Toto Wolff is a former motorsport driver from Austria who now devotes his time and fortune to investment and business. Currently, he is CEO and Director of the Mercedes AMG Petronas Formula 1 Team. As of 2022, Toto Wolff has a net worth of $570 million. It will surprise some F1 fans he is even richer than Lewis Hamilton who is worth $285m.
Wolff was born on January 12, 1972 in Vienna, Austria. His real name is Torger Christian Wolff. He was raised with his sister by a Polish father and a Romanian mother who worked as a doctor.
When he was only eight years old, his father was hospitalized with cancer. After the discovery of his father’s illness, his parents separated. During Toto’s teenage years, his father died of the disease.
Although he grew up in a low-income household, he grew up in the city and went to a French school there. He and his sister presumably dropped out of school after their father’s diagnosis.
The Austrian Formula Ford Championship was where Torger started his motorsport journey in 1992. He then joined the German Formula Ford Championship from 1993 to 1994.
He won several competitions. He topped his class at the 24 Hours of Nürburgring in 1994. In 2003 he moved up to the GT championship in Italy, where he won a race with Lorenzo Case the following year.
In 2006 he achieved second place in the Austrian Rally Championship. The same year, he won the 24 Hours of Dubai. With a Porsche RSR, he set a lap record on the Nordschleife at the Nürburgring in 2009.
Formula 1 team Williams brought Toto Wolff onto the board in 2009 after buying a stake in the organisation. He was appointed CEO in 2012.
Wolff left Williams F1 in early 2013 to become executive director of Mercedes AMG Petronas Formula One Team. He also bought 30% of Mercedes-Benz Grand Prix Ltd.
Mercedes won a seventh consecutive double world title in 2020. From 2014 to 2020, they also set a record by winning seven successive driving championships. According to The Daily Star, Wolff’s salary at Mercedes is over £7m a year.
He established the investment groups Marchfifteen in 1998 and Marchsixteen in 2004, both of which initially focused on internet and technology assets.
His other acquisitions included a 49% share in German HWA AG, which he bought in 2006 and listed on the stock exchange in 2007. BRR Rallye Racing is another of his investments.
Toto was also active in managing many racing drivers as one of the owners of a sports management company along with former F1 driver Mika Häkkinen.
In the 1990s, Toto Wolff met and married Stephanie Wolff. They had two children together. However, after a decade together, the couple divorced.
Currently, he resides in Monaco with his wife, Susie Wolff, CEO of ROKiT Venturi Racing. She worked for Williams as a development driver, which is how she met Toto. They married in 2011 and had their first child in 2017.