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BY Abu Mubarik, 12:35pm June 20, 2024,

Lewis Hamilton’s earnings jump to $69 million despite his worst start to a season

Lewis Hamilton. Photo: Wikimedia Commons/ Jen_ross83

Lewis Hamilton, the seven-time Formula One champion and entrepreneur, has seen a massive jump in his fortune despite a career low. The British racer emerged as one of the highest-paid athletes globally, with earnings totaling $69 million over the past 12 months.

His earnings surpassed the $55 million he made in 2023. As per Forbes, he made $57 million in on-field earnings and $12 million from endorsements and other ventures, making him one of the most marketable athletes in the world. This earnings ranks him 21st on Forbes’ The World’s Highest-Paid Athletes for 2024.

Hamilton is undoubtedly one of the biggest celebrities in Formula One in contemporary times. He has won seven world championships but analysts are now wondering whether he has lost his F1 edge due to his worst start to a season.

As Autosport reported on Thursday, Hamilton sits in eighth place in the championship behind George Russell and is still without a win since December 2021. In February, he announced that he would join Ferrari after the 2024 season. Now in his final season with Mercedes, many believe that his deal with Ferrari is affecting his performance.

He first debuted in 2007 with McLaren. The following year, he declared his intention to the world after winning his first World Championship. Hamilton moved to Mercedes in 2013 and changed the fortunes of the team.

In 2018, he signed a two-year contract with Mercedes worth $100 million, giving him a base salary of $30 million annually and bonuses that will see his total comp from Mercedes push to $50 million. Also, he ranked 13th on Forbes world’s highest-paid athlete in 2020 with an annual salary of $42 million.

His popularity also makes him attractive to global brands. In 2018, he went into a collaboration with Tommy Hilfiger to promote its line of menswear, underwear, and swimwear. He also came to have endorsement deals from Monster Energy, Puma, IWC, Sony, Bose, Bell Helmets, MV Agusta Motorcycles, and Vodafone.

Aside from his endorsement deals, he is also an entrepreneur. He invested in the NFL’s Denver Broncos in 2022. He is also the co-founder of the world’s inaugural distilled non-alcoholic blue agave spirit called Almave. He co-founded the brand alongside agave expert and Casa Lumbre Co-Founder & Master Distiller Iván Saldaña.

Almave is the only non-alcoholic product to use the coveted Blue Agave. Similar to tequila, Almave is made from the same raw materials in the same part of Mexico but without the fermentation process where the liquid becomes alcohol. 

Hamilton, like many celebrities, loves to spend on luxurious estates. In 2017, he bought a New York penthouse for $43.9 million. He, however, listed the property for $57 million. He also owns a four-story mansion with six bedrooms in Kensington, West London that was built in 1860 and is worth $25 million. The Mercedes driver also owns apartments in Nyon, a suburb of Geneva, Switzerland, and Monaco, according to reports.

Last Edited by:Mildred Europa Taylor Updated: June 20, 2024


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