Payoff for Toto Wolff (53)!
In the gambling metropolis of Las Vegas (United States), millions of euros are lost every day. Casino visitors lose hundreds, even thousands of euros when playing roulette, blackjack, etc. Someone has now achieved a big win on the sidelines of the Grand Prix in Las Vegas (Sunday, 5am German time, Sky and RTL): Toto Wolff!
The CEO and team boss, who until recently owned 33 per cent of the Silver Arrows shares like Daimler and chemical company Ineos, has sold 15 per cent of his shares. That means a total of five percent of Germany formula 1racing team. With an estimated team value of around 4.8 billion euros, Wolff is likely to collect around 238 million euros for it – and that’s from George Kuntz (55).
The American is no stranger to Mercedes. Kuntz is the founder and CEO of Crowdstrike. The cybersecurity company is a longtime sponsor of the Silver Arrows. Striking: Kuntz, who is active in motorsports and, among other things, achieved a classy victory in the endurance race at Le Mans, will not be a silent partner, but will occupy an official position. Mercedes announced that he would serve as technology advisor. The focus is on the interface between racing, data analysis and performance.
Wolff on the deal: “George has a very broad background: he is a racing driver, a loyal sporting ambassador for Mercedes-AMG and an extraordinary entrepreneur. He knows the demands of racing and the realities of building and developing a technology company. This combination brings with it specific insights that are increasingly relevant for the future of Formula 1.”
Thumbs up for the best deal: Wolff sold 15 percent of his shares
Kuntz said: “To be successful in racing and cybersecurity, you need speed, precision and innovation. Milliseconds matter. Implementation matters. Data wins.”
Mercedes wants to do that again in the future – with Kuntz.
