Wolff 'astonished' by skyrocketing Mercedes valuation

      "The cost cap has significantly transformed our business model."

      Toto Wolff expressed his astonishment at the dramatic increase in Mercedes' value but clarified that selling a portion of his stake does not indicate he is stepping back from his role. The Mercedes CEO and team principal recently divested 15 percent of his shares to CrowdStrike founder George Kurtz, reducing his ownership from 33 to 28 percent. However, Wolff assured reporters of his continued dedication. "I have no plans to sell the team or step down," he stated. "I’m in a great position, enjoying it. As long as I feel I'm making a contribution—and others feel the same—there's no reason to consider that option."

      Wolff noted that this sale was merely a strategic collaboration. "What I did was sell part of my investment to George. He’s a racer and a tech entrepreneur, someone who can assist me in accessing the American market. That’s the sole reason—nothing more."

      Mercedes is now valued at an impressive $6 billion, meaning Wolff's diminished stake still earned him approximately $300 million. He acknowledged that the valuation is remarkable. "If someone had told us five years ago what the valuation would be, we wouldn’t have believed it."

      He attributed the significant increase to the cost cap and Liberty Media’s financial model. "The cost cap fundamentally altered our business case. Greg Maffei safeguarded us from ourselves—revenues increased, free cash flow rose, and that elevated valuations."

      Citing NFL valuations as a reference, Wolff remarked on the substantial growth potential of the sport. "Five years ago, the Dallas Cowboys were valued at $3 billion—now they’re worth $12 billion. If we continue to grasp what makes the sport entertaining and deliver a fantastic show, there’s no reason F1 can’t keep expanding. It just needs to be safeguarded appropriately."