Top 7 Drivers Earn Nearly 80% of All Formula 1 Salaries in 2026
Formula 1 salaries are heavily concentrated at the top of the grid. In the 2026 season, just seven drivers account for nearly 80% of the sport’s total driver payroll, highlighting the massive financial gap between the championship contenders and the rest of the field.
Those seven contracts alone combine for $254 million in base salaries, out of the $324 million total paid to Formula 1 drivers this season.
Elite Salary Tier in Formula 1
Max Verstappen leads the list with a $65 million annual base salary, followed by Lewis Hamilton who reportedly earns $50 million in base salary plus potential bonuses upto $20 million.George Russell recently signed new Mercedes deal which will earn him salary of $40 million/year making him the third highest paid on the grid.
Ferrari will be spending the most on driver salaries with Hamilton's ($50m/base) and Charles Leclerc's ($34m/base) contracts making it $84 million (excluding bonuses).
Lando Norris, Oscar Piastri, and Fernando Alonso are the other drivers who earn $20 million/year with their respetive contracts.
Top 7 Highest Paid F1 Drivers (2026)
| Rank | Driver | Base Salary | TEAM | Contract |
|---|---|---|---|---|
| 1 | Max Verstappen | $65M | Red Bull | 5 yrs (2024–2028) |
| 2 | Lewis Hamilton | $50M | Ferrari | 2 yrs (2025–2026) |
| 3 | George Russell | $40M | Mercedes | 3 yrs (2025–2027) |
| 4 | Charles Leclerc | $34M | Ferrari | 6 yrs (2024–2029) |
| 5 | Lando Norris | $25M | McLaren | 4 yrs (2024–2027) |
| 6 | Oscar Piastri | $20M | McLaren | 4 yrs (2025–2028) |
| 7 | Fernando Alonso | $20M | Aston Martin | 2 yrs (2025–2026) |
Verstappen’s Mega Contract
At the top of the list sits Max Verstappen, whose $65 million base salary is the largest contract in Formula 1. Remarkably, Verstappen’s deal alone accounts for roughly 20% of the entire Formula 1 salary pool in 2026.
That illustrates just how valuable the reigning world champion is to Red Bull both on and off the track.
Why Top Drivers Earn So Much
There are several reasons behind top drivers earning massive salaries. From the team the drive for and their on and off-track value.
➤ Unlike team spending limits, Formula 1’s cost cap does not include driver salaries, allowing teams to offer massive contracts to elite talent.
➤ Teams like Ferrari, Mercedes and Red Bull since Verstappen's emergence are willing to pay the premium on driver salaries, if they have championship winning potential.
➤ In Formula 1, revenue distribution is not equally shared between the teams. Rather three of the historically successful teams like Ferrari, Mercedes and McLaren earn part of the total profit before rest is distributed equally. Ferrari for example earns $63.30 million as historic payment every year which help them keep paying bigger salaries even without being succesfull in the recent era.
➤ Once a driver wins F1 title, he is likely to be offered bigger contracts. Before he won his first Championship title he was earning $10 to $13.5 million/year. It was increased dramatically after his first title earning him $45 million/year contract in 2022.
Massive Salary Gap in Formula 1The financial gap between the sport’s biggest stars and the rest of the grid is massive to say the least. While top drivers earn between $20 million and $65 million per season, several younger drivers on the grid earn between $1 million and $2 million annually.
That creates a 65× difference between the highest and lowest paid drivers in Formula 1, one of the largest salary gaps in global sports.
Explore Formula 1 driver contracts at SalaryLeaks