General
Toto Wolff's salary halved, misses out on millions
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.