On Thursday, the sports world was stunned by the announcement that Lewis Hamilton, a seven-time Formula 1 world champion, was switching from Mercedes to Ferrari. Hamilton is expected to depart Mercedes and join Ferrari after the 2024 season.
With Ferrari aiming to win its first world title in sixteen years, the 39-year-old is now in an ideal spot to win an unprecedented eighth world championship with the team.
According to La Gazzetta dello Sport, Hamilton and Ferrari have a deal with a salary package of more than $53.9 million for 2025, with an option for an additional year.
That amount slightly exceeds the yearly salary of Patrick Mahomes, an NFL superstar. The outstanding quarterback for the Kansas City Chiefs will play in his fourth Super Bowl in five years on Feb. 11. Like Hamilton, his ability and brilliance are evident in his constant mouth-watering performances.
In 2020, Mahomes’ outstanding performance earned him a 10-year, $450 million contract with the Chiefs. Last year, Mahomes agreed to a renegotiated contract that runs through 2026 and will pay him approximately $52.65 million a year.
Patrick Mahomes and Lewis Hamilton both make additional income outside of their salaries. They get paid through their large endorsement contracts, which for Mahomes include endorsements from DirecTV, Adidas, State Farm, Oakley, Hy-Vee, Head & Shoulders and Subway. Among the companies Hamilton endorses are Tommy Hilfiger, Monster Energy, Puma, Union Bank of Switzerland and IWC.
Comparing the net worth of Lewis Hamilton and Patrick Mahomes
Patrick Mahomes and Lewis Hamilton are among the highest-paid athletes in the world due to the success of their respective careers, which have undoubtedly brought significant financial gains.
As one of the most recognizable Formula 1 athletes of all time, Hamilton’s prominence has attracted a number of sponsors in addition to his Mercedes revenues, making for a substantial paycheck for him.
Hamilton’s estimated total net worth is $300 million, according to Celebrity Net Worth’s 2023 ranking. Per Forbes, he was one of the world’s highest-paid sportsmen in 2023, taking home an income of $55 million.
Although Patrick Mahomes, at 28, still has a lot of years left in him, he still has a ways to go before he can accumulate as much wealth as Lewis Hamilton has. Celebrity Net Worth estimates that as of 2023, Mahomes has a net worth of $70 million.