CrowdStrike CEO and endurance racer George Kurtz (net worth $6 billion) has acquired a 15% minority stake in the ownership entity controlled by Toto Wolff, making him a co-owner of the Mercedes Formula 1 Team. CrowdStrike has partnered with Mercedes since 2019, and Kurtz will now join the team’s strategic steering committee as Technology Advisor, supporting innovation efforts in data analytics and performance technology.

The agreement places a $6bn (£4.6bn) valuation on the Mercedes Formula 1 team, marking a record high for the sport. For comparison, McLaren was valued at £3.5bn during its ownership restructuring in September.

Toto Wolff is selling a portion of his stake—equivalent to 5% of the team, given that his holding company owns one-third of Mercedes F1—which will bring him $300m (£230m). He will continue in his roles as team principal and CEO, with Mercedes F1’s governance remaining unchanged.

Wolff’s company continues to own one-third of the team, alongside Mercedes-Benz and INEOS, and team governance remains unchanged with Wolff staying as CEO and Team Principal. Kurtz, a class winner at the 24 Hours of Le Mans, emphasised the shared importance of speed, precision, and data in racing and cybersecurity.

Wolff praised Kurtz’s rare combination of racing experience and entrepreneurial success as increasingly valuable to F1’s technological future. The Mercedes team currently sits second in the Constructors’ Championship, trailing McLaren with three races remaining.