Piastri and Ricciardo Among Australia's Richest Under 40

Formula 1 drivers Oscar Piastri and Daniel Ricciardo have both been recognized on the Australian Financial Review's Young Rich List for 2025, highlighting their significant financial success both on and off the track. Piastri makes his debut with an estimated fortune of $122 million, while Ricciardo continues his presence, rising to $194 million.

Why it matters:

• The inclusion of two prominent F1 drivers on Australia's Young Rich List underscores the growing financial power and global appeal of motorsport. It highlights the lucrative nature of top-tier F1 contracts and enduring marketability for athletes even post-retirement from active racing.

The Details:

• Oscar Piastri's Debut: The 24-year-old McLaren driver enters the list at 56th position with an estimated wealth of $122 million, making him one of 22 newcomers this year.
  • His financial surge follows a stellar 2025 season, establishing him as a championship contender and a global sporting figure.
  • Piastri's recent multi-year contract extension, announced at the Australian Grand Prix in March, is expected to boost his annual earnings to approximately $41 million from next year, projecting a significant increase in his net worth for 2026.
• Daniel Ricciardo's Continued Success: Despite his retirement from Formula 1 earlier in 2025, Ricciardo secured the 35th spot with an estimated fortune of $194 million, an increase of $7 million from the previous year.
  • His sustained presence on the list reflects his strong marketability, long-standing brand endorsements, shrewd investments, and substantial career earnings.
• Overall List Trends: To qualify for the 2025 list, individuals needed a minimum net worth of $44 million, up from $38 million in 2024. The collective wealth of the 100 individuals on the list is $31.7 billion, a nearly 10% increase year-on-year.
  • Basketball star Ben Simmons remains Australia's richest athlete under 40 with $260 million, while actress Margot Robbie leads the entertainment category with $193 million.

The Big Picture:

Formula 1 drivers, especially those at the pinnacle of the sport, are commanding increasingly lucrative deals, reflecting the global growth and commercial expansion of the sport. This financial success is not solely dependent on on-track performance but also on strategic brand partnerships and investments that secure long-term wealth. Piastri's rapid ascent and Ricciardo's sustained presence demonstrate that F1 provides a robust platform for wealth creation among young Australians.

What's next:

Piastri's substantial contract increase for upcoming seasons is poised to significantly elevate his standing on future rich lists, potentially challenging even higher positions. Ricciardo's continued entrepreneurial ventures and brand engagements will likely maintain his financial prominence, showcasing a successful transition post-F1 racing. Both drivers serve as exemplars of how sporting excellence in F1 can translate into considerable and lasting financial success.