Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. Kurtz, the founder and CEO of cybersecurity firm Crowdstrike and a sponsor of Mercedes F1, has obtained a minority share in team principal Toto Wolff’s ownership stake.
Wolff’s ownership consortium retains a one-third interest in the team, with him maintaining his roles as team principal and CEO. A Mercedes spokesperson confirmed that Kurtz will join Wolff, Mercedes-Benz chief Ola Kallenius, and INEOS head Sir Jim Ratcliffe on the team’s strategic steering committee, while the governance structure remains unchanged.
Wolff praised Kurtz’s diverse background, highlighting his experience as a racer, a dedicated sporting representative for Mercedes-AMG, and a successful entrepreneur. He emphasized Kurtz’s unique perspective, blending racing demands with technology business insights, which are increasingly crucial for the future of Formula 1.
Acquiring a 15 percent stake in Wolff’s Mercedes F1 ownership share, Kurtz’s investment follows reports suggesting a substantial nine-figure sum for the sold stake, potentially valuing the team at approximately £4.5 billion. Kurtz, not only a thriving businessman but also a seasoned racing driver since 2016, achieved notable success at the 2023 24 Hours of Le Mans and other endurance racing events.
In addition to his new co-ownership role at Mercedes, Kurtz will also serve as a technology advisor. He expressed his enthusiasm for contributing to the team’s progress in racing and cybersecurity, emphasizing the pivotal role of technology in enhancing competitive advantages and human capabilities, particularly in motorsport.
The ownership structure of Mercedes F1 now sees equal ownership among three key entities. Wolff, in partnership with Kurtz, controls 33.3 percent, aligning with the stakes held by Ratcliffe and the German-based Mercedes-Benz Group.
Formula 1 enthusiasts can now enjoy live coverage of every practice, qualifying session, and race through Sky’s Essential TV and Sky Sports bundle, offering a £192 saving. This package includes access to more than 100 TV channels, along with complimentary subscriptions to Netflix and Discovery+ for an enriched viewing experience.
