Who is George Kurtz and why did he invest in Mercedes F1?

George Kurtz is an American billionaire and founder of cybersecurity firm CrowdStrike. He invested $300 million in Mercedes F1, believing in the sport's growth and the team's potential.

What is the new valuation of the Mercedes F1 team?

The Mercedes F1 team has been valued at a record $6 billion following the recent investment deal.

What is Toto Wolff's role after selling part of his Mercedes F1 stake?

Toto Wolff remains team principal and CEO of Mercedes F1. He sold 15% of his shareholding but retains significant influence.

Home / Sports / F1 Team Valued at Record $6 Billion After Toto Wolff Stake Sale

F1 Team Valued at Record $6 Billion After Toto Wolff Stake Sale

21 Nov

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Summary

Toto Wolff sold 15% of Mercedes F1 to George Kurtz for $300 million.
The deal values the Mercedes F1 team at a record $6 billion.
Kurtz, founder of sponsor CrowdStrike, joins the team's steering committee.

F1 Team Valued at Record $6 Billion After Toto Wolff Stake Sale

Mercedes team principal Toto Wolff has divested 15% of his shareholding in the Formula One team to billionaire investor George Kurtz for $300 million. This transaction establishes a new benchmark valuation for an F1 team, reaching $6 billion, a figure that rivals major global sports franchises. Kurtz, the founder of one of Mercedes' key sponsors, CrowdStrike, is acquiring the stake using his personal wealth.

Kurtz expressed optimism about the future growth of Formula 1 and team valuations, indicating his belief in contributing to this expansion. While not joining the main board, he will become a member of the team's steering committee. This investment underscores the significant increase in the team's value, which has reportedly grown over sevenfold since Ineos acquired a third stake in 2020.