Revealed: Christian Horner’s wage ‘will increase by 11 per cent’ as Red Bull pit boss ‘reaffirms his standing as F1’s highest-paid workforce principal’
After a turbulent year both and off the track Christian Horner has retained his standing as the highest-paid team principal in Formula One, according to reports.
Horner had been under investigation for controlling behaviour towards a female employee after allegations emerged before the start of the season, which he strenuously denied.
Horner was cleared by the racing team’s parent company on the eve of the opening race in Bahrain, and in August, he was again cleared after an appeal against him was dismissed.
And while the first half of the season looked like becoming the prelude to another dominant season for Max Verstappen reminiscent of the last three years, his side have opened the door for McLaren to lay a challenge to their supremacy.
Yet Horner, according to a report from The Times, has seen his annual salary go up by some 11 per cent, up to £8.92million.
Christian Horner has endured a torrid season as Red Bull team principal on and off the track
However his salary is thought to have risen by 11 per cent to £8.92m, according to a report
The report claims claims that the latest accounts from Red Bull Technology Limited show their highest-paid director, which is assumed to be Horner, rose from £8.04m in 2022 to £8.92m in 2023.
With a sustained period of dominance over the sport in the last three years, it is hardly surprising that the team principal’s renumeration should rise to such levels.
The company in fact saw a 16 per cent turn over rise up to £446m, with shareholders thought to have received a £50m dividend.
Horner may be the best paid team principal in the paddock according to the report, but he is seemingly not the wealthiest.
Mercedes’ pit boss Toto Wolff is paid around £6m-a-year, however as a one-third shareholder in Mercedes-Benz Grand Prix Ltd he pocketed another £25m in dividends.
It is thought that the Austrian has a personal wealth that sees him rank among sport’s billionaires, according to Forbes.
Toto Wolff is paid £6m as Mercedes pit boss, but as a one-third shareholder he banked a hefty dividend payment
McLaren’s chief executive Zak Brown reportedly was paid £26.4m – as a result of a reported one-off bonus payment
Over at McLaren, seemingly the heirs to Mercedes’ title as Red Bull’s biggest rivals, chief exec Zak Brown reportedly took home a payment of £26.4m after what is believed to have been a one-off payment bonus on top of his regular £9m wage.
Red Bull’s racing guru Helmut Marko reportedly took home £7m in 2023, twice his previous payment of £3.5m, according to accounts from Red Bull Technology’s subsidiary, Red Bull Racing.
