Alexander Albon Net Worth: Thai F1 Driver Earned $200,000 From Endorsements In 2020

Alexander Albon is one of the breakout stars of Formula 1 racing in 2020. The Thai-British driver is looking to win some more while lucrative endorsement deals are waiting in the wings.

Also known as Alex Albon, the fast rising F1 driver of Red Bull is slowly but surely climbing the ranks. Partnered with equally gifted Max Verstappen this year, it looks like Red Bull can compete for the overall championship sooner than later.

Albon grew up in London with his British father and Thai mother. He once raced for Toro Rosso before jumping to Red Bull in 2020. Not a lot of young drivers get the opportunity to drive for bigger teams but Albon managed to do that after just 12 grand-prix, per Sportekz.

Thailand is not that big on Formula 1, but it could soon change with Albon ushering in a new era. The last driver who represented the Southeast Asian nation was Birabongse Bhanudej in 1954. Football remains the favorite sport in the country, but endorsers and sponsors are salivating at the potential of the young driver. Formula 1 has expanded globally, even having Grand Prix in China, Azerbaijan, Abu Dhabi and Brazil in 2019.

It is not surprising that Albon earns some money from brand collaborations. In 2019, he earned about $170,000 from endorsement deals. This year, he has bagged $200,000 from sponsorships despite being relatively new in Formula 1. The extra attention brought uneasiness at first and he admitted getting surprised seeing his face on billboards and trains back in Thailand.

Albon’s net worth is around $1 million in 2020. He received $650,000 as basic salary for the year. When endorsement deals and per race fees are included, his fortunes could easily surpass the million dollar mark.

With just almost two years competing for F1 under his belt, the 24-year-old has already proven that he can deliver. He placed 4th and 5th in the Austria and Hungary GP after getting DNF in the first race of the season. The Red Bull star raked in 22 points, which is good for the 5th spot in the current F1 standings.

Albon credits his father, former British racing car driver Nigel Albon, for his interest in karting at an early age. Nigel, who competed in the Porsche Carrera Cup Asia, served as mentor, mechanic and engineer to his son, as per Yahoo! Sport.

Albon’s net worth might be small compared to world number one Lewis Hamilton, but critics claim he has the potential to make it big in the world of Formula One.