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Michael Schumacher Net Worth

Michael Schumacher Net Worth

Michael Schumacher has a net worth of $780 million. He spent most of his career as a former race car driver. He won the title of Formula One driver during his career because he won seven of the races.

Who is Michael Schumacher?

Michael Schumacher is a famous ‘Formula One’ racer who developed a passion for the sport at a very young age. Though his parents were not well-off, they did everything they could to support him financially and emotionally. By the age of fourteen, the young boy showed an innate talent for racing, competing and winning in numerous junior championships. By the age of twenty-two, he had proved his mettle, and was signed on by the ‘Jordan Grand Prix’ racing team, to compete in the prestigious ‘Formula One’ championship. For almost 15 years, the driver had participated in the championships, carving a niche for himself in the racing circuit. He has teamed up big names like ‘Benetton Ford’, ‘Mercedes’, and ‘Ferrari’, being the face of the latter for more than ten years. He has won the ‘Formula One’ championship on seven occasions, scoring high points in almost all the races of each season. After 15 years of racing, he retired for a brief period before making a short-lived reappearance. After his second retirement, he settled down in Switzerland with his family. Recently, he suffered a massive head injury while skiing, resulting in paralysis and memory loss, and was put into an externally induced coma to help him cope with the trauma. According to reports, he has regained consciousness but is still recovering.

Michael Schumacher Childhood & Early Life

Michael Schumacher was born to a construction worker Rolf, and Elisabeth, on January 3, 1969 in the town of Hürth, North Rhine-Westphalia, Germany. As a child, he showed a growing interest in racing, and his parents encouraged him by building him his own kart. Both parents worked harder so they could support their son in fulfilling his dreams. In 1982, the young driver won the ‘German Junior Kart Championship’ and was given his driving license at the age of fourteen, the following year. From then on, he went to win several kart championships, supporting himself by working as a mechanic. The enthusiastic racer participated in entry-level championships ‘Formula König’ and ‘Formula Ford’ in 1988, earning an emphatic win in the first. His brother Ralph and stepbrother Sebastian are also ‘Formula One’ racers.

Michael Schumacher Career

In 1990, Michael competed in the ‘Formula 3’ championship of Germany for the ‘WTS’ team, earning a victory in the races. The same year, he competed in the ‘World Sports-Prototype Championship’, as a part of the ‘Mercedes junior racing programme’, along with racers Karl Wendlinger and Heinz-Harald Frentzen. Schumacher drove the ‘Sauber–Mercedes C11’ car, and placed first in the final race at ‘Autódromo Hermanos Rodríguez’. Out of nine races, he participated in only three, but came fifth in the whole competition. The following year, in 1991, he took part in the next season of ‘World Sportscar Championship’, and emerged victorious once again, driving a ‘Sauber–Mercedes-Benz C291’. The same year, he also participated in the ‘Japanese Formula 3000 Championship’, and was placed second. In 1991, the young driver competed in the Formula One race for the ‘Jordan Grand Prix’ team, finishing in seventh place. The same year, he placed fifth in the ‘Italian Grand Prix’, defeating racer Nelson Piquet. The following year, in 1992, he participated in the ‘Mexican Grand Prix’, and the ‘Belgian Grand Prix’, finishing third in the first, but clinching a well-deserved victory in the latter. He also competed in the Formula One for the ‘Benetton Ford’ team, scoring a total of 53 points. The next year, he won a race at the ‘Portuguese Grand Prix’, but lost most of the other. In 1994, Michael competed in the Formula One championship, participating in sixteen races, and winning nine. The same year, at the ‘Australian Grand Prix’, the racer was involved in an accident with British racer Damon Hill, where the English media blamed Schumacher for the incident.

In 1995, he won the ‘Formula One’ championships for team ‘Benetton’, once again, winning nine races, like the previous season. The following year, Schumacher left ‘Benetton’, to sign a contract with ‘Ferrari’, and remained with the latter for ten years. He was offered a remuneration of 60 million dollars, and won the championship for the team on five occasions. In 1996, he finished the competition with 59 points, and scored 78, 86, and 44 points in the next three years. The year 2000 saw Michael begin his successful journey, earning 108 points in the ‘Formula One’ championship. He won the race that year, and went on to earn a victory on each occasion for the next four years, with points of 123, 144, 93, and 148.

In the 2005 ‘Formula One’ championship, the rules were changed with drivers required to use the same set of tyres for the whole race. The ‘Ferrari’ team used Bridgestone tyres that required frequent replacing, but were safer. For this reason, teams using Michelin tyres won most of the races, while the six drivers using Bridgestone had to drop out. The only competition Schumacher won in the 2005 season was the ‘United States Grand Prix’, scoring a total of only 62 points and coming third. The following year, the racer struggled for a win at the ‘Monaco Grand Prix’, placing fifth in the race. He also took part in the ‘Grand Prix’ held at Canada, Italy and China, finishing second in the season. Following the 2006 ‘Formula One’ season, he retired for a period of four years. During this period, Michael acted as an advisor to the ‘Ferrari’ team, and as assistant to CEO Jean Todt.

He was also appointed as a substitute for injured racer Massa, but Schumacher had to pull out in the last moment owing to a neck injury. The spot was filled in by Italian racers Luca Badoer and Giancarlo Fisichella.

In 2010, Michael made a comeback, this time racing for the ‘Mercedes’ team, with German racer Nico Rosberg. He took part in the races held in Bahrain, Spain, Hungary, Europe, Turkey, Belgium, and Abu Dhabi. After meeting with a major accident in ‘Abu Dhabi Grand Prix’, he finished ninth in the championship, scoring a mere 72 points.

In the next two years, he did not fare too well in the ‘Formula One’ championships, finishing eighth and thirteenth, respectively. In 2012, Schumacher announced his decision to retire once again, after the ‘Brazilian Grand Prix’.

Michael Schumacher Awards & Achievements

In April 2002, he was given the title of ‘UNESCO Champion’, since he strongly advocates child education. He shares this honour with footballer Pelé, gymnast Sergey Bubka, and tennis player Justine Henin. From 2002-04, Michael has been named the ‘Laureus World Sportsman of the Year’ on two occasions. He has been nominated for the award six times, sharing the honour with tennis player Roger Federer.

In 2006, he was felicitated with the ‘FIA Gold Medal for Motor Sport’ to commemorate his success. The following year, he won the ‘Prince of Asturias Award for Sport’, for his racing career as well as his philanthropic contributions. The French government honoured this brilliant racer with the title of ‘Officier of Légion d’honneur’, the highest of its kind in France.

In 2014, the ‘Millenium Trophy’ was conferred upon the celebrated racer at the ‘Bambi Awards’.

Michael Schumacher Personal Life & Legacy

The eminent racer got married to Corinna Betsch, in August 1995—the couple have a daughter and a son.

On December 29, 2013, the famous racer had a major accident while skiing with his son Mick, in the Combe de Saulire region of the French Alps. He was wearing a helmet, but still had a massive fall, resulting in a serious head injury. He had to be put in a coma by the doctors, to relieve him of the pain. The following year, he recovered from coma, having reached a comparatively stable condition. He was discharged from the ‘Grenoble Hospital’, and was admitted at the ‘University Hospital’ in Switzerland. Currently, he is at home, recovering from memory loss and paralysis.

The ‘Formula One’ driver loves horse-riding and football, regularly attending football matches organized for charity. He is an ardent follower of matches played by the football teams of ‘Newcastle United’ and ‘Köln’.

Michael is also known for his contributions to charitable causes like education for children, and development of poverty-stricken areas. He has helped ‘UNESCO’ with financial assistance of 1.5 million euros. He has also donated large sums of money to philanthropic organizations including ‘Palace for the Poor’ in Peru.

Michael Schumacher Bio Info

Born: 3 January 1969 (age 49 years), Hürth, Germany
Height: 1.74 m
Teams: Team Sauber Mercedes
Spouse: Corinna Betsch (m. 1995)
Siblings: Ralf Schumacher, Sebastian Stahl
Children: Mick Schumacher, Gina-Maria Schumacher

Michael Schumacher Quotes

  • When you start out in a team, you have to get the teamwork going and then you get something back. – Michael Schumacher
  • Once something is a passion, the motivation is there. – Michael Schumacher
  • The more precisely I can drive, the more I enjoy myself. – Michael Schumacher
  • You try to hide your emotions, so as not to show weaknesses to others. I believe it’s the same for every sportsman. – Michael Schumacher
  • If you’re lucky enough to be famous, then it’s great if you can use your fame and the power your fame gives you to draw attention to things that really matter. – Michael Schumacher

Michael Schumacher Videos on YouTube

Interesting things about Michael Schumacher!

Get a glimpse of Michael Schumacher’s house in Dubai.

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