Michael Schumacher’s Net Worth: How Much Has the Racing Legend Amassed During His Dominating Career? (2024)

The 7X WDC champion Michael Schumacher is a name unknown to none. The driver with German origins made his way into F1 with Jordan Grand Prix but won his debut World Championship with Benetton in 1994 followed by a second glorious win in 1995 before moving on to Ferrari.

As ruthless as he was with his style of racing, Schumacher dominated F1 in the early 2000s before his retirement in 2006 but made a comeback within four years with the newly formed Mercedes team. The comeback was very short-lived as he suffered from a skiing accident in the cold winter of 2013. After that terrible incident, Michael Schumacher was known to be in a medically induced coma although his recovery is unspecified.

With a career that is lustrous and a legacy that transcends generations, Michael Schumacher is the wealthiest F1 driver to ever exist only to be seconded by the British driver, Lewis Hamilton. Currently, one of his children, Mick Schumacher, is a reserve driver for the Mercedes-AMG Petronas F1 team.

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The prodigy has raced for the Haas F1 team and was formerly a driver of the Ferrari Driver Academy. Mick made his debut in a Formula 1 car in April 2019 in the Bahrain pre-season testing at the wheel of the Ferrari F1 SF-90.

Michael Schumacher’s salary

In his career spanning from 1991 to 2012, Schumacher had a mass net worth of $650 million. At one point his salary was upwards of $45 million per annum at Ferrari. When he returned to the sport with Mercedes, he earned about $75 million annually. As he proceeded towards the prime of his career, Schumacher earned roughly $80-100 million per year. Michael has appeared on Forbes’ list of highest-paid athletes every year since 1990.

The driver was nothing less than an asset so much so that a German company called Deutsche Vermögensberatung, a financial consultancy firm, paid Schumacher a fortune of $8 million per annum over the span of three years, which was later extended to 2010, to wear a cap with their logo on it.

The legend also owns a luxurious car collection that includes his debut car, Jordan 191, a Formula 1 Ford car, a Sauber Mercedes-C291 along with the Ferrari FXX, one of the 30 cars made till this day, which is worth about $3.4 million among others. The Ferrari FXX was based on the model produced by Ferrari known as the Enzo but has a 6.3-liter version of the Enzo’s engine generating a power output of approximately 800 PS. If we were to put a figure on the entire collection, it will worth roughly around $8.4 million.

Schumacher was once endorsed by companies such as Marlboro, Vodafone, and Shell among others.

Michael Schumacher’s assets

The driver possesses an impressive assortment of properties around the world. Schumacher and his wife Corinna’s primary residence, during the time of the incident that nearly cost him his life, was a mansion in Switzerland located on the shores of Lake Geneva, which is an invaluable piece of real estate given its location.

Despite all that luxury, to tame his as well as his wife’s admiration for horses, Michael Schumacher bought a horse ranch in Texas, USA. The ranch is mostly used by his daughter, Gina-Maria Schumacher who is also a professional equestrian for training purposes. Not very long ago, in the year 2018, his wife Corinna came into possession of a property worth $40 million in Majorca, Spain.

Michael Schumacher’s wife ‘buys £27million Majorca mansion featuring two pools and a helipad from Real Madrid President’ https://t.co/mD6UVBaYPf pic.twitter.com/cwx4sfUDBr

— FirstPressNG (@firstpressNg) July 22, 2018

The 7X WDC champion holds records such as 100% podium percentage in a season, fastest laps in a year, most wins at a GP (French), and many more. But his most coveted record i.e., most WDC titles (7) is up for contention, by his ‘contemporary’ at Mercedes, Lewis Hamilton.