Details about the billionaire buyer of Toto Wolff's Mercedes F1 stake emerge

Mercedes team principal and CEO Toto Wolff is close to selling a small portion of his ownership stake in the Mercedes-AMG Petronas Formula 1 Team to billionaire investor George Kurtz. The transaction, currently in advanced stages, would value the Brackley-based outfit at around $6 billion, the highest ever for an F1 team.

According to the Financial Times, the deal involves approximately 5% of Wolff’s 33% holding being sold to Kurtz, the co-founder and CEO of cybersecurity firm CrowdStrike. The transaction will be executed through Wolff’s personal holding company, which owns his Mercedes shares.

Despite the sale, Wolff will retain both his position as team boss and his significant ownership stake, ensuring Mercedes-Benz, Wolff, and INEOS continue to hold equal one-third shares in the team.

“Toto Wolff is in advanced talks to sell part of his stake to CrowdStrike’s George Kurtz, in a deal that would give the F1 team a record $6bn valuation and underscore the sport’s commercial success under US ownership,” the report stated.

It's a major leap in valuation from January 2022, when INEOS paid roughly £208 million for its 33% share, with the team valued at under $1 billion at the time. Earlier this year, it was reported that INEOS had planned to sell 15% of its shares to the Mercedes-Benz group, reducing its stake to 18%. But the Toto Wolff divestment comes as a surprise.

Mercedes paddock at Circuit de Monaco on May 24, 2024, in Monte-Carlo. Source: Getty

George Kurtz, a successful amateur racer, has long-standing ties to Mercedes through CrowdStrike’s commercial partnership with the team. His company’s branding appears on the Silver Arrows’ cars and suits, investing in the team's cybersecurity. Known for his participation in endurance racing, like the IMSA SportsCar series, Kurtz’s involvement would deepen his relationship with Wolff.

Despite the potential ownership shift, Mercedes insists there will be no change to the team’s internal structure or leadership. The proposed deal comes amid a period of remarkable appreciation for F1 team valuations, driven by global expansion, cost caps, and commercial reforms.

The $6 billion valuation not only surpasses McLaren’s recent $3 billion mark but also reinforces Toto Wolff’s status as one of motorsport’s most successful investors.

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Toto Wolff’s Mercedes stake has grown from £37m to over $1.9bn in value

Mercedes F1 CEO Toto Wolff at the Miami International Autodrome on May 07, 2022. Source: Getty

Toto Wolff first acquired his stake in Mercedes in 2013, investing an estimated £37 million to become both team principal and co-owner. Over a decade later, that same stake is now worth close to $2 billion, a staggering rise fueled by Mercedes’ on-track dominance and the sport’s global commercial resurgence.

According to Forbes, Wolff’s personal net worth stands at around $1.8 billion, much of which is tied to his Mercedes investment. The team’s 2024 fiscal year revealed record profits for its three equal shareholders: Wolff, Mercedes-Benz, and INEOS. They reported a revenue of £636 million in 2024, a 16% increase from £546.5 million the previous year.

Sponsorship and licensing deals accounted for more than 60% of that figure, reflecting the brand’s continued global reach. After tax, the team posted a net profit of £120.3 million, up nearly 50% from 2023, including previously undistributed earnings from prior years (as per Express.UK).

The results led to an ordinary dividend declaration of £125 million, to be distributed in two tranches, £75 million and £50 million, among the three shareholders. For Toto Wolff, the gains underline his success as both a businessman and team leader. Yet, as he emphasized earlier this year, racing remains his true focus, and he “would give up every single penny of the profits to win,” he said in June.

Edited by Hitesh Nigam