What is Toto Wolff's net worth? | The SunNovember 2, 2023
TOTO Wolff has made a name for himself as the CEO of the Mercedes F1 team.
The Austrian executive has a huge net worth. Here’s what we know about him.
Who is Toto Wolff?
Torger “Toto” Wolff was born on January 12, 1972, in Vienna, to a Polish mother and a Romanian father.
Wolff, who lives in Monaco, is the Team Principal and CEO of the Mercedes F1 team.
As Mercedes F1 boss, Wolff has won eight constructors' titles with the team and has built a strong working relationship with Lewis Hamilton.
The Austrian attended the prestigious French school, the Lycée Francais de Vienne, and speaks fluent German, English, French, Italian, and Polish.
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Wolff lost his father at the age of 15 after he died as a result of brain cancer.
In 2023, he spoke about the significant effect his father’s death has had on him, and how the loss has fuelled his drive for success.
Wolff said: "It [his father's death] has an impact until today. Since I can remember my father was ill with the brain cancer and suffered with it for 10 years and then eventually died when I was 15.
"That is a time when as a boy you need the father. That wasn't the case with me. We were in financial difficult circumstances that didn't help either.”
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"So that certainly is part of how I am today with all the bad sides that come with it, the trauma, but also on the other side, I think ambition and eagerness to do well."
Is Toto Wolff married and does he have any children?
Wolff is married to Susie Wolff—née Stoddart—a Scottish former racecar driver.
The pair met in the 2008 Deutsche Tourenwagen Masters series, where Susie was racing.
Susie and Toto married in 2011 after a few years together, in a ceremony in Capri, Italy, attended by the great and good of the motorsports industry.
On April 10, 2017, after six years of marriage, Susie gave birth to their first child, a boy called Jack.
Susie took to Twitter to share the news of their newborn, writing: “Yesterday Toto & I welcomed a healthy Baby Wolff to the world. Could burst with happiness & love!”
After stints living between Oxford and Switzerland, the couple currently live in Monaco.
Wolff has two other children, Benedict, born in 2001, and Rosa, born in 2004, from his first marriage with Stephanie.
He was married to Stephanie for ten years and remains on good terms with his ex-wife.
"I am in the very lucky situation that we are a true ‘patchwork family',"Wolff said.
“Now we spend Christmas and holidays together. And as tough as a divorce is, we all grew,” Wolff added.
What did Toto Wolff do before taking over as Mercedes Principal?
Before stepping into his current role as CEO and team principal at Mercedes, the Austrian had a short career in racing, competing in Austrian Formula Ford, and won the Nurburgring 24-hour race in 1994.
After the 1994 win, he was offered an F1 seat but opted to move away from professional racing, and towards business.
He studied briefly at the Vienna University of Economics and Business before founding his own investment companies, Marchfifteen in 1998, and then Marchsixteen in 2004.
Merging his two passions, Wolff invested in the William F1 team in 2009, and by 2012, he was the team's executive director.
Later in 2012, Wolff was appointed Managing Partner of the Mercedes F1 Team and bought a 30% stake in the team.
He now has a 33.3% stake in the company.
What is Toto Wolff's net worth?
Wolff became a billionaire in 2023, with a net worth of $1.6 billion according to Forbes.
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In the first half of 2023, Wolff’s net worth increased dramatically by 60%.
This boost to his net worth is likely a result of the increasing valuation of the Mercedes team, which is now estimated at $3.8 billion.
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