Mercedes’ Toto Wolff has huge net worth making him richer than Cristiano Ronaldo

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Mercedes boss Toto Wolff's bank balance makes him one of the richest people working in the lucrative world of F1, with an eye-watering net worth that most can only dream about.

Wolff, 50, who is CEO and team principal of the championship-winning side, is reported to be worth £438million.

This makes him a whopping £71million richer than Cristiano Ronaldo, whose net worth is reported to be £367million.

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Ronaldo, 37, is thought to be paid around £500,000 per week at Manchester United. This means his annual salary makes him the third-highest-paid footballer in the world.

He boosted his bank balance when he played for Juventus and Real Madrid and is also said to rake in money through a number of lucrative sponsorship deals with big names including Armani, Unilever, Nike, Herbalife and DAZN.

The total of these big brand partnerships is reported to be around £34million per year. He even has his own fashion range CR7 which specialises in underwear, loungewear, eyewear and fragrances.

So just how is the Mercedes boss even more well off?

How did Wolff make his millions?

Wolff worked hard and has a strong work ethic rooted from a young age. He said: "It was a tough upbringing; my father was very ill when he was young, and he died when I was a young teenager.

"There wasn't a lot of financial means and if you grow up in a city where you can see that in front of you, but you haven't got it yourself, it is difficult."

Speaking to Nico Rosberg on his Beyond Victory podcast, he added: "My mother brought us up and she was a doctor in Vienna and there wasn’t really any financial background.

"I was in an environment where kids could afford private school, but I couldn’t really. We were taken out of class because the school fee wasn’t paid."

Wolff's laser focus and tenacity saw him enter business in the 1990s, first selling candles at an anti-racism protest in Austria.

He made a profit at the event, which undoubtedly whet his appetite for success in business.

It wasn't a few years later however that Wolff took the path to racing. At the age of 19, he drove in the Austrian Formula Ford Championship and in the Austrian and German Formula Ford in 1993.

He then stepped away from racing and accepted an internship at an investment bank in Warsaw. Here, he quickly moved up the ranks and into sales management at Austrian steel company, Koloman Handler AG.

During a short stay in San Francisco while the internet was in its infancy, Wolff spotted an opportunity to capitalise on the online boom back home.

He soon headed home to Austria where he launched venture capital firm Marchfifteen which focused on technology, software and investments.

In 2004 he started building on his finance portfolio by launching Marchsixteen, another investment company focusing on more established Austrian public companies.

It was only two years later that Wolff decided to combine his passion for business and motor racing when the firm bought 49 per cent of HWA, which builds and races Mercedes cars in the German Touring Car Championship and produces Formula 3 engines.

His next step, buying shares in Williams F1 paved the way for him to join the illustrious board of directors in 2009. Three years later, Wolff was appointed the constructor's executive director.

Wolff was now on Mercedes' radar, who approached him to be their executive director in 2013.

It was soon after, that Wolff joined the German giants as a managing partner. Here he received 30 per cent of Mercedes-Benz Grand Prix Ltd, boosting his bank balance even further.

In 2014 he decided to sell two-thirds of his shares in Williams to American business brand Brad Hollinger, a move that is reported to have further increased his wealth.

Reports suggest Wolff earns an annual salary of £7million from his role with Mercedes. He said: "My role is keeping on winning," he told Forbes in 2018. "I have only one hat on and the hat is trying to develop the team, making a sustainable frontrunner and a race winning team. That’s the target actually."

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  • Cristiano Ronaldo
  • Toto Wolff
  • F1
  • Mercedes
  • Net Worth
  • Manchester United FC
  • Formula One

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