Kevin Magnussen Net Worth 2024: How rich is the Haas F1 driver?

Kevin Jan Magnussen, more commonly known as just Kevin Magnussen, is a Danish racing driver who currently competes with Haas in Formula 1. He is the son of Jan Magnussen, a four-time winner of the ’24 Hours of Le Mans’, who also drove for McLaren in the 90s. Clearly, racing is in Kevin’s blood, and he has often impressed with his performances, despite spending almost the entirety of his career with midfield (to lower midfield) teams.

The Dane was ousted from Haas at the end of the 2020 season in favor of rookie drivers Mick Schumacher and Nikita Mazepin. But in 2022, Magnussen made a magnificent comeback in Mazepin’s place in F1. In 2023, he managed to end up with three Championship points to his name, thus earning the 19th rank on the Drivers’ Standings, as opposed to teammate Nico Hulkenberg who stood 16th with 9 points.

While playing teammate to Nico Hulkenberg at Haas in the recently-ended 2023 F1 season, Magnussen got outscored by the German newcomer to the team at almost all the Grands Prix. He could not bring in the form that he has shown during his 2022 comeback for Haas. Still, Magnussen is famous for his insane defensive techniques as well as his competent Qualifying pace despite being in a lower middle-order car. If you are curious about the earnings the Danish racer has collected over the 2023 period, read on!

Kevin Magnussen Net Worth

It’s hard to get into Formula 1 without being well-off. This already puts drivers a cut above the average person even before they enter the sport, as far as the financials are concerned. Magnussen is indeed to foreigner to the riches of the racing life since his father has been a celebrated racer. Still, his life story is quite interesting as he had to leave racing in 2009 and work at a factory due to lack of sponsorships. But now, he has amassed great wealth after being spotted in F1 on an on-and-off basis. According to several reports, Kevin Magnussen is believed to have a net worth of $30 million at the end of the 2023 F1 season.

Kevin Magnussen F1 Contracts & Salary

Haas are not that big a team. In 2023, they have been reported to shell out the maximum amount of bucks as they reached the budget cap for the first time. Kevin Magnussen has made built good amount of wealth for himself through his tenure at the American outfit. He is currently on a ‘multi-year’ deal with the team. This may mean that either his contract expires at the end of this season, or in any one of the following seasons.

In any case, the Dane’s current contract fetches him an annual salary of $5 million, according to Marca.com. This puts him just around the middle of the list of F1 drivers, in terms of the weight of his salary.

Kevin Magnussen Bonuses

Kevin Magnussen’s salary is on the lower end when compared to the rest of the F1 racers. But the Danish racer gets a sizeable bonus that only adds to his yearly salary as per his race points win. According to the reports, apart from the fixed salary, Magnussen reportedly got a commission of $1,667,666 in 2023 for every point he earned for Haas. As he got 3 points in total, it can be said that the Dane took home a bonus sum of $5,002,998 in 2023.

Kevin Magnussen Endorsements

Kevin Magnussen announced a partnership with Global-Tickets at the beginning of 2023. His official website claims that Magnussen has also partnered with Lunar, a Danish digital bank that is aimed at “helping customers manage their money smarter“. Apart from these, Kevin Magnussen is also a partner of Access by Request (a Cloud-based Privilege Access Management firm) and Intellis, yet another IT company by two Danish founders.

A press release by Intellis spoke about their engagement with Magnussen.

By engaging with Kevin Magnussen and Formula 1, we will approach our existing and future customers in new and exciting ways. We will be able to offer our customers an exclusive opportunity to meet Kevin Magnussen online during a race weekend, listening to Kevin talking about tactics and strategies, and only a few hours later watching him racing on TV.

Apart from the previously mentioned companies, Kevin Magnussen’s partnerships have extended to companies like Admin By Request, MDK Motorsports, Stok Emballage, Asetek SimSport and Cloud Factory.

Kevin Magnussen Investments in Business

As a Formula 1 racer, Kevin Magnussen has a huge amount of wealth at his disposal and of course, like some other racers, he has put his money to good use by investing in some brands. He has pooled his money into Omnicar, where he serves as a part of the Board of Directors.

Kevin Magnussen Investment in House/Real Estate

In 2018, the Danish driver moved from his home country, Denmark, to Dubai, UAE. The latter country, is also host to the F1 season’s finale, for quite some time now. The sport played a part in his move, as the Dane explained that Dubai is “more central” than Copenhagen in terms of the F1 calendar. At least in 2018, he had an apartment in the ‘Dubai Marina’. At the time, his then-girlfriend (now wife), Louise Gjørup, remained in Denmark to “take care of her job”.

It’s possible, that after he was left without an F1 seat in 2021, he made the decision to move back to Denmark. In any case, that is where he currently lives with his family. The exact location is hard to ascertain, but he’s believed to live in either Roskilde, which is his city of birth, or nearby Copenhagen. Though, it’s possible that he still owns/holds his apartment in Dubai, for sporting purposes.

Kevin Magnussen Car Collection

The first road car that Kevin Magnussen ever owned was a Fiat Chincochento. Formula 1 drivers are known to have extensive (and expensive) car collections. He is certainly no slouch and as per the reports, he is believed to own the following cars:

Kevin Magnussen Watches

Kevin Magnussen definitely has a style factor in him as he is always seen dressed in dapper outfits whenever he gets out of his Haas overalls. The watches that he has been spotted wearing include– a Bell and Ross BR-X1, a Cyrus Klepcys Dice in black DLC Titanium (limited edition, worth $37,700), amongst other pricey handpieces.

Kevin Magnussen’s Spouse Louise Gjørup Net Worth

Kevin Magnussen is married to Louise Gjørup. The Dane had revealed after the Mexico City Grand Prix that he had proposed, and the pair were married in October 2019. Little is known about her apart from this, but she does regularly post on her Instagram account, which currently has 13.6K followers. Her posts mostly concern her husband, and the pair’s daughter Laura, who was born in 2021. Louise’s net worth is not known as of 2023.

Frequently Asked Questions

What is Kevin Magnussen’s Net Worth?

His net worth reportedly stands at $30 million at the end of 2023.

What is Kevin Magnussen’s salary in 2023?

As of 2023, his salary is reported to be around $5 million.

Is Kevin Magnussen married?

Yes, he married Louise Gjørup in October 2019. They have a daughter, Laura, who was born in 2021.

What team did Kevin Magnussen make his F1 debut for?

He made his F1 debut at the 2014 Australian Grand Prix, with McLaren.

How many podiums does Kevin Magnussen have?

Exactly one, which came in his debut race at the 2014 Australian Grand Prix.

Where does Kevin Magnussen live?

As of 2023, he lives in Denmark, with a possible ‘extra’ apartment in Dubai.

Who is Kevin Magnussen’s teammate?

In 2023, the Danish driver has partnered with Nico Hulkenberg. Together, the two are known for a rather infamous exchange following the 2017 Hungarian Grand Prix.

Related:

• Nico Hulkenberg Net Worth, F1 Career, Wife, Salary, Endorsements and More
• Guenther Steiner Net Worth, F1 Salary, wife and more

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