I was a poor driving instructor living on a farm and now I’m an F1 billionaire

Toto Wolff poses with a phone with a background of a farm and a Mercedes F1 car — Photo: © IMAGO

F1 Off The Track

I was a poor driving instructor living on a farm and now I’m an F1 billionaire

Mercedes F1 team principal Toto Wolff came from humble beginnings

Kerry Violet F1 News Editor

F1 editor and journalist covering motorsport since 2024.

Sunday 10 August 2025 12:57

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Mercedes F1 team principal Toto Wolff is a popular figure in the paddock, and is one of the sport's most successful businessmen.

But things weren't always smooth sailing for the man who led Mercedes to a record-breaking eight consecutive constructors' championships between 2014 and 2021.

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The 53-year-old may now be the face of the Silver Arrows but once upon a time, Wolff had ambitions of a stellar racing career of his own.

Having been struck by childhood tragedy through the loss of his father, the Austrian abandoned his dreams of becoming a racing driver after realising he lacked talent and financial backing, having experienced the tough reality of living on a shoestring budget trackside in Austria.

Reflecting on the times when he was a driving instructor at Spielberg, living on a nearby farm, Wolff told the media in Austria earlier this season: "Well, you know, I had this moment in 2014 where we won the race here, and I drove the car back to Vienna. And I had to pinch myself because 20 years prior, I could barely make a living.

"I was working here for a racing school, and I was living in the farmhouse. There were lovely people, an egg and bread in the morning, a glass of milk. And then I was teaching people to drive Formula Ford cars around the old Osterreichring here.

"The highlight of the day was shaking those cars down in the evening and making them ready for the next day. If you would have told me back in the day what would happen 20 years later, I would have been disappointed because I thought I was going to win championships driving these cars, not in running the team.

"But everything happens for a reason. It was a very, very tough part of my life, but I was still doing what I love the most, and that was racing cars," Wolff concluded.

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Wolff's modest upbringing has certainly shaped him into the tough team principal he is today, but his role at Mercedes goes much deeper than purely leading the F1 team to championship success.

In 2009, Wolff and his business partner Rene Berger bought a stake in Williams, joining the board of directors, with the Austrian then appointed the role of executive director in 2012.

But Mercedes were keeping a close eye on him and moved to secure him as their own executive director in 2013.

Through his partial ownership of Mercedes-AMG Petronas F1 Team, Wolff has now become a billionaire investor and motorsport executive, landing the role as CEO and co-owner of the Silver Arrows along with his team principal duties.

At the time of writing, Wolff tops the list of wealthiest F1 team principals having earned his share through careful investment opportunities, with his educational background in economics no doubt helpful in his business ventures.

His current total net worth is estimated to be in the region of $1.6 billion, or £1.2 billion.

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