Today's F1 News Delivered Faster Than a Pit Stop
Toto Wolff's net worth surges to $1.6 billion, Danny Ric takes on the fashion world, and other big updates from around the world of Formula 1.
Despite the Mercedes Formula 1 team currently being in second place in the constructors' standings, CEO and team principal Toto Wolff's net worth has risen to $1.6 billion, mainly due to Mercedes F1's increased value of approximately $3.8 billion. The popularity of Formula 1 has surged, particularly in the U.S., partly thanks to Netflix's Drive To Survive docuseries. The implementation of spending restrictions through the "cost cap" has made teams like Mercedes more efficient and profitable. Wolff, who is deeply passionate about motorsports, has led Mercedes to significant success with multiple championships and victories. However, he prioritizes winning over financial gains.
Click here to read the full article by Justin Birnbaum (forbes.com)
The F1-driver-turned-fashion-brand-owner Daniel Ricciardo recently transitioned his Ric3 label to Enchanté after success with early experiments. He opened up with Women’s Wear Daily about his motivations for starting the business, how it’s evolved, and their strategies moving forward.
Click here to read the full article by Leigh Nordstrom (WWD.com)
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Nyck de Vries, a Dutch Formula 1 driver, has expressed disappointment after losing his seat at AlphaTauri. Last year, he impressed by finishing ninth at Monza for Williams, but he struggled in the first 10 races of the 2023 season. Red Bull chief Helmut Marko put pressure on him, leading to his exit from the team and Daniel Ricciardo taking his seat. De Vries admitted on Instagram that losing his F1 opportunity hurt, but he remains grateful for the experience. He also clarified that recent media articles quoting him are inaccurate since he hasn't spoken to the press.
Click here to read the full article by Kieran Jackson (independent.co.uk)
During the 2023 Canadian Grand Prix, Max Verstappen's race suit helped him secure his 41st career win and marked Red Bull's 100th race victory. The suit was auctioned, raising over £100,000 for charity partner Wings For Life, dedicated to spinal cord injury research. The winning bidder also received a meet and greet with Verstappen and a tour of the Red Bull factory. The total amount raised was £108,497, contributing to important research projects.
Click here to read the full article by Danielle Van Wittmarschen (motorsportweek.com)