Lando Norris is not just another name in the world of Formula 1; he is a testament to the young talent, ambition, and passion that defines the sport. Born and raised in the UK, Norris quickly made a mark in the racing circuits, eventually joining McLaren as one of their primary drivers. By 2022, his talent was undeniable, leading him to sign a lucrative deal reportedly worth $20m [£15.8m] per annum, extending up to 2025.
Why did Lando Norris move to Monaco?
Monaco – the shimmering jewel on the Mediterranean coast – is no stranger to the rich and famous, especially those from the Formula 1 fraternity. The principality’s allure isn’t just its scenic beauty or grand casinos but also its tax structure, which exempts its residents from federal income taxes.
Lando Norris, like many before him, opted to shift his base to Monaco, a decision that was met with mixed reactions. While the move can be seen as a strategic financial decision, many have criticized him for primarily doing it to save money. However, Norris has candidly addressed this decision, emphasizing the uncertainty of a racing career and the need to secure one’s future financially. For him, relocating to Monaco was not just about the present but an investment in his future.
How did Adam Norris, Lando’s father, amass his wealth?
Behind many a successful individual is the support and guidance of family. In the case of Lando Norris, a significant portion of that support comes from his father, Adam Norris. Adam’s story is one of astute business decisions and timely investments.
Climbing the corporate ladder swiftly, by his early 30s, Adam Norris was at the helm of Pensions Direct. But the significant leap in his financial journey came when the company was integrated into the broader framework of Hargreaves Lansdown. Adam’s stake in this venture was estimated to be a whopping £187m, allowing him to retire at the tender age of 36.
Not one to rest on his laurels, Adam Norris ventured into the start-up ecosystem, investing in several budding businesses via Horatio Investments. Currently, his primary engagement is as the founder and CEO of Pure Electric, a company he founded in 2018, focusing on the sale of e-scooters.
What ventures is Lando Norris involved in outside of Formula 1?
For Lando Norris, motorsports isn’t just about the thrill of the race; it’s about giving back and building for the future. With this vision, he invested in grassroots motorsport by launching LN Racing Kart in 2021. The initiative aims to nurture young talent and guide the next generation of racers into the professional sphere.
But Norris’s interests aren’t confined to the tarmac. Recognizing the booming world of esports and digital content creation, he founded Team Quadrant in 2020. Beyond being just an esports team, Quadrant is a brand that deals in apparel, merchandise, and content creation across various online platforms. It reflects Norris’s keen understanding of modern trends and his ability to diversify his investments.
Lando Norris, with his meteoric rise in Formula 1 and savvy off-track ventures, epitomizes the new age sports professional – one who is not just content with excelling in their chosen field but also understands the importance of diversification, investment, and planning for the future. Whether it’s on the race track, in the world of esports, or supporting budding racers, Norris continues to leave an indelible mark.