Mercedes has introduced American billionaire George Kurtz as their latest co-owner. Kurtz, the founder and CEO of cybersecurity company Crowdstrike and a sponsor of Mercedes F1, has acquired a minority share in team principal Toto Wolff’s ownership.
Wolff’s ownership group retains a one-third stake in the team, and he will continue serving as both team principal and CEO. A Mercedes spokesperson confirmed that the team’s governance structure will remain unchanged. However, Kurtz will join Wolff, Mercedes-Benz chief Ola Kallenius, and INEOS leader Sir Jim Ratcliffe on the team’s strategic steering committee.
Wolff praised Kurtz for his diverse background, highlighting his experience as a racer, a loyal Mercedes-AMG ambassador, and a successful entrepreneur. Kurtz’s unique insights into racing and technology businesses are deemed valuable for the future of Formula 1.
Acquiring a 15 percent stake in Wolff’s share of Mercedes F1, Kurtz’s investment follows reports suggesting that the team’s overall value could reach approximately £4.5 billion. In addition to his business achievements, Kurtz is also a racing driver with notable victories in endurance events, including the 24 Hours of Le Mans.
Apart from his new co-ownership role at Mercedes, Kurtz will also provide technology advisory support to the team. He emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, expressing his eagerness to contribute to the team’s advancement securely.
The ownership structure of Mercedes F1 remains evenly split among three key entities, with Wolff now partnered with Kurtz to control 33.3 percent, aligning with Ratcliffe and the Mercedes-Benz Group’s stakes.
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