Formula 1 is a sport that arguably consumes money like no other on the planet. The sums involved are vast and, to be player, you have to have access to some serious cash. Fortunately – just like with thoroughbred horse racing's standing as the "sport of kings" – the prestige and status of F1 attracts some of the wealthiest people on the planet. So let’s take a look at them... As an entrée, just think about that Claro sticker on the rear wing of the Red Bull Racing car. Claro is the South American part of America Movil, a Forbes Global 2000 telecoms group that employs almost 200,000 staff and is headquartered in Mexico City – its reported revenues are north of $50 billion. Its chairman, Carlos Slim Helu, has a current net worth of $62.8 billion, according to Forbes – at the time of writing, he’s the world's 16 th richest man. He – along with son Carlos Slim Domit – has been the financial force behind driver Sergio Perez, who joined the team in 2021. His career has … [Read more...] about Who Are The Richest People In Formula 1?
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According to a filing with the U.S. Securities and Exchange Commission, Ferrari's initial public offering (IPO) could be valued at up to $9.8 (€8.6) billion. Fiat Chrysler Automobiles has officially launched Ferrari's initial public offering (IPO). The offering will consist of 17,175,000 common shares of Ferrari NV, a roughly nine percent stake, which will be valued between $48 (€42) and $52 (€45) a share. The shares will be listed on the New York Stock Exchange under the symbol of RACE. As part of the spinoff from FCA, Ferrari will assume $3.1 (€2.8) billion of debt. Enzo Ferrari's son, Piero Ferrari, will also being getting a pretty nice pay day as he'll receive a 10 percent stake in the automaker as well as a $318.5 (€280) million cash payment. While some analysts have been critical of the valuation, it hasn't deterred investors as Bloomberg is reporting initial requests for shares has outpaced availability by more than ten-to-one. Gallery: Ferrari IPO … [Read more...] about Ferrari IPO launched, stock to be listed on the NYSE under the symbol RACE
When you do the math, the supercar actually produces around 758 lb-ft and 1,000 hp. Tesla shocked the collective automotive community when it debuted its new Roadster supercar just a few weeks ago. Complete with a whopping 7,376 pound-feet (10,000 Newton-meters) of torque, it has the ability to sprint to 60 miles per hour (96 kilometers per hour) 1.9 seconds, and continue on to a top speed of 250 mph (402 kmh). Allegedly. But those numbers may be seriously overstated, according to a revealing new video by the folks at Engineering Explained. According to Jason Fenske of Engineering Explained , he claims that the Tesla Roadster's proposed torque figures are not in-line with typical vehicle performance measurement standards. By his calculations, the supercar is only able to produce 758 lb-ft (1,027 Nm) of torque, and nearly 1,000 hp (745 kW). Still impressive by modern supercar standards, but a far cry from the alleged 7,376 lb-ft (10,000 Nm) the company touted at … [Read more...] about Tesla Roadster’s 10,000-Nm Torque Figure May Be A Bit Overstated
During the recent Firestone Grand Prix of St Petersburg, I got the chance to ride with the racing icon – and then caught up with him on raceday morning for some great stories – including the time he hung up the phone in disgust on country pop star Keith Urban, but it led to a date with Lady Gaga! I jumped into the ‘fastest seat in sports’ thanks to Andretti Autosport and the new sponsor for the program, Ruoff Mortgage. Climbing in behind that achingly cool red-on-silver helmet design, it truly dawned on me that it was for real, when I looked into the wing mirror and saw those Andretti eyes staring back. I asked the guy who was strapping me in to pinch me, but he just laughed. Charles Bradley, Editor Motorsport.com in two-seater IndyCar with Mario Andretti Photo by: Art Fleischmann Starter engaged, Mario hits the ignition and lights up the rears. As you’d expect, the acceleration matches the furious noise that’s punching me in the back, and we hit the streets of St … [Read more...] about Mario Andretti: Riding along with IndyCar’s coolest chauffeur
Fortunately – just like with thoroughbred horse racing’s standing as the ‘sport of kings’ – the prestige and status of F1 attracts some of the wealthiest people on the planet. So let’s take a look at them... As an entrée, just think about that Claro sticker on the rear wing of the Red Bull Racing car. Claro is the South American part of America Movil, a Forbes Global 2000 telecoms group that employs almost 200,000 staff and is headquartered in Mexico City – its reported revenues are north of $50billion. Its chairman, Carlos Slim Helu, has a current net worth of $62.8billion, according to Forbes – at the time of writing, he’s the world’s 16th richest man. Red Bull Racing RB16B rear wing endplate Photo by: Mark Sutton / Motorsport Images He – along with son Carlos Slim Domit – has been the financial force behind driver Sergio Perez, who joined the team in 2021. His career has been intrinsically linked to the Slim family via their Telmex telecoms company, which … [Read more...] about Who are the richest people in Formula 1?