2024 is Lando Norris’ sixth season in Formula 1 and his sixth year racing for McLaren. After a very strong 2023 and getting his first win in 2024 he became one of the hottest talents on the grid.
So how much is someone like Lando worth to the Formula 1 teams? And how much has his salary increased each year? Find out below.
Lando's background
Lando came from a wealthy background. His father, Adam Norris, founded a pension company called Pensions Direct which was eventually aquired by Hargreaves Lansdown and helped them become one of the biggest pension providers in the UK.
Adam eventually reached position 501 on the list of the UK’s richest people, with a net worth of over $200 million. That’s exactly the kind of money needed to help your son work up through the junior racing formulae and make his way in to Formula 1.
There’s no question his family’s wealth gave him the leg-up in to the sport that he needed. But since he’s made it in to F1, Lando has earnt a huge amount of money himself. He now resides in the tax-haven of Monaco, as many Formula 1 drivers do. His wealth is evidenced by the custom Lamborghini Miura he’s often seen driving around Monte Carlo in.
Lando's income streams
Obviously a big chunk of Lando’s income comes from his Formula 1 salary. But on top of that, there’s a number of other sources of earning for Lando. These include personal sponsorships, brand deals and endorsements, his Formula 1 performance bonuses and money he makes from his personal lifestyle, clothing, gaming and entertainment brand Quadrant.
Lando Norris current salary
Now in his sixth year of Formula 1, Lando is in the best form of his whole career. McLaren have finally found some performance and their car is capable of mixing it at the sharp end of the grid, as shown by Lando taking his first ever win at the 2024 Miami Grand Prix.
That, combined with a number of other podium finishes in the 2023 and 2024 seasons, puts Lando as one of the hottest talents in the field. And that drives up his value.
According to Forbes, in 2024 Lando Norris is on a salary of around $20 million, before any performance bonuses. Pole positions, podiums and race wins will result in big bonuses so he could easy double his total Formula 1 earnings this year.
That salary makes Lando the fourth-highest paid F1 driver this season, behind Leclerc, Hamilton and Verstappen at #1.
Net worth
Net worth is calculated by totalling of the person’s assets like company shares, property and cars.
In 2022 Lando Norris made it on to the Sunday Times Young Person Rich List. He was in 85th position with an estimated net worth of £10 million.
Now, a couple of years later, that figure will have increased substantially. His current net worth is likely to be over £30 million. Still a little way off his father’s, but if he continues in Formula 1 for many more years he could easily surpass it.
Lando Norris' previous salaries
Lando’s current juicy paycheck is the biggest it has ever been. In his earlier years with McLaren he was getting paid much less. Despite their car’s lack of speed in previous seasons, the team always knew how talented Lando was. For them to keep him from switching to another more competitve team, they were always going to have to lure him back with higher pay.
Here’s a look at how much Lando’s salary has increased over his years in the sport, since his first season in 2019:
| Lando Norris Salary | |
|---|---|
| Season | Salary |
| 2024 | $20 million |
| 2023 | $15 million ($5m base + $10m bonus) |
| 2022 | $11 million ($5m base + $6m salary) |
| 2021 | $9 million |
| 2020 | $2 million |
| 2019 | $250,000 |
Lando's contract
Norris is currently in a multi-year contract deal with McLaren that will see him stay with the team until at least the end of 2026, partnering Oscar Piastri in the papaya cars.
Piastri has shown some serious pace in the McLaren and has, on a couple of occasions, out-performed Lando. But Norris is undoubtedly the lead driver for the team, and as it currently stands McLaren are the second most competitive car on the grid.
If they continue their current run of amazing form and Lando’s relationships with team principal Zak Brown and the rest of the team remains strong, there’s no reason for him to leave any time soon.
