Former F1 supremo Bernie Ecclestone's net worth has been updated. As per the Sunday Times Rich List, the British motorsport boss is reportedly worth a whopping £2.498 billion.
Ecclestone is the 73rd richest person in the UK and has gone up one place since 2022. He made a bulk of this money by selling the sport's commercial rights to Liberty Media in 2016 for a reported $8 billion. The sport has only grown after moving away from the 92-year-old due to Liberty Media's emphasis on social media marketing.
Ecclestone embarked on his professional journey as a racing driver for Connaught, participating in two Grand Prix races in the 1958 season. Unfortunately, he did not manage to qualify for either of them. Subsequently, he transitioned into a managerial role, overseeing drivers Stuart Lewis-Evans and Jochen Rindt. In 1972, he bought the Brabham team, which he successfully managed for 15 years. His role as a team owner also granted him membership to the Formula One Constructors Association.
The English businessman is no longer a part of the sport but is still well-respected in the community for his contributions to F1.
Liberty Media is not looking to sell F1 any time soon
Liberty Media CEO Greg Maffei firmly denied that the company has any intentions of selling Formula 1, countering earlier speculation that Saudi Arabia's Public Investment Fund had expressed interest in the sport.
Formula 1 is currently thriving, with a significantly expanded calendar in recent years. Since Liberty Media took control from Bernie Ecclestone, the sport has experienced remarkable growth, particularly in the United States, where it is set to host three races this year.
Despite rumors suggesting Saudi Arabia's Public Investment Fund was considering acquiring Formula 1, Greg Maffei, CEO of Liberty Media, dismissed such claims. He asserted that the company is focused on further developing and expanding the sport in the future.
Maffei told the Moffett Nathanson Media and Communications Summit about F1:
"Anyone says that our friends the Saudis are going to buy it next week or something like that, if anybody knows us, they should know that’s just not in our cards. We are very enthused about where Formula 1 is now but [also] where it’s going as well."
"You look at the big revenue streams there, all have good direction. In broadcasting, we have increased fans and we have increased distributors who want to push the product, including new digital distributors and the like."
With the sport's calendar constantly expanding, it will be interesting to see where F1 goes in the future. For now, the sport is all set to head to Monaco for the 2023 Monaco GP.