Lando Norris is one of the hottest properties in Formula 1, and his net worth was reported by the Sunday Times Rich List in 2022 to be around £10m, though that is likely to increase substantially in the coming years.
The McLaren driver signed new terms with the team in 2022 which reportedly made him one of the highest-paid drivers in Formula 1, with the Briton proving his worth as one of the sport’s hottest prospects and penning a deal worth a reported $20m [£15.8m] per year until the end of 2025.
Like many Formula 1 drivers in years gone by, he also made the move to Monaco – where residents pay no federal income tax – so he has the double benefit of earning more money and being able to keep most of what he makes at the same time.
Lando Norris admits Monaco move could have drawn criticism
The McLaren driver revealed towards the end of 2021 that he would be moving to Monaco, and while he is far from being the first Formula 1 driver to do so, the fact it is a tax haven still attracts criticism from those who say he only moved there to save money.
While some point out that the Principality offers a safe, private setting for the rich and famous to go about their day-to-day lives without interruption, Norris was willing to admit the move was financially driven.
“It’s something that obviously a lot of drivers go to do and especially, with how racing is, I think we’ve seen for other drivers how quickly things can also go downhill and so on,” he said at the time.
“I have to look after my things for my future.
“Of course I’ll understand and there’s going to be some [criticisms] for sure, but people do many things in life for money. This is just another one.”
How did Lando Norris’ father make his multi-million pound fortune?
Adam Norris, Lando’s father, ranked as the 610th richest person in Britain as per the Sunday Times’ annual Rich List in 2022, with a net worth of £200m.
Norris became managing director of the company Pensions Direct in his early 30s, and was able to retire aged 36 when the company was brought into the larger umbrella of Hargreaves Lansdown, with his stake in that organisation reported to be worth around £187m.
Since then, he has invested in several start-ups through his company Horatio Investments, but his current main focus is as founder and CEO of Pure Electric, which he created in 2018 and sells a range of e-scooters.
What other financial interests does Lando Norris have outside of Formula 1?
Norris has invested back into the grassroots of motorsport, beginning his own karting team in 2021 called LN Racing Kart, which looks to help bring the next generation of drivers into the sport.
Alongside that, he founded esports outfit Team Quadrant in 2020, which sells apparel and merchandise alongside its content creation on online channels.
In terms of personal partners, according to his official website, Norris is partnered by his father’s company, Pure Electric, along with Bell Helmets, wearegrip, PAP, TUMI, Quadrant, LN Racing Kart and ADD Management.