According to the American authoritative financial and business magazine “Forbes”, a new billionaire (with assets of more than 1 billion dollars / regarding 130 billion yen) was born in F1. Correspondent Matt Craig says Toto Wolff, 51, has achieved new billionaire status thanks to a surge in popularity sparked by F1’s Netflix and a one-third stake in the Mercedes F1 team. He explained that this is due to the fact that he owns
The Austrian also owns shares in Aston Martin and has a long history of strategic investments through his companies Marchfifteen and Marchsixteen. “The former race car driver bought the Mercedes F1 team in 2013, long before the team’s value skyrocketed, and led Mercedes to eight straight constructors’ championships,” explained Craig. Earlier this year, Wolff told The Times of London regarding his 2013 purchase of the Mercedes team in thirds: “It’s a bit like my life in venture capital and private equity. Buying, investing, developing, Selling, but there is always an exit.” “And in 2020, I came to the conclusion that this is what I love. I love the sports side, I love the business side. And what I learned during covid is that content companies are in crisis. “If you can put on a show and put it on the air, it can entertain people.”