Mercedes has introduced George Kurtz, an American billionaire, 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 from team principal Toto Wolff.
Wolff’s ownership consortium retains a one-third stake in the team, with Wolff remaining in his roles as team principal and CEO. A Mercedes spokesperson affirmed that the team’s governance framework will remain unchanged, with Kurtz joining Wolff, Mercedes-Benz head Ola Kallenius, and INEOS chief Sir Jim Ratcliffe on the strategic steering committee.
In a statement, Wolff praised Kurtz’s diverse background as a racer, a dedicated sporting representative for Mercedes-AMG, and a successful entrepreneur. Wolff highlighted Kurtz’s valuable insights into racing demands and the tech industry, which are increasingly crucial for Formula 1’s future.
Kurtz has secured a 15 percent stake in Wolff’s portion of Mercedes F1 ownership, aligning with reports that Wolff was set to receive a substantial sum for the sold stake, potentially valuing the team at around £4.5 billion.
Beyond his business achievements, Kurtz is an accomplished racing driver who began his motorsport career in 2016. His notable victories include triumph at the 2023 24 Hours of Le Mans in the LMP2 Pro-Am class and class wins at endurance races in Sebring, Watkins Glen, and Indianapolis.
In addition to his role as co-owner at Mercedes, Kurtz will also take on a technology advisory position within the team. Expressing his enthusiasm, Kurtz emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, highlighting the transformative role of technology in enhancing competitive advantages.
The ownership structure of Mercedes F1 remains evenly split among three key entities. Wolff, now partnered with Kurtz, controls 33.3 percent, mirroring the ownership shares of Ratcliffe and the Mercedes-Benz Group based in Germany.
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