In a significant move for the world of Formula 1, the Mercedes-AMG PETRONAS F1 Team has announced a new co-owner. American billionaire George Kurtz, the founder and CEO of cybersecurity giant Crowdstrike, has purchased a minority stake in the shareholding of Team Principal and CEO Toto Wolff.
A Strategic Investment
The deal, confirmed just ahead of the Las Vegas Grand Prix, sees Kurtz acquire a 15 percent stake in Wolff's portion of the overall team ownership. This transaction reportedly involved a nine-figure sum, which would value the entire Mercedes F1 operation at a staggering approximately £4.5 billion.
Despite this sale, Toto Wolff's ownership group continues to hold a one-third stake in the team. A spokesperson for Mercedes confirmed that Wolff will remain as both team principal and CEO, and the team's overall governance structure will remain unchanged.
From the Racetrack to the Boardroom
George Kurtz is not your typical investor. His background provides a unique blend of business acumen and genuine racing pedigree. As an accomplished entrepreneur, he built Crowdstrike into a global cybersecurity leader, a company that is already an official sponsor of the Mercedes F1 team.
Beyond the boardroom, Kurtz is a seasoned racing driver. He began his motorsport career in 2016 and has since achieved notable success. His most prestigious victory came at the 2023 24 Hours of Le Mans, where he triumphed in the LMP2 Pro-Am category. He has also secured class wins at other legendary endurance events, including the races at Sebring, Watkins Glen, and Indianapolis.
New Role and Future Vision
As part of this new partnership, Kurtz will join the team's strategic steering committee. He will sit alongside Wolff, Mercedes-Benz CEO Ola Kallenius, and INEOS chief Sir Jim Ratcliffe to help guide the team's future direction. Furthermore, he will assume a technology advisory position, leveraging his expertise to enhance the team's performance.
Commenting on the new alliance, Toto Wolff stated: "George's background is unusual in its breadth: he's a racer, a loyal sporting ambassador for Mercedes-AMG, and an exceptional entrepreneur. He understands both the demands of racing and the realities of building and scaling technology businesses. That combination brings specific insight that is increasingly relevant to the future of Formula 1."
Echoing this sentiment, George Kurtz said: "Winning in racing and cybersecurity requires speed, precision, and innovation. Milliseconds matter. Execution counts. Data wins. Technology is reshaping competitive advantage and human capability everywhere, including motorsport. I'm excited to help the team securely accelerate forward."
The ownership of the Mercedes F1 team remains split equally between three main parties: Toto Wolff (now in partnership with Kurtz), Sir Jim Ratcliffe's INEOS, and the Mercedes-Benz Group, each holding a 33.3 percent stake.
