Formula 1 is one of the most expensive sports in the world to run and operate. Developing fast cars is the most important aspect of the sport. With expenses nearing hundreds of millions of dollars per season, only financially stable teams can be competitive in the series. This begs the question: who is the richest team owner in Formula 1?
Who is the richest owner in Formula 1?
Despite Ferrari being the most valuable Formula 1 team, with a valuation of a whopping $1.3 billion, their parent company aren't the richest owners in the series.
That title goes to Chalerm Yoovidhya, the majority shareholder of the Red Bull Group. He owns 51% of the company, thus also making him the owner of Red Bull Racing Honda.
The Thai owner has a net worth of a mammoth £22 billion. The Yoovidhya family's massive wealth and fortune comes from their contribution in the creation of the energy drink Red Bull. Chaleo Yoovidhya, father of Chalerm, invented the formula of the energy drink and made it a success in their home country of Thailand.
In 1987, Dietrich Mateschitz happened to taste the energy drink on one of his trips to Thailand. He approached the family and decided to sell the drink worldwide.
At its inception, Chaleo and Dietrich each took 49% of the shares in the company, with the remaining 2% going to Chalerm Yoovidhya. He inherited 49% of the company after his father's demise in 2012, bringing his total to 51% and making him the majority owner at Red Bull.
Red Bull's Formula 1 journey
Before 2005, Red Bull was just a sponsor in Formula 1. They sponsored the likes of Arrows GPI and Sauber. However, in September 2004, the Jaguar Formula 1 Team sold their operations and factory to Red Bull, giving birth to Red Bull Racing.
Red Bull had its most dominant period in the sport towards the end of the V8 era with Sebastian Vettel. The German, who was once a Red Bull academy driver, went on to win four consecutive world championships between 2010 and 2013. The team does not create its own engines and were supplied by Renault during their dominant period.
Currently, Red Bull Racing runs on Honda power. This season in Formula 1 is shaping up to be the team's best chance of winning the championship in the eight years since 2013. With a fast and reliable Honda engine coupled with the golden boy of Formula 1, Max Verstappen, Red Bull will look to challenge reigning champions Mercedes for the title.