Formula 1 is one of the most expensive sports in the world. Developing fast cars is the most important aspect of the sport. With spending close to hundreds of millions of dollars per season, only financially stable teams can be competitive on the series. This begs the question: who is the richest team owner in Formula 1?
Who is the richest owner in Formula 1?
While Ferrari is the most valuable Formula 1 team, valued at a whopping $ 1.3 billion, its parent companies aren’t the series’ richest owners.
This title goes to Chalerm Yoovidhya, the majority shareholder of the Red Bull Group. He owns 51% of the company and is therefore also the owner of Red Bull Racing Honda.
The Thai owner has a fortune of a mammoth 22 billion pounds. The enormous wealth and fortune of the Yoovidhya family stem from their contribution to the creation of the energy drink Red Bull. Chaleo Yoovidhya, the father of Chalerm, invented the formula of the energy drink and made it a success in her native Thailand.
In 1987 Dietrich Mateschitz tried the energy drink on one of his trips to Thailand. He approached the family and decided to sell the drink worldwide.
At the beginning Chaleo and Dietrich each took over 49% of the shares in the company, the remaining 2% went to Chalerm Yoovidhya. After his father’s death in 2012, he inherited 49% of the company for a grand total of 51%, making him the majority owner of Red Bull.
Red Bull’s Formula 1 trip
Before 2005, Red Bull was only a sponsor in Formula 1. They sponsored Arrows GPI and Sauber. In September 2004, Jaguar’s Formula 1 team sold its operations and factory to Red Bull, creating Red Bull Racing.
Red Bull had its most dominant time in sport towards the end of the V8 era with Sebastian Vettel. The German, who was once a Red Bull Academy driver, won four consecutive world championships between 2010 and 2013. The team does not manufacture its own engines and was supplied by Renault during the dominant period.
Red Bull Racing is currently running with Honda Power. This season in Formula 1 is the best chance for the team to win the championship in the eight years since 2013. With a fast and reliable Honda engine in conjunction with the golden boy of Formula 1, Max Verstappen, Red Bull will challenge reigning champion Mercedes for the title.
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– Red Bull Racing Honda (@redbullracing) March 29, 2021
Published 30 Mar 2021 19:08 IST
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