Michael Schumacher is a name everybody who is even distantly familiar with motorsport has heard of. The only driver in history to win seven Formula One World Championships, he has won five of them in consecutive years.
Michael Schumacher's Endorsements and Salary
Michael Schumacher is a name that continuously appears on the Forbes’ list of the richest athletes. He made his first appearance on that list in 2004 as he ranked 2nd, a position that he has maintained for over thirteen years.
In 2005, Eurobusiness magazine identified Schumacher as the world's first billionaire athlete. He was one of the highest paid athletes of all time.
He made a heft salary racing for Mercedes and Ferrari, but his income majorly comes from advertisement.
Despite being in coma due to a skiing injury in 2013, Schumacher still earns $50 million every year through endorsements. This might seem like a very high figure in isolation but when compared to his endorsements during the peek of his career, it fades away.
This is because he was paid sums like $10 million per year by Shell to wear a hat with the company’s logo at nearly all public appearances. He made $8 million by just wearing a cap with the logo of Deutsche Vermögensberatung inscribed in it.
In 2013, just before his retirement, Sports Illustrated claimed that he earned about $20 million every year, racing for Mercedes. And these sums have been high throughout his career which spanned more than 20 years.
Schumacher is a special ambassador to UNESCO and has donated 1.5 million euros to the organization. He has provided financial aid to the child victims of war at Sarajevo.
He started the ‘Palace for the Poor’ at Peru which aimed at uplifting the poor children from streets by providing them with education, food, medical assistance and training.
He donated $10 million for aid after the 2004 Indian Ocean earthquake. In the years between 2009-2013 he is said to have donated $50 million.
Michael Schumacher Net Worth 2017
According to Forbes he is the second richest athlete in the world, just behind Michael Jordan. His current net worth is estimated to be $800 Million.