|Estimated value:||€345 million|
|Country of origin:||Austria|
|Source of Wealth:||entrepreneur|
Toto Wolff is an Austrian investor and former racing driver. He holds 30 percent of the shares in the Mercedes AMG Petronas Motorsport Formula 1 team and is the team principal and CEO of the team. In his role as an investor, Wolff specializes in strategic investments in medium-sized industrial and listed companies. He was formerly a shareholder of Williams F1.
Torger Christian Wolff, known by the name Toto Wolff, was born in Vienna in 1972 as the son of a Polish doctor and an Austrian father of Romanian origin. Wolff was educated at a French school in Vienna. He only discovered his passion for racing at the age of 18.
Wolff began his motorsport career in 1992 in the Austrian Formula Ford Championship. For the next two years he drove in the Austrian and German Formula Fords. In 1994 he won the 24-hour Nürburgring in his category. In 2002, Wolff finished sixth in the N-GT category of the FIA GT Championship and won one race. He switched to the Italian GT Championship in 2003 and won a race with Lorenzo Case in 2004 while also appearing in the FIA GT Championship with Karl Wendlinger. In 2006, Wolff was runner-up in the Austrian Rally Championship and won the 24-hour race in Dubai. Wolff also served as an instructor at the Walter Lechner Racing School. In 2009 he became the lap record holder on the Nürburgring-Nordschleife with a time of 7:03 minutes in a Porsche RSR.
As an investor, Wolff founded Marchfifteen in 1998 and Marchsixteen Investments in 2004, initially focusing on internet and technology companies. Since 2003, Wolff has focused on strategic investments in medium-sized industrial and listed companies. Holdings include German HWA AG, in which Wolff acquired a 49 percent stake in 2006. In 2007 the company was listed on the stock exchange. The company runs the German Touring Car Masters racing program for Mercedes-Benz, developing F3 engines and the Mercedes-Benz SLS AMG GT3 with gullwing doors. Further investments by Wolff concern BRR Rallye Racing, one of the largest rally parts distributors in Europe. Wolff also co-owns a sports management company with former F1 driver Mika Häkkinen and has been involved in the management of racing drivers such as Bruno Spengler, Alexandre Prémat and Valtteri Bottas.
In 2009, Wolff bought a stake in the Williams Formula One team and joined the board of directors. In 2012 he was appointed Executive Director of Williams F1. In 2013, Wolff Williams left F1 to become Managing Director of the Mercedes AMG Petronas Formula 1 team. In 2018, Mercedes won its fifth consecutive double world championship, equaling the record set by Ferrari between 2000 and 2004. 2018 was the most successful motorsport year in Mercedes-Benz history. Mercedes won both F1 titles, the F2 title with George Russell, the European F3 title with Mick Schumacher, all three titles in the final season of DTM competition where Gary Paffett clinched the Drivers’ title, both F1 eSports titles and numerous championships in customer sport.
Since Wolff joined Mercedes in 2013, the team has achieved a 66 percent win share. Since the introduction of the turbo hybrid regulations in 2014, Mercedes has won 89 out of 121 races under Wolff’s leadership. The team has taken 94 of 121 pole positions, 58 front row lockouts and 179 of 242 possible podiums.
Wolff is Vice President of the Mary Bendet Foundation, established in memory of a school friend who was a role model for a generation of friends. The foundation strives to give underprivileged children a better life. His projects include improving living conditions in day care centers, dormitories and playgrounds; talent development through sponsorship of scholarships; Centers for blind and disabled children to better prepare them for life in everyday society.
“F1 needs Ferrari a lot more than Ferrari needs F1.”
“Every team has a chance at the title and we see all teams as potential threats. There is absolutely no right to be at the top.”
tips for success
“Humility is an extremely important factor in all of our lives and I try to remind myself every night in front of the mirror to be humble and relaxed.”
“The combination of speed, personality and ability to dampen the emotions both ways is a great ingredient.”
“You need the right balance of data and gut feeling.”
“When you admit a mistake, it’s easier to break out of this spiral.”
|Estimated value:||€345 million|