TOTO WOLFF has become a billionaire – according to the latest Forbes rich list.
The Mercedes boss has taken his place in the 2023 World Billionaires list, which includes fellow sportspeople Tiger Woods and basketball star LeBron James.
Mercedes chief Toto Wolff has officially become a billionaire
Forbes have listed the Australian’s net worth an $1billion
Wolff and Mercedes have struggled to keep pace with Red Bull over the last two seasons
The report lists Wolff’s net worth at $1billion, with Forbes saying Netflix’s F1 series, Drive To Survive, turned Wolff “into a celebrity billionaire with [its effect] on the value of Formula One teams”.
Wolff arrived in F1 when he bought a share of the Williams F1 team in 2009 and joined its board of directors, before selling them off after he joined Mercedes.
In 2020, Wolff also purchased a stake in Aston Martin, who have close links with Mercedes.
Mercedes have struggled to keep pace with Red Bull over the last two seasons, although Sir Lewis Hamilton and George Russell are currently fourth and seventh respectively in the Driver Standings.
The team’s shortcomings have prompted calls for Wolff’s departure.
But the Austrian has remained bullish in the face of criticism, saying: “Whether it is good or bad, I really enjoy being the team principal of the team.
“I think I can contribute. But, if one day I come to the conclusion, or people that are close to me are going to tell me that I’m not, then I will consider giving the baton to somebody else.
“I would have no shame that I’ll criticise from the sidelines, from a TV screen and know it better.
“But, until then, I think I still have fun doing it. And obviously turning the ship around, after so many successful years, that’s really a good challenge.
“The people in charge in Mercedes and in INEOS, they are high-performance individuals within the core business or in sports.
“We have all been through downs and ups and there is not a millimetre of doubt.
“There is so much support from them in order to get us back on track.”
The F1 season resumes on April 30 with the Azerbaijan Grand Prix at the Baku City Circuit.
Complete F1 2023 race calendar – details on every Grand Prix this year