Lando Norris’s father Adam is a multimillionaire who made is on to the Sunday Times Rich List. His wealth has allowed Lando to progress through the lower motorsport categories and make it in to Formula 1.
But how did Lando’s father make his money? And exactly how much is his net worth? Find out below.
Adam Norris' upbringing
In an interview with Barclays, Adam Norris gave a brief insight in to his own upbringing.
He’s dyslexic and was bottom of his class in school. Adam said ““People thought I was stupid at school, because I was bottom of the year. I also struggled with people’s names. To this day I’m still no good at recalling people’s names – I forget 99 per cent.”
His mother was a teacher and his father was a livestock farmer, so he grew up working on the farm every day of the week, including Saturdays, Sundays and even Christmas Day. His work ethic was there from the start; where others were reluctant to work weekends and sacrifice their time, Adam had no problem putting the work in, especially if he enjoyed it.
Despite his earlier academic struggles, Adam graduated from the University of Leicester with a Bachelors in Mechanical Engineering.
Lando with his dad and Granddad at Silverstone🥹 3 generations of Norris’s🧡 pic.twitter.com/IVp5fFYQqu
— Lando Norris Fans (@Norrislandofans) July 9, 2023
Financial Advisor
After graduating from University with an Engineering Degree, Adam spent a year in Europe training to become a professional tour cyclist. He trained in Belgium and had his sights set on the Tour de France, but never quite made it.
When he returned to the UK, rather than following his degree in to the world of Engineering, Adam jumped in to financial services. He started off as a financial adviser for the firm Acuma before becoming an Independant Financial Adviser (IFA) for small brokerages around the South West of England.
But Adam saw a lot of potential in pensions, and changing the way they were sold.
Hargreaves Lansdown Pensions Direct
In 1998 Adam Norris founded the company Pensions Direct. He believed that pensions could and should be marketed and sold direct to the consumer online, by post or by phone.
Just a year after founding the company he received backing from the major financial services company Hargreaves Lansdown. They absorbed his company and he became Managing Director of the pensions part of the business and grew it to become the UK’s largest pension provider. He was a major shareholder in Hargreaves Lansdown.
In 2007 Hargreaves Lansdown was floated on the stockmarket in a 25% Initial Public Offering. This valued the company at £711m, meaning the major shareholders (of which Norris was one) netted tens of millions of pounds.
In 2008, at just 36 years old, Adam Norris left Hargreaves Lansdown a very wealthy man. He could have retired at that age, but had other ideas.
Horatio Investments
With his new found wealth Adam had the ability to invest. He founded Horatio Investments and became one of the largest Angel Investors in the UK. He helped over 30 young British companies on their startup journies with mentorship and financial backing, pledging close to £100m in investments over a 10-year period.
Pure Electric
Adam resigned from his role as Director of Horatio Investiments in 2010 to focus on Lando’s career. He said managing his son through the junior motorsport ladder with a goal of reaching Formula 1 was a full time (and expensive) task.
Once Lando joined McLaren, Adam could take a much more hands-off approach. That gave him a chance to start his newest venture, Pure Electric.
Pure Electric, founded in 2018, is Adam Norris’ e-scooter company that has a vision to change urban mobility. Adam is harking back to his engineering roots, and through revamping e-scooter design he hopes to make e-scooters the perfect transport aid for every lifestyle.
Net Worth
In 2022, Adam Norris was listed as the 610th richest person in the UK, with a net worth around £200m.
Lando’s salary at McLaren is currently around $20m a year, and his net worth around $30m. He’ll need a few more seasons in the sport before he catches up with his father.
