Revealed: Toto Wolff’s personal fortune hits billionaire levels
The 2023 World Billionaires list includes 12 newcomers from the world of sport - including Wolff, Tiger Woods and LeBron James.
Toto Wolff's net worth has hit exactly $1 billion this year, the report says.
Wolff, as well as guiding the F1 team, owns a 33 percent stake in Mercedes. Daimler, the Mercedes-Benz parent company, own 33 percent while INEOS, the company belonging to Britain’s richest man Sir Jim Ratcliffe, owns 33 percent.
Wolff’s huge increase in value is partly due to Netflix which has turned him “into a celebrity billionaire with the effect of its Drive to Survive docuseries on the value of Formula 1 teams”, Forbes says.
He is also an investor into Aston Martin’s F1 team, a customer of Mercedes F1 who use their engine, although in 2023 so far have been outperforming them.
Stunningly despite falling down the pecking order with Mercedes, Wolff’s personal finances benefitted from Aston Martin’s first podium of the season because it caused $300m to be added to its market cap within 24 hours.
Wolff bought 1% of Aston Martin F1 from Lawrence Stroll in 2020.
Wolff has guided Mercedes to eight constructors’ championships in a row, and seven consecutive drivers’ championships. He has led Lewis Hamilton to six of his joint-record seven titles.
The Austrian began his career working as a banker before becoming an investor.
He entered motorsports 11 years ago by investing in Williams F1.
