9 months ago
Mercedes F1 Boss Wolff Sells Stake to American Billionaire
Mercedes' team boss Toto Wolff sold part of his Mercedes Formula One team shares to American billionaire George Kurtz.
This deal makes Mercedes F1 the most valuable team ever, worth $6 billion.
Kurtz will join the team's steering committee.
Wolff's team has grown a lot in value since 2020.
Mercedes' main driver, George Russell, has won two races this season.
Toto Wolff sold 15% of his Mercedes F1 stake for $300 million
Deal values Mercedes F1 at $6 billion, a record for an F1 team
Buyer George Kurtz, founder of Mercedes sponsor CrowdStrike, joins steering committee
Team's value has increased seven-fold since 2020
George Russell leads Mercedes drivers, wins 2 out of 21 races this season
- Who
- Toto Wolff, George Kurtz
- What
- Sold and bought shares in Mercedes F1 team
- Where
- Formula One
- When
- Recently
- Why
- To invest in the growing sport and team
Key facts
- Team Value
- Wolff's Sold Stake
- 15%
- Kurtz's Purchase Amount
- Team's Value Increase Since 2020
- Seven-fold
- Russell's Race Wins This Season
- 2 out of 21
Quotes
George Kurtz
American billionaire and founder of cybersecurity firm CrowdStrike
“If you're making an investment like this, you believe that the sport is going to grow, F1 is going to grow and the team valuations are going to grow, and you're going to be able to contribute to that growth.”
wionews.com
Toto Wolff
Mercedes' team principal and chief executive officer
“He understands both the demands of racing and the realities of building and scaling technology businesses.”
wionews.com
