Mercedes chief Toto Wolff enjoys MASSIVE off-track victory as net worth soars

Toto Wolff

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Mercedes chief Wolff enjoys MASSIVE off-track victory as net worth soars

Toto Wolff is no stranger to success both on and off the grid

Harry Smith

Wednesday 19 July 2023 22:57 Updated: 14:16

Mercedes' on-track performances may fluctuate from week to week, but Toto Wolff has enjoyed sustained success in his business ventures this year, according to a report from Forbes.

The Austrian is a business guru and the most valuable team principal on the grid, owning a direct stake in his Mercedes team.

Wolff currently holds a 33 percent stake in the Mercedes F1 team, making up one-third of the major shareholders alongside the Mercedes parent company and INEOS.

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Mercedes have won just one race since the conclusion of the 2021 season and the sealing of their most recent constructors' title, but the team are making good strides in closing the gap to Red Bull in 2023.

Wolff's wealth is soaring

According to a recent report from Forbes, Toto Wolff's personal wealth has skyrocketed since the start of 2023.

The report states that Wolff is worth $1.6 billion, up from his previous mark of $1 billion in March.

Mercedes are one of the most iconic brands in F1

"That increase comes because Mercedes F1, the second-most-valuable team on the grid, is now valued at an estimated $3.8 billion.

"When Forbes last valued F1’s teams, two years after Liberty Media bought the series in 2017 for $4.7 billion in cash and stock, Mercedes was valued at just over $1 billion."

Thanks to F1's continuing boom in popularity, helped by the success of Drive to Survive and the sport's expansion into the US and other global markets, Wolff and Mercedes' valuations will likely continue to rise.