Mercedes F1 team principal Toto Wolff has cemented his position as a billionai💞r💜e after 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 published 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 s🐷uccess at the minute amid Mercedes’ ongoing competitive struggles, he is certainl🦹y making up for it away from the circuit.

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

"The big difference 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 ꦏgo to Chelsea or to Liverpool, or over to Ferrari,” he said after Mercedes’ nightmare weekend at the Australian Grand Prix.

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

"My hams🐻ter wheel keeps ﷽spinning and I can't jump out."

Several other F1-related figures also feature in Forbes’ billionair🔜e list, including Larry Ellison, chairman, CEO and cofounder of software giant Oracle, who 🔥are Red Bull's title sponsors.

Ellison i𒐪s the fifth riches♏t 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 ri🗹chest person in the world. 

Mark Mateschitz, the son of late Red Bull founder Dietrich, sits 33rd in the🌠 ඣworld as of today (3/4/2024).

Ferrari vice chair🃏man Piero Ferrari, the son of legendary founder Enzo, comes in at 295 in the worl💟d, while Aston Martin team owner Lawrence Stroll is 809th.

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