CrowdStrike founder and CEO George Kurtz has purchased a share of the Mercedes Formula One team, acquiring 15% of Toto Wolff’s one-third stake, both parties confirmed on Thursday. The transaction, made personally by Kurtz, comes amid reports valuing the former world champions at a record $6 billion, the highest figure ever linked to an F1 outfit.
While financial terms were not disclosed, the new investment does not alter the team’s governance structure. Mercedes-Benz, Ineos and team principal Wolff each continue to hold equal one-third stakes, with leadership remaining unchanged.
Kurtz, an amateur racer with experience at Le Mans and other endurance events, will become technology adviser to the team and take a seat on the strategic steering committee, joining Wolff, Mercedes-Benz chairman Ola Kaellenius and Ineos founder Sir Jim Ratcliffe.
CrowdStrike has partnered with Mercedes since 2019, featuring branding on the team’s cars and race apparel. Kurtz said all shareholders were fully aware of the acquisition as it progressed.
Speaking to reporters, Kurtz described the $6 billion valuation as consistent with market trends and predicted further growth as Formula One continues to attract a younger global audience, particularly in the United States.
“We think there’s a great opportunity to grow the sport, particularly in the U.S. and particularly within the technology space where we can bring more sponsors in,” he said.
He highlighted the importance of technology in modern F1:
“The folks who can unlock technology will have the best performance advantage.”
Kurtz also pointed to a surge of female fans and the ongoing impact of Netflix’s Drive to Survive, as well as the upcoming Brad Pitt F1 film, as growth catalysts.
“It’s a thriving business … can it grow into something like the NBA or the NFL? I think so. Which is why I invested,” he added.
Kurtz said he remains open to further investments in sport, including potential opportunities in the NBA or hockey, provided the “fit” is right. However, he dismissed any suggestion that he could one day replace Wolff as team principal.
“My focus is on CrowdStrike … that’s my day job. Toto is the guy in charge, he’s the leader,” he said.
Mercedes, who dominated Formula One from 2014 to 2021 with eight consecutive constructors’ titles, sits second in the current standings behind champions McLaren.
