The Formula One tycoon Toto Wolff and the petrochemicals empire of billionaire Sir Jim Ratcliffe have taken a share of a £75m dividend from the Mercedes racing team behind Lewis Hamilton. Revenues at the British company behind the racing team jumped by 24% to £475m in 2022, with pre-tax profits rising to £113m from nearly £72m the year before. Mercedes’ financial performance indicates the increasing health of teams in the motorsport, in which it is notoriously difficult – particularly for smaller teams – for companies to turn a profit. His Mercedes teammate George Russell finished fourth in his debut season last year. The team scored just one win and one pole position, and finished third behind Red Bull and Ferrari in the constructors championship.

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