Toto Wolff Sells 15% Stake in Mercedes F1 to George Kurtz

Toto Wolff has sold 15% of his holding in the company that owns one-third of the Mercedes Formula 1 team to American billionaire George Kurtz, while remaining team principal and CEO. Kurtz, the founder of cybersecurity firm CrowdStrike and a Mercedes partner since 2019, bought 15% of the vehicle controlled by Wolff that sits alongside Mercedes‑Benz and Ineos as equal one‑third shareholders in the team.

Under the deal, Kurtz will take on the role of the team’s technology advisor and join Mercedes’ strategic steering committee — the group where Wolff meets with Ola Källenius, chairman of the Mercedes‑Benz Group management board, and Ineos chairman Sir Jim Ratcliffe. Kurtz will not, however, become a member of the team’s main board.

Kurtz described the move as a bet on Formula 1’s growth, saying the sport is at an inflection point as a thriving business and that an investment like this reflects confidence in rising team valuations and the opportunity to help drive that expansion.

Wolff welcomed Kurtz’s combination of racing experience and business acumen, noting Kurtz is both a committed Mercedes‑AMG racing ambassador and a successful entrepreneur who understands racing’s demands and the challenges of scaling technology companies.

The 15% purchase of Wolff’s holding translates to roughly a five percent interest in the team itself. Initial reports valuing the deal put Mercedes F1’s worth at a record £4.6bn. Wolff said the higher valuations are rooted in teams becoming more sustainable and profitable, pointing out that based on revenues and cash flows, top F1 teams rank among the world’s most profitable sports organizations — a key driver of increased team values.