Michael Schumacher’s staggering £585m net worth dwarfs Lewis Hamilton’s

Michael Schumacher's staggering net worth shows just how big of a star he was during his time in Formula One – a period during which he won seven World Drivers' Championships.

Although that record has since been matched by Mercedes star Lewis Hamilton, Schumacher remains a global icon despite still being in recovery from his 2013 skiing accident.

The 52-year-old German dominated the racing world for a decade with first Benetton and then Ferrari between 1994 and 2004, returning with Mercedes between 2010 and 2012.

As early as 1999, Forbes listed Schumacher as the highest paid athlete in the world, designating him as the sporting star with the fifth-highest career earnings of all-time 18 years later.

MotorSportWeek put together a list of the richest F1 drivers in history, with Hamilton third on the list and a long way behind Schumacher financially.

Schumacher tops the chart with an estimated $800million (£585m) with his sponsorship deals during his career earning him a fortune.

Irish businessman Eddie Jordan is next on the list with $475million (£343m) having founded and owned constructor Jordan Grand Prix between 1991 and 2005.

Third is the aforementioned Hamilton with $285million (£206m) who looks set to continue earning big bucks for the foreseeable future after agreeing a new deal with Mercedes.

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Schumacher admitted back in 2012 that the emerging Hamilton helped him in his decision to retire for good, and he won't have been shocked by his subsequent success.

He said in 2012: “We all know Lewis is one of the best drivers we have around.

“I am sure that he and the team will have a successful future.

“The team had the option in Lewis that helped me decide [to retire].”

With Hamilton telling Sky Sports in 2018: "Firstly I could never ever personally classify myself as the best. Obviously, within myself, I know my abilities and where I stand.

“But ultimately, my dad always told me, since I was eight years old, he said 'do your talking on the track'.

"So I just try to let my results and the results from the things that I do outside of my sport, hopefully, also contribute to that, so people can hopefully create a decent opinion.

"But Michael's still quite far ahead in race wins so you have to say he is still the GOAT."

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