Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. The CEO of Crowdstrike, a cybersecurity firm sponsoring Mercedes F1, has obtained a minority share in the team owned by Toto Wolff.
Wolff’s group retains a one-third ownership stake in the team, with him continuing as both team principal and CEO. A Mercedes spokesperson confirmed that the team’s structure will remain unchanged, with Kurtz joining Wolff, Mercedes-Benz’s Ola Kallenius, and INEOS’s Sir Jim Ratcliffe on the strategic steering committee.
Wolff praised Kurtz’s diverse background, highlighting his experience as a racer, a loyal Mercedes-AMG ambassador, and a successful entrepreneur. He emphasized Kurtz’s valuable perspective, aligning with the evolving landscape of Formula 1.
Kurtz has acquired a 15 percent interest in Wolff’s Mercedes F1 ownership share. Reports suggest that this stake sale could result in a substantial nine-figure payment to Wolff, valuing the team at approximately £4.5 billion.
Apart from his business accomplishments, Kurtz is an accomplished racing driver, entering 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 races in Sebring, Watkins Glen, and Indianapolis.
In addition to his co-ownership role at Mercedes, Kurtz will also serve as a technology advisor. He highlighted the parallels between success in racing and cybersecurity, emphasizing the importance of speed, precision, and innovation in both fields.
The ownership structure of Mercedes F1 now divides equally among three key entities. Wolff, in partnership with Kurtz, controls 33.3 percent, matching the shares held by Ratcliffe and Mercedes-Benz.
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