Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. The CEO of cybersecurity company Crowdstrike, which sponsors Mercedes F1, has acquired a minority share in team principal Toto Wolff’s ownership stake. While Wolff’s group retains a one-third interest in the team, he will continue to serve 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 strategic steering committee.
Wolff praised Kurtz’s diverse background, highlighting his experience as a racer, a loyal Mercedes-AMG ambassador, and a successful entrepreneur. Kurtz’s expertise in both racing and technology businesses provides valuable insights for the future of Formula 1. Kurtz has acquired a 15 percent stake in Wolff’s share of the overall Mercedes F1 ownership, amid reports suggesting a significant nine-figure payout for the sold stake, valuing the team at around £4.5 billion.
Beyond his business success, Kurtz is also a racing driver who began competing in 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. In addition to his role as co-owner at Mercedes, Kurtz will also serve as a technology advisor.
Expressing his enthusiasm, Kurtz emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, noting the role of technology in reshaping competitive advantage. The ownership structure of Mercedes F1 remains evenly distributed among three main stakeholders, with Wolff and Kurtz now jointly controlling 33.3 percent, matching the stakes held by Ratcliffe and Mercedes-Benz.
In other news, Sky has enhanced its Ultimate TV and Sky Sports bundle by adding HBO Max, Netflix, Disney+, discovery+, and Hayu, alongside 135 channels and comprehensive Sky coverage of Formula 1. Sky offers exclusive broadcasting of every practice, qualifier, and race throughout the season, as well as coverage of the Premier League, EFL, darts, and golf.