After a bright start to Alex Albon‘s Formula 1 career before a sabbatical following his brutal time as Max Verstappen‘s Red Bull teammate, the Williams driver has rebuilt his reputation in Grove – and his bank balance reflects that fact.
Williams handed Albon a lifeline when they offered him a contract for 2022, after his year on the sidelines, but he quickly paid them back replacing George Russell as team leader following the Brit’s move to Mercedes.
Albon crushed Nicholas Latifi in the intra-team battle after an impressive start to his Williams career, scoring points in two of his five races in 2022 despite an uncompetitive FW44.
And Williams moved quickly to lock down Albon for the immediate future, announcing a multi-year extension that also came with a decent pay rise.
How much will Alex Albon earn in 2023?
For the 2023 Formula 1 season, Alex Albon is set to pocket an impressive $3 million. This figure, while substantial, places him in the mid-tier of F1 earners, roughly reflecting his status in the sports’ pecking order.
Surprisingly, this is almost exactly the same as Albon earned in his one full season at Red Bull, despite battle for wins and podiums in 2020.
However, it’s still a notable step up from his first Williams salary in 2022 which was just over $2 million.
Valtteri Bottas and Kevin Magnussen will both earn higher salaries than Albon in 2023 despite the Thai outperforming both drivers on the track.
However, once his deal expires at the end of next season Albon should be on track to pick up a significantly higher pay packet should he properly return to the F1 midfield.
And he still earns three times as much as Williams teammate Logan Sargeant – the team have the second lowest combined driver wage bill.
How much is Alex Albon worth?
As of 2023, Alex Albon has amassed a net worth of approximately $5 million. While this might not rival the astronomical figures often associated with F1, he’s somewhat a late bloomer in the sport with plenty of chance to boost this figure.
A significant chunk of his net worth is derived from his F1 salary. However, Albon has also ventured into endorsement deals with brands like Red Bull and TAG Heuer, which added a hefty sum to his coffers.
He also enjoyed a partnership with Thai brand PTT Lubricants, as the second-ever Thai driver in F1 following royal family member Prince Birabongse Bhanudej in the 1950s
His assets, including plush residence in England, China and Monaco plusa collection of sports cars, further contribute to his financial portfolio.
Employed at Red Bull while they partnered with Aston Martin, Albon has a DB11 and Vantage, and a Honda Civic Type R.
F1 driver salaries 2023
|1||Max Verstappen||$55m||2028||Red Bull|
|6||Sergio Perez||$10m||2024||Red Bull|
|7||Valtteri Bottas||$10m||2025||Alfa Romeo|
|10||Fernando Alonso||$5m||2024+||Aston Martin|
|14||Lance Stroll||$2m||Open||Aston Martin|
|16||Zhou Guanyu||$2m||2023||Alfa Romeo|