How Lewis Hamilton made his millions and how he spends them
lovemoney staff
13 July 2018
Cashed-up race king
A four-time Formula 1 world champion, Lewis Hamilton is the most successful British racing driver in history. From his race win prize money to his lucrative advertising deals, we reveal how he made his fortune and the incredible ways he spends it.
Boy wonder
Starting go kart racing when he was just eight years old, Hamilton won the Cadet Class at the Super One British Kart Championship aged 10.
Into the big league
Spotting his raw talent, Hamilton was signed by Formula 1 racing team McLaren when he was 13 years old for an undisclosed sum.
GP2 champion
In 2006 he won the GP2 championship, a Formula 1 feeder series that has since been rebranded as Formula 2, at the first attempt.
Podium win
In 2007, Hamilton finished third in his first ever F1 race, in Australia, becoming only the 13th driver to finish in a podium place in his debut race.
Bigger and better deals
Hamilton’s success brought with it bigger payouts. Later that year, he signed an £87 million, five-year contract to stay with McLaren.
World title
At the age of just 23, Hamilton became the youngest driver ever to win the Formula 1 world title in what was only his second season.
Advertisers' dream
In 2008, he signed an estimated £11.3 million personal sponsorship deal with sportswear brand Reebok.
Covered in glory
Magazines can’t get enough of Hamilton’s image, with the driver splashed across international covers around the world.
Big-money endorsements
He’s said to have earned more than £2 million from personal endorsements with Santander bank, Bombardier, IWC and Tag Heuer watches alone.
Mercedes man
Having made his name at McLaren, the racing star netted a three-year contract with rival Mercedes in 2012. The deal was thought to be worth around £75 million.
Hefty payout
In May 2015, after a year-long negotiation, Hamilton signed a new three-year deal with Mercedes for a rumoured £100 million. That doesn’t include bonuses.
The money man
The deal means Hamilton earns over £1. million per race and an incredible £640,000 every week, making him Britain’s best-paid sportsman.
Leader of the pack
The reigning champion is also the best-paid driver in the sport, ahead of one-time McLaren teammate Fernando Alonso (pictured) and Sebastian Vettel.
Victory is sweet
Adding to his slew of victories, Hamilton won his third Formula 1 World Championship in 2015.
Monster deal
In 2017 Hamilton added to his lucrative partnerships when he signed a £1.5 million deal with Monster Energy drinks, even creating his own '44' version, a reference to his racing number.
Senna's disciple
In June 2017, Hamilton was presented with Brazilian racing legend Ayrton Senna's helmet when he matched his idol's 65 pole positions at the Montreal Grand Prix. "I am shaking," Hamilton said during the presentation. "Ayrton is the one who inspired me to be where I am. To match him and receive this is the greatest honour."
One of the world's best
Hamilton lost the 2016 championship to his Mercedes teammate Nico Rosberg in a fierce battle, but he came back fighting and bagged his fourth world title the following year, equalling the number of titles won by both Alain Prost and Sebastian Vettel. He is now only surpassed by Juan Manuel Fangio, who won five, and Michael Schumacher, who reached seven world titles.
Million-dollar man
Lewis Hamilton’s estimated net worth now sits at a cool £159 million. With his current three-year contract with Mercedes ending this year, there has been much speculation as to the terms of his next deal. It is predicted to be in the region of £120 million, which will cover what Hamilton has stated will be his last three years in the sport.
A man and his dog
Hamilton is not the only one raking it in. Recently he admitted that his dog Roscoe, a British bulldog, lives in LA and earns up to $700 (£527) per day as a model.
Big spender
With titles, trophies and million-pound contracts under his belt, Hamilton likes to treat himself with some seriously pricey presents. Here's how he spends his money...
Hot cars
He might drive for Mercedes but off the track Hamilton is a Ferrari fan, purchasing a $1.5 million (£1.13m) limited edition LaFerrari in May 2015. He also has a Mercedes Benz SLS Black Series in red and black, as well as a Pagani Zonda 760RS and a Shelby GT500.
On your bike
The motoring star is also a fan of riding on two wheels, to the extent that he has even teamed up with motorcycle brand MV Agusta to design several motorbikes. The first collaboration was a Dragster RR in 2015. Last year they worked together again to create a special edition F4 LH 44 bike, which features Hamilton's panther logo. The third collaboration – a Brutale 800 RR – is coming out this year.
Sailing the seas
When he’s not burning rubber, Hamilton likes to cruise the seas in style. He dropped a cool £5.65 million on a 90-foot yacht.
Designer clothing
When he’s not in his race suit, Hamilton likes to dress in style. Spotted sitting front row at both New York and London Fashion Weeks, Hamilton loves to splash his cash on pieces from designers like Balmain.
Private jet
Traveling around the globe for his various race events is a breeze for Hamilton. He just jumps aboard his $20 million (£15m) private jet, a Bombardier Challenger 605. But in 2017 Hamilton's jet appeared in the controversial Paradise Papers, where he came under investigation for tax avoidance by using an Isle of Man scheme to rent his jet from himself.
Pampered pooches
Traveling around the world with Hamilton are his beloved bulldogs, Coco and Roscoe, who are often spotted sleeping in their own beds on his private jet. British Bulldogs are an expensive breed with purebred pups selling for over £2,000.
Nice ink
Hamilton is a big fan of ink, sporting an array of large tattoos across his chest, neck and back. And all that art doesn’t come cheap, especially when they’re inked by celebrity tattoo artist Bang Bang, who reportedly costs $400 (£301) an hour with a minimum price of $1,000 (£753) for any tattoo.
Flashy holidays
When he manages to take a break from his training, Hamilton loves to indulge in a luxurious holiday. Most recently he’s been relaxing in Miami and partying in Barbados.
Making sweet music
Aside from racing, Hamilton’s other passion is music. He’s been known to spend a few quid on musical instruments and studio time.
Property mogul
He likes to split his time between his three properties: a sprawling ranch in Colorado’s Rocky Mountains; a Los Angeles mansion; and his home base, a $15 million (£11.3m) Monaco apartment.
Dripping in diamonds
Hamilton doesn’t mind a bit of bling, often sporting a pair of diamond studs, thought to be worth around $50,000 (£37,660).
Arm candy
And he likes to splash out on some luxe accessories including customized Reebok and Timberlands, dozens of Air Jordans and expensive watches. He recently boasted that his IWC watch collection has soared to 50.
Comments
Be the first to comment
Do you want to comment on this article? You need to be signed in for this feature