The hard-driving billionaire built Mercedes’ F1 team into an auto racing dynasty. Their championship days may be in the rear-view mirror, but he is more successful than ever. Read more about Toto Wolff’s winning formula:
. In essence, he has built a brand akin to the Dallas Cowboys, which remains the world’s most valuable sports franchise at $8 billion despite a 27-year Super Bowl drought.
That monomaniacal desire to win is hardwired into Wolff. Born in Vienna, he dreamed of becoming a race car driver since childhood. He came up short chasing his passion—in part because he is too tall at six-foot-five—and soon shifted to business. He founded Vienna-based tech incubator Marchfifteen in 1998, spending his days cold calling potential investors.
Wolff agreed, but only under the stipulation that he could buy in as a co-owner. In 2013, he departed Williams and took a 30% ownership stake in Mercedes at a $165 million valuation,Race Course | Wolff begins a teaching fellowship at Harvard Business School in 2024. “Everything else I do is to become better in Formula 1,” he says.
F1 is also getting a huge boost—especially in America, where the sport has lagged in popularity—from Netflix. Debuting in 2019, thedocuseries, which chronicles each F1 season, tapped into a younger, digital-first audience. It also created new F1 stars, including the charismatic Wolff with his militaristic metaphors, fiery competitiveness and oddly specific breakfast order.
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