Michael Schumacher
The Formula One Legend

Michael Schumacher Net Worth $400 Million

Quick Facts

Net worth: $400 Million

Source: Formula One Circuit Racing

Date of Birth: January 3rd 1969

Nationality: German

schumacher

Pre Formula One Career

Although Schumacher debuted in the Formula One circuit in 1991 for Ford, he was involved in other racing activities during his youth. At the young age of four, his father (Rolf Schumacher) added a small motorcycle engine to his pedal kart which he subsequently crashed into a lamp post in Kerpen.

michael schumacher young

His parents took him to the karting track at Kerpen-Horrem. He was the youngest member of the club. Due to his family’s financial condition, his father could only build him a kart from unwanted kart parts, yet at the age of six Schumacher won his first club championship. Rolf Schumacher then took on a second job repairing and renting karts, while his wife worked at the track's canteen to support their son's racing. 

Schumacher obtained his German kart license in 1983 aged 13. Winning many German and European kart championships from 1984 onwards, in 1985 Schumacher joined Adolf Neubert, a Eurokart dealer, He quit school and began working as a mechanic after he became the German and European kart champion in 1987.

In 1988 Schumacher participated in the German Formula Ford and Formula König series, winning the Formula König series. Making this his first step into single-seat car racing, Schumacher competed in the German Formula 3 series in 1989, winning the title in 1990. Also in 1990 Schumacher won the season finale at the Autódromo Hermanos Rodríguez World Sportscar Championship season.

michael schumacher

Career and retirement

Throughout his career, Schumacher has won 7 championship titles and 91 races. Schumacher is regarded as a legend in the Formula One Circuit and has even influenced a few of the younger German racers to begin their racing career.

Michael Schumacher has retired twice, the first time during end of the 2006 season. And made a comeback during 2010 for Mercedes alongside Nico Rosberg. Sadly, Schumacher’s performance dropped while he was in retirement and did not win any more titles. He retired in the end of the 2012 season.

michael schumacher wife

Schumacher and wife Corinna Betsch

Family

Michael married Corinna Betsch in August 1995, together, they have two children, Gina-Maria and Mick. The family has two dogs – one stray, and an Australian Shepherd named "Ed"

In an interview with Clarkson, Schumacher stated that his road cars are a Fiat 500 Abarth, and a Fiat Croma which is also his family car. Michael has a younger brother, Ralf that was a Formula One Driver but retired in 2007. Schumacher also has a step brother, Sebastian Stahl.

Philanthropy 

On 23 June 2003, Schumacher was appointed as an Ambassador at Large for the Most Serene Republic of San Marino.

Schumacher has donated 1.5 million Euros to UNSECO. He is also special ambassador to the organisation. He supports a hospital for child victims of war which specialises in caring for amputees in Sarajevo. Michael has also paid for the construction of a school for poor children in Dakar, Senegal. In Peru, Lima he funded a centre for helping homeless street children obtain medical attention, education, food, clothing, and shelter called "Palace for the Poor". 

While an exact figure for the amount of money he has donated throughout his life is unknown, it is known that in his last four years as a driver, he donated at least $50 million. He stated his interest in these various efforts was aroused by his affection for children and the fact that these causes had received less than enough attention from society.

As part of his punishment after the collision at the 1997 European Grand Prix, Schumacher had participated in an FIA European road safety campaign. Yet, even after the end of his penalty, Schumacher continued to support various campaigns, such as Make Roads Safe

In 2008, Schumacher was the figurehead of an advertising campaign by Bacardi to raise awareness about responsible drinking. In aid of the 2004 Indian Ocean earthquake, Schumacher donated $10 million. Burkhard Cramer (Schumacher's bodyguard) was found dead in the tsunami along with his two sons.

Interesting facts about Michael Schumacher

  • Michael Schumacher once drove a taxi to get his family on a plane to Sweden in time
  • In the cab incident, Schumacher was reprimanded by the police along with the driver.
  • Although his parents were unable to afford a new engine that cost 800 DM, he was able to continue racing with support from local businessmen.
  • In his active career, Schumacher has earned a few nicknames including ‘Schuey’ ‘Schumi’ and ‘Schu’.
  • Michael is involved in other sports such as skiing and skydiving.
  • Michael and his brother have completed races finishing first and second for four times.
  • Sheikh Mohammed bin Rashid Al Maktoum, the crown prince of dubai, has presented a manmade island paradise “The World” (Worth $7 Million) to Schumacher as a retirement gift.

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References:

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