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Michael Schumacher Net Worth: Is He The Richest F1 Racer?

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michael schumacher

Michael Schumacher is regarded as one of the most distinguished Formula One drivers. He holds the record for most wins in world championships. He is also the one with the highest number of fastest laps in F1 Grand Prix’s history.

michael schumacher

Michael Schumacher had been in the sport for a span of 21 years starting from his debut in 1991 to his retirement in 2012. With such long experience and countless wins, it is reasonable to assume he earned substantially while he was still active in the sport.

Schumi’s Net Worth

Michael Schumacher, as per Sports Casting, is not only the greatest Formula One Driver, but also the richest of them all.

Throughout his career, Michael Schumacher is expected to have earned over $1 billion. He is now a part of the elite club of billionaire sportspersons which includes Michael Jordan, Arnold Plamer, Jack Nicklaus, and Tiger Woods.

Michael Schumacher, at the peak of his career, is said to have been earning a $100 million a year. His other sources of income such as product endorsements were also lucrative. These other sources fetched him close to $50 million a year.

Even though he is not racing, the athlete is still bringing in large amounts of income. His current net worth is estimated at $600 million, which still makes him one of the richest living athletes today.

Schumi’s tragic accident leading to his retirement

Only a year after his retirement, in December 2013, Michael figured in a horrific accident where he almost lost his life. Although he survived, the F1 champion is believed to be bed ridden since over six years now. His family has refrained from making his health public and so we don’t know much about his recovery progress. But at this point, the chances for his full recovery are bleak given that he has been in treatment for years.

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