How much is George Russell worth? George Russell salary 2023

Find out what George Russell' net worth is and how much he will earn in the 2023 Formula 1 season

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In the high-octane world of Formula 1, championship finish isn’t the only measure of success for drivers like George Russell – their place in the financial hierarchy is also telling.

Russell is fighting to return back-to-back top-five seasons to start his Mercedes career after a stunning fourth-place in the championship in 2022, ahead of illustrious teammate.

Despite Mercedes losing the ability to fight for regular wins since Russell joined the team thanks to a backwards step in car development, the former F2 champion has still produced some headline results.

And Russell‘s salary reflects that the team believe he will one day lead the team’s championship fight once Lewis Hamilton leaves the team.

How much will George Russell earn in 2023?

Lewis Hamilton and George Russell hugging after the Sprint Race at the 2022 Brazilian Grand Prix
Lewis Hamilton and George Russell after F1 Sprint Race at the 2022 Brazilian GP | Mercedes F1 Team

For the 2023 season, George Russell is set to earn $8 million. This figure places him among the top earners in F1, though still some distance behind his Mercedes teammate Hamilton, who commands a staggering $35 million in 2023.

Russell‘s performances in F1 since making his Williams debut has certainly played a role in bumping up his first Mercedes contract.

And that’s without including incentives, for example Russell reportedly has a three million dollar bonus for winning the championship and took his first F1 win in 2022.

It’s estimated he earned less than $200,000 in his first F1 season, but Russell quickly proved the focal point of the team and his promotion to Mercedes was announced midway through 2021.

Russell‘s earnings are indication of Mercedes‘ faith in his abilities not just right now, but their expectation that he’ll lead the team once Hamilton‘s left the team.

Russell‘s deal at the German team runs until 2024 while Hamilton is out of contract at the end of this season and currently new agreement.

Currently, Mercedes have the second-highest combined driver salary total in the F1 paddock behind just Red Bull. While the $43 million that the British pair earn is less than Max Verstappen‘s salary on its own, it’s still a heft chunk of change.

They’re comfortably ahead of Ferrari, as Charles Leclerc and Carlos Sainz earn a combined $36 million, though both drivers are have higher salaries than Russell.

Driver salaries fall outside the F1 cost cap, enabling the team to spend big on their talent without needing to compromise on car development.

How much is George Russell worth?

George Russell looks on at the British GP | Mercedes / Stephen Reuss

As of 2023, George Russell boasts an estimated net worth of $18 million. While not quite in the same league as F1 legends like Hamilton or Fernando, Russell has plenty of time to catch up.

A significant portion of his net worth stems from his Mercedes salary, but that’s not the only source. Russell has secured lucrative endorsement deals with brands like Puma and Bose, adding a substantial amount to his wealth.

Additionally, assets like his luxury apartment in London and a collection of high-end cars, including multiple Mercedes AMGs and a McLaren GT and Ferrari 812 and Bentley Bentayga, contribute to his net worth.

The Brit has previously expressed a desire to move to Monaco like many of his rivals in F1, but put a move on hold in 2021.

However, assuming he does make that soon then his net worth will receive a further boost. And as his career progresses and his brand grows, we only can expect this figure to rise exponentially.

F1 Driver Salaries 2023

DriverSalaryContractTeam
1Max Verstappen$55m2028Red Bull
2Lewis Hamilton$35m2023Mercedes
3Charles Leclerc$24m2024Ferrari
4Lando Norris$20m2025McLaren
5Carlos Sainz$12m2024Ferrari
6Sergio Perez$10m2024Red Bull
7Valtteri Bottas$10m2025Alfa Romeo
8George Russell$8m2023Mercedes
9Esteban Ocon$6m2024+Alpine
10Fernando Alonso$5m2024+Aston Martin
11Pierre Gasly$5m2024+Alpine
12Kevin Magnussen$5m2023Haas
13Alex Albon$3m2024+Williams
14Lance Stroll$2mOpenAston Martin
15Nico Hulkenberg$2m2024Haas
16Zhou Guanyu$2m2023Alfa Romeo
17Oscar Piastri$2m2024+McLaren
18Yuki Tsunoda$1m2023+AlphaTauri
19Logan Sargeant$1m2023+Williams
20Daniel RicciardoN/a2023AlphaTauri
Adam Dickinson
An international multi-award-winning journalist, Adam Dickinson has written for Total-Motorsport.com since June 2022 and also contributes to TNT Sports, Eurosport and the Rugby Paper. He's also had articles published in the Daily Telegraph and several local newspapers, previously worked for Last-Lap.co.uk and FeederSeries.net in motorsport, and graduated with a First-Class Journalism Degree from the University of Sheffield having also studied in Oklahoma. Adam started watching F1 by accident in 2007, catching the last race in Indianapolis, and attended his first race as a journalist at the 2023 British Grand Prix.
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