Racing driver Michael Schumacher, best known for his stint with Scuderia Ferrari, is regarded as the greatest Formula 1 driver of all time.
The German-born racer shares the record for the most Driver's championships, having won seven titles, a feat also achieved by Lewis Hamilton.
After winning back-to-back Drivers' titles with Benetton in 1994 and 1995, Schumacher moved to the struggling Ferrari team in 1996. The initial years were characterized by falling short of the championship.
As the new millennium began, Schumacher and Ferrari initiated a remarkable turnaround to one of the most dominant stretches in Formula 1 history, securing five consecutive Drivers' and Constructors titles from 2000 to 2004.
Schumacher announced his initial retirement from the sport in 2006 before briefly returning with Mercedes from 2010 to 2012.
At the time of his final retirement from the sport in 2012, Schumacher held several prominent records in Formula 1, including the most wins (91), pole positions (68), and podium finishes (155).
Furthermore, he still retains the record for the highest number of total fastest laps with 77, among other notable achievements.
Being one of the most successful Formula 1 drivers of all time, how much is Michael Schumacher's net worth in 2024?
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Michael Schumacher's Net Worth 2024: $600 million
The 54-year-old Schumacher is worth $600 million as of 2024, according to several reputable sources such as Celebrity Net Worth, Market Realist, Wealthy Gorilla, and Chase Your Sport.
At the height of his career in the early 2000s, Schumacher earned approximately $80 to $100 million annually from his Ferrari salary and an extensive array of endorsements and sponsorships. Notably, he received a staggering $10 million yearly simply for donning a Shell-branded cap in public.
During his brief comeback with Mercedes from 2010 to 2012, it was reported that Schumacher earned $20 million per year from the team. Additionally, he received an extra $8 million for sporting a cap with the logo of the German financial services company Deutsche Vermögensberatung.
Michael Schumacher's Wealth
Schumacher stands as the eleventh highest-earning athlete of all time across all sports, according to a 2022 estimate by Sportico.
Over his 21-year Formula 1 career, from 1991 to 2012, he accumulated $810 million in earnings from both endorsements and salary without accounting for inflation.
The life of the seven-time world champion took a dramatic turn on December 29, 2013, following a skiing accident in the French Alps while with his son Mick.
Schumacher fell, striking his head on a rock, resulting in a severe traumatic brain injury.
Since the incident, Schumacher hasn't been seen in public for over a decade. His wife, Corinna, has sold off several of their assets, notably a $49 million private jet and a vacation residence in Norway.
The family has decided to keep Schumacher's health details confidential. However, several prominent F1 personalities, including former Ferrari team principal Jean Todt, have visited him and expressed that he is not the same anymore.
Currently, the racer receives round-the-clock care from a dedicated team of doctors and nurses at his home in Gland, Switzerland, where he encounters challenges with speech and mobility.
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