Mercedes has revealed that George Kurtz, an American billionaire and the founder of the cybersecurity firm Crowdstrike, is now a co-owner of the team. Kurtz, who is also a sponsor of Mercedes F1, has acquired a minority stake in the shares previously owned by the team principal Toto Wolff.
Wolff’s ownership group will retain a one-third stake in the team, and he will continue in his roles as team principal and CEO. A spokesperson for Mercedes confirmed that the team’s governance structure will remain unchanged, with Kurtz joining Wolff, Mercedes-Benz boss Ola Kallenius, and INEOS chief Sir Jim Ratcliffe on the team’s strategic steering committee.
Describing Kurtz’s background, Wolff highlighted his diverse experience as a racer, a loyal Mercedes-AMG sporting ambassador, and a successful entrepreneur. He emphasized Kurtz’s understanding of both the racing industry and the technology business landscape, noting the valuable insights Kurtz brings to the future of Formula 1.
Kurtz has acquired a 15 percent stake in Wolff’s share of the overall ownership of Mercedes F1. Reports suggest that the sale of the stake to Kurtz could result in a significant nine-figure fee for Wolff, valuing the team at approximately £4.5 billion.
In addition to his business acumen, Kurtz is an accomplished racing driver who entered motorsport in 2016. His notable achievements include winning the 2023 24 Hours of Le Mans in the LMP2 Pro-Am category and securing class victories at endurance events in Sebring, Watkins Glen, and Indianapolis.
Aside from his co-ownership role at Mercedes, Kurtz will also take on a technology advisory position within the team. He expressed his enthusiasm for contributing to the team’s progress in both racing and cybersecurity, highlighting the importance of speed, precision, and innovation in these competitive fields.
The ownership structure of Mercedes F1 now sees three main factions holding equal shares. Wolff, in partnership with Kurtz, controls 33.3 percent, matching the stakes held by Ratcliffe and the Mercedes-Benz Group based in Germany.
