Do you have to be a millionaire to become an F1 driver?

[John S]

These days the answer is definetly yes! 

In fact you probably need multi millions. 

https://www.bbc.co.uk/sport/formula1/articles/c5y77exrqkeo

[cosworth151]

That comes to a little north of $177k for a 6 year old. Looks like my 6 year old great grand Sarah's only hope is for Pawpaw Ed to hit the PowerBall   :'(

[Andy B]

Its not cheap at any level now!

[Jericoke]

Similar issues with ice hockey in Canada.  it's always been a pricier sport, given the equipment you need and specialized facilities.  Now you need coaching and extra practise if you intend on a professional career.

[Dare]

I don't think you have to be a millionaire but if you aren't you
better hope your parents are

[Andy B]

I don't think you have to be a millionaire but if you aren't you
better hope your parents are

As most start at a very young age it would need to be parents although Anthony Hamilton had up to four jobs for him to compete in karting but I'm unsure if that is viable now?

[Alianora La Canta]

It barely worked that time. It wouldn't work now, because the sort of people who can spend £100,000 on the first year of karting can't do that by dividing their attention between multiple jobs. (I think Anthony Hamilton himself concentrated on one job, once his IT consultancy took off).

I think it is theoretically possible for a non-millionaire to make it to F1, but it would have to be through the parents (or another close relative) having that £100 k available upfront and then being so amazing that a rich sponsor or three covers the rest. (Most likely, that would require impressing the right manager, although a family with the right contacts might not need them). Certainly, nobody middle-class or working-class who doesn't have a great manager or rich sponsor in their contact list need apply.