Max Verstappen is reportedly set to face a significant reduction of $19 million in his Red Bull bonus for his championship-winning 2024 F1 season compared to the previous year.
Verstappen clinched his fourth consecutive World Championship at the United States Grand Prix last weekend, further solidifying his status among the greatest drivers in Formula 1 history.
Max Verstappen to see Red Bull bonus cut for F1 2024
At 27 years old, Verstappen has become only the second driver, after Sebastian Vettel—who reigned supreme with Red Bull from 2010 to 2013—to claim his first four titles in consecutive years.
His latest championship victory follows an extraordinary campaign in F1 2023, where he and Red Bull delivered the most dominant season in history. Their RB19 car achieved an unprecedented 21 wins out of 22 races.
Verstappen also set a new benchmark for the most victories in a single season, surpassing his previous record of 15 wins from the 2022 season.
Max Verstappen leads the way in the F1 2024 rich list
Despite opening the season with four wins in the first five races, Verstappen and Red Bull faced a more challenging campaign in F1 2024, contending with a renewed threat from McLaren, Ferrari, and Mercedes.
Verstappen endured a 10-race winless streak—the longest since his 2020 season—spanning from June’s Spanish GP to the Brazilian GP in early November. During this period, Lando Norris and McLaren emerged as his closest challengers for a fourth title.
Red Bull’s dip in form is expected to impact Verstappen’s bonus payments for 2024, with the World Champion reportedly set to receive $19 million less than in 2023. According to a report by Fox Sports Mexico, Verstappen’s reduced win total—just eight victories this season, 11 fewer than in 2023—is a key factor in the bonus cut.
Verstappen has two remaining chances to add to his 2024 win tally, with the Qatar Grand Prix this weekend and the season finale in Abu Dhabi.
Widely regarded as the highest-paid driver in F1, Verstappen reportedly earns a base salary of around $70 million. In addition to this, drivers receive bonuses from their teams for race victories, with Verstappen also expected to receive a bonus for securing the World Championship.
The news of Verstappen’s reduced bonus follows reports earlier this month highlighting Red Bull boss Christian Horner’s financial success. Horner has solidified his position as the highest-paid team principal in F1. Recent accounts from Red Bull Technology Ltd show that the company’s highest-paid director, believed to be Horner, received an 11% pay increase as a reward for Red Bull’s record-breaking 2023 season.
The pay increase has boosted Horner’s salary from £8.04 million in 2022 to £8.92 million in 2023.
Similarly, accounts for Red Bull Racing Ltd show that Dr. Helmut Marko received £7 million in 2023, a notable rise from £3.5 million the previous year. Listed as a ‘hotelier’ in Companies House documents, the 81-year-old Marko is known for owning four luxury hotels in his hometown of Graz, Austria.
Red Bull’s record-breaking success in F1 2023 also led to a 16% increase in the company’s turnover, reaching £446 million. Shareholders—excluding Horner—benefited from this success with a £50 million dividend payout.
