he's a racer, a loyal sporting ambassador for Mercedes-AMG, and an exceptional entrepreneur.
"He understands both the demands of racing and the realities of building and scaling technology businesses. That combination brings specific insight that is increasingly relevant to the future of Formula One."
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