Christian Horner, the team principal of Red Bull Racing, has solidified his position as the highest-paid team principal in Formula 1, following an 11% pay rise in 2023. Red Bull’s dominant 2023 season, where they won 21 out of 22 races, contributed to the team’s immense success, with Max Verstappen securing his third consecutive World Championship title, having achieved a record-breaking 19 victories in the season. This incredible performance elevated Horner’s salary from £8.04 million in 2022 to £8.92 million in 2023.
However, Red Bull has faced challenges in replicating the same level of success in 2024, as they currently sit third in the Constructors’ standings, trailing McLaren and Ferrari with only three races remaining in the season. Despite this, Verstappen remains a strong contender for a fourth consecutive Drivers’ Championship, bolstered by his recent victory at the Brazilian Grand Prix, which ended his longest winless streak since 2020. Verstappen holds a commanding 62-point lead over McLaren’s Lando Norris, making him a likely candidate for another World Championship title.
Horner’s rise to the top of the pay scale comes after an extraordinary run of success with Red Bull, where he has served as team principal since 2005. Under his leadership, Red Bull has won six Constructors’ and seven Drivers’ Championships. The latest financial reports reveal that Horner’s pay increase is a reflection of the team’s record-breaking achievements, including an overall revenue increase of 16%, reaching £446 million in 2023. These financial gains also resulted in a £50 million dividend for Red Bull’s shareholders, excluding Horner.
Red Bull Racing’s financial success extends beyond Horner, with Dr. Helmut Marko, another key figure at Red Bull, receiving a pay rise of £3.5 million in 2023, bringing his total salary to £7 million. Marko, an 81-year-old known for his business ventures in hospitality, signed a new three-year contract with Red Bull GmbH earlier in the year. In comparison to Horner’s salary, Mercedes’ Toto Wolff is believed to earn £6 million as team principal, but his 33% ownership stake in the team contributed to a significant £25 million dividend payout, making him considerably wealthier.
While Horner is at the forefront in terms of salary, other team leaders in F1 have also seen substantial increases in their earnings. McLaren’s CEO, Zak Brown, experienced a dramatic salary boost from £9 million in 2022 to £26.4 million in 2023, though this figure likely included a one-off bonus. Meanwhile, Wolff’s wealth, bolstered by his stake in Mercedes, has reportedly surpassed £1 billion, underlining the growing financial influence of F1 team principals and their connection to the success of their respective teams.
