Champion Formula One driver Lewis Hamilton is parting ways with the Mercedes-Benz team after 11 years and will join Ferrari in 2025, according to statements released Thursday by both teams.

The 2024 season will be Hamilton's last with Mercedes-Benz, after which he will begin a multiyear contract with Ferrari. Monetary details of the Ferrari contract were not disclosed.

Considered one of the best F1 drivers of all time, Hamilton has seven drivers' championship titles and is tied with legendary F1 driver Michael Schumacher for most. Hamilton almost won an eighth title during the 2021 World Championship but lost to Red Bull's Max Verstappen in a controversial last lap.

Still, Hamilton has made a fortune from his successful career as a star F1 athlete. He has an estimated net worth of about $300 million, according to Celebrity Net Worth.

While Hamilton has made millions from Formula One, he also has made millions from various business ventures and endorsement deals, including a vegan burger chain, a line of clothing, and even an F1 film starring Brad Pitt. Here's how Hamilton made his millions.

Formula One Earnings

Hamilton has made millions from his career as an F1 racer so far. The 39-year-old athlete was among the highest-paid athletes in the world in 2023 and earned $55 million in salary for the year, according to Forbes.

Hamilton also made about $10 million from earnings off the track, through sponsorships and endorsements, bringing his total F1 earnings to $65 million for the year. Hamilton began his F1 career with McLaren in 2007, where he won his first world title. He then went on to sign with Mercedes-Benz in 2013, where he has since won six championship titles with the team.

Businesses and Investments

Hamilton's interests (and business ventures) go beyond the track. The athlete is an avid investor and creative who has dabbled in everything from American football to plant-based meats to fashion and film.

Denver Broncos

Hamilton has been a part-owner of the Denver Broncos, since 2022. The NFL team was valued at $5.1 billion as of August 2023, according to Forbes.

Neat Burger

Hamilton is invested in vegan burger chain, Neat Burger, which has locations in New York, London, Milan, and Dubai. The chain is also backed by actor Leonardo DiCaprio.

Tommy Hilfiger

Hamilton has explored fashion, too. Hamilton launched his own line of clothing with Tommy Hilfiger in 2018.

Non-Alcoholic Tequila

The F1 champion also founded his own brand of non-alcoholic tequila, Almave. Hamilton launched the brand in October 2023, which is the first of its kind from Jalisco, Mexico, and uses the blue agave plant to make non-alcoholic tequila. The tequila retails for $40 per bottle.

Film

Hamilton is currently producing a film about Formula One featuring Hollywood actor Brad Pitt. The film is set to release in 2025 and will be distributed by Apple Studios, which will release the film in theaters first before taking it to AppleTV+.

The filmmakers and creative team reportedly will split the earnings from the film's theatrical release 50-50, according to The Hollywood Reporter. Hamilton also has a documentary series on his life and career in the works with AppleTV+.

Hamilton is also featured in Netflix's hit docuseries, "Drive to Survive," which gives viewers an inside look at the world of Formula 1 racing. While it’s unclear if and how much Hamilton got paid for the Netflix series, top teams Mercedes and Ferrari reportedly received $1 million in salary, according to Essentially Sports. The show has five seasons so far, with the sixth one set to release February 23.