Mercedes F1 team princ൩ipal Toto Wolff has cemented his position as a billionaire a♊fter seeing his net worth skyrocket.

The 52-year-old Austrian was declared a billionaire for the first time in 2023 by business magazine , who have now publis🎶hed the annual World’s Billionaires List for 2024.

Wolff, who owns a 🌊33% stake in♋ the Mercedes F1 team, has been listed with a real time net worth of $1.6billion (£1.27billion).

It marks a net worth rise of a whopping $600million in the last 12⛎❀ months.

F1’s top five billionaires:

• Larry Ellison - £112billion ($141billion) 
• Carlos Slim Helu - £81.1billion ($102.2billion)
• Mark Mateschitz - £30.9billion ($38.9billion)
• Piero Ferrari - £6.84billion ($8.6billion)
• Lawrence Stroll - £3.1billion ($3.9billion)

While Wolff is not enjoying much on-track success at the minute amid Mercedes’ ongoing competitive struggles, he is certain💮ly making 𝓀up for it away from the circuit.

Wolff recently insisted he hasn’t got the “choice” to leave Mercedes when ไquestio🐭ned about his future as team principal.

"The big differ🎉ence is it's not like the manager question in terms of, this is my job, I'll stop the job and then somebody else is doing the♔ job and I'll go to Chelsea or to Liverpool, or over to Ferrari,” he said after Mercedes’ nightmare weekend at the Australian Grand Prix.

"I haven't got that choice, which is also un𒈔fortunate. I'm not a contractor or employee that says, 'I'♍ve had enough of this’.

"My hamster wheel keeps s😼pinning and I can't jump out."

S💯everal other F1-related figures also feature in Forbes’ billionaire list, including Larry Ellis𒀰on, chairman, CEO and cofounder of software giant Oracle, who are Red Bull's title sponsors.

Ellison is the fꩲifth 𒐪richest person in the world. 

Carlos Slim Helu is Mexico's richest person and the billionare backer who has supported much of Sergio Perez's career. He is the 14th 🍨richest person in the world. ♌;

Mark Mateschitz, the s༒on of late Red Bull founder Dietr🥃ich, sits 33rd in the world as of today (3/4/2024).

Ferrari vice chairman Piero Ferrari, the son of legendary founder Enzo, comes in at 295 in the world, while Aston Martin team owner Lawrence Strol🧜l is 809th.

Despite not being directly involved in F1 since being removed from his position as CEO in 2017, and having agreed a civil settlement🅘 to repay 🥃almost £653m to HMRC, Bernie Ecclestone retains billionaire status.