| Capital: | € 345 million |
|---|---|
| Age: | 48 |
| Born: | 01/12/1972 |
| Country of origin: | Austria |
| Source of wealth: | Entrepreneurs |
| Last updated: | 2024 |
Short introduction
Toto Wolff is an Austrian investor and former racing driver. He holds 30 percent of the shares in the Formula 1 team at Mercedes AMG Petronas Motorsport and is 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 in Williams F1.
Early life
Torger Christian Wolff, known under the name Toto Wolff, was born in Vienna in 1972 to a Polish doctor and an Austrian father of Romanian origin. Wolff was taught at a French school in Vienna. He only discovered his passion for racing at the age of 18.
Career
Wolff started his motorsport career in 1992 in the Austrian Formula Ford Championship. In the following two years he drove in the Austrian and German Formula Ford. In 1994 he won the 24-hour Nürburgring in his category. In 2002, Wolff took sixth place in the N-GT category in the FIA GT Championship and won a race. He switched to the Italian GT Championship in 2003 and won a race with Lorenzo Case in 2004, while also competing with Karl Wendlinger in the FIA GT Championship. Wolff was runner-up at the Austrian Rally Championship in 2006 and won the 24-hour race in Dubai. Wolff also served as an instructor at the Walter Lechner Racing School. In 2009 he was 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. Wolff has been concentrating on strategic investments in medium-sized industrial and listed companies since 2003. The participations include the 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, develops F3 engines and the Mercedes-Benz SLS AMG GT3 with wing doors. Further investments by Wolff concern BRR Rallye Racing, one of the largest rally parts dealers in Europe. Wolff is also a co-owner of a sports management company with the former F1 driver Mika Häkkinen and was 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 left F1 to become managing director of the Mercedes AMG Petronas Formula 1 team. In 2018 Mercedes won its fifth consecutive double world championship, setting the record that Ferrari set between 2000 and 2004. 2018 was the most successful motorsport year in the history of Mercedes-Benz. Mercedes won both F1 titles, the F2 title with George Russell, the European F3 title with Mick Schumacher, all three titles in the last season of the DTM competition where Gary Paffett secured the drivers’ title, both F1 eSports titles and numerous championships in customer sport.
Career highlights
Since Wolff joined Mercedes in 2013, the team has made a 66 percent profit 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 94 out of 121 pole positions, 58 front row lockouts and 179 out of 242 possible podiums.
Wolff is the vice chair of the Mary Bendet Foundation, which was created in memory of a school friend who was a role model for a generation of friends. The foundation strives to provide disadvantaged children with a better life. His projects include improving living conditions in daycare 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.
Famous quotes
“F1 needs Ferrari much more than Ferrari F1 needs.”
“Every team has a chance to win the title and we see all teams as a potential threat. There is absolutely no claim to be at the top. ”
Success tips
“Modesty is a very important factor in our whole life and I try to remember to be humble and relaxed every night in front of the mirror.”
“The combination of speed, personality and the ability to dampen emotions in both directions is a great ingredient.”
“You need the right balance of data and gut feeling.”
“If you admit a mistake, it is easier to free yourself from this spiral.”
