Michael Schumacher Net Worth – How Much Is the Formula One Racer Worth?

Formula One is that one sport that’s not everyone’s cup of tea. However, if you are passionate about Formula One, chances are that you know who Michael Schumacher is and the kind of fame he has acquired from his profession.

Michael Schumacher is a famous former German Formula One racer. But, he is one of the few athletes in the world who ended up earning around $1 billion during their career. Simply hearing that is enough to intrigue your mind about the kind of net worth he has today.

This article will explore all that you need to know about Michael Schumacher, his early and personal life, his net worth, and his career growth too.

Quick Facts

Full Name	Michael Schumacher
Birth Date	3 January 1969
Age	55
Profession	Former Racing Driver
Country of Origin	Germany
Nationality	German
Marital Status	Married
Spouse	Corinna Betsch
Net Worth (as of 2024)	$1 billion
Last Updated:	Feb 9, 2024
Social Media	Instagram Facebook Twitter

Early Life

Michael Schumacher was born on January 03, 1969, in Hurth, West Germany. He was born to Rolf and Elisabeth Schumacher and had a very humble and happy upbringing.

His passion for motorbikes and cars stems from his early childhood when his father introduced toys of those nature to him. However, it wasn’t limited to just toys. Michael took a liking to go-karting and surprisingly, he ended up being the youngest in the Karting track in Kerpen-Horrem. During that period, Michael was only around 4-5 years of age.

But that wasn’t all. Instead of being the “child” player in the group, Michael would compete seriously against the others in the club and ended up winning a series of championships not just in Germany but also on a European level.

Michael acquired his driver’s license when he was 12 years old in Luxembourg since it wasn’t legal in Germany. He later acquired his license in Germany and started competing in a series of Kart championships. 

Personal Life

Michael is married to Corinna Betsch since August 1995. The couple have been together for decades now and have two daughters together that were born in 1997 and 1999. Despite the level of fame, he has acquired, Michael is one of those people that prefers to keep his private life out of the media.

Career

With the kind of growth that Michael’s driving career witnessed when he was only a teenager, it was just a matter of time for him to turn professional and get into the professional championships. 

Michael’s first race in Formula One was at the Belgian grand prix, which happened in 1991. Three years into his F1 career and Michael had already won six out of the seven that he participated in.

Later in 1996, Michael signed with Scuderia Ferrari S.P.A racing team, which didn’t have the best reputation in the F1 ground. However, onboarding Michael turned out to be a game-changer for them since they kept winning race after race.

With the kind of success that Michael garnered, he was awarded the Constructor’s Title in 1999, which turned out to be one of the most significant points in his career. Throughout his career in Formula One, he has won the world driver’s championship seven times. He has the World Championship as well.

After riding through the highs of his career, Michael finally announced his retirement in 2006 but later returned in the 2012 European Grand Prix and secured a spot on the podium as one of the oldest drivers.

Net Worth

As we mentioned at the beginning of the article, Michael Schumacher is one of the few athletes that earned $1 billion during their career. Currently, he has an estimated net worth of $600 million. Besides his F1 career, Michael has also earned a good chunk of money through brand endorsements of some of the leading brands like Shell.