Toto Wolff has sold 15 per cent of his stake in Mercedes’ Formula 1 ownership entity to American billionaire George Kurtz, while retaining his roles as team principal and CEO. Kurtz, founder of cybersecurity firm CrowdStrike and a Mercedes partner since 2019, bought 15 per cent of the vehicle controlled by Wolff that holds an equal one‑third share in the team alongside Mercedes‑Benz and Ineos.
Kurtz has been named the team’s technology advisor and will join Mercedes’ strategic steering committee — where Wolff meets with Ola Källenius, chairman of the Mercedes Group management board, and Ineos chairman Sir Jim Ratcliffe — but he will not sit on the main board.
“Formula 1 is really at an inflection point where it is a thriving business,” Kurtz said. “If you’re making an investment like this, you believe that the sport is going to grow, F1 is going to grow and the team valuations are going to grow, and you’re going to be able to contribute to that growth.”
Wolff praised Kurtz’s mix of racing experience and entrepreneurial skill: “George’s background is unusual in its breadth: he’s a racer, a loyal sporting ambassador for Mercedes‑AMG, and an exceptional entrepreneur. He understands both the demands of racing and the realities of building and scaling technology businesses.”
Kurtz’s purchase equates to roughly a five per cent stake in the team under a deal that initial reports valued Mercedes F1 at a record £4.6bn. Reflecting on rising valuations, Wolff said the increase reflects teams becoming sustainable and profitable: “When you look at our revenues and our cash flows we are among the five, maybe three most‑profitable sports teams in the world, and this is where the valuations come from.”