Mercedes has introduced George Kurtz, an American billionaire, as their latest co-owner. The founder and CEO of cybersecurity company Crowdstrike, a sponsor of Mercedes F1, has purchased a minority share from team principal Toto Wolff.
Wolff’s ownership consortium retains a one-third stake in the team, with Wolff continuing in his roles as team principal and CEO. A Mercedes spokesperson confirmed that the team’s governance structure will remain unchanged, with Kurtz joining Wolff, Mercedes-Benz chief Ola Kallenius, and INEOS leader Sir Jim Ratcliffe on the strategic steering committee.
Wolff praised Kurtz’s diverse background, highlighting his experience as a racer, a dedicated Mercedes-AMG sporting ambassador, and a successful entrepreneur. He emphasized Kurtz’s valuable insights into both racing demands and technology business scaling, which are increasingly relevant to the future of Formula 1.
Kurtz has acquired a 15% stake in Wolff’s Mercedes F1 ownership share. Reports suggested that Wolff was set to receive a substantial nine-figure sum for the sold stake, estimating the team’s total value at around £4.5 billion.
Aside from his business accomplishments, Kurtz is also an accomplished racing driver, entering motorsport in 2016. He achieved success by winning the 2023 24 Hours of Le Mans in the LMP2 Pro-Am category and securing class victories in endurance races at Sebring, Watkins Glen, and Indianapolis circuits.
In addition to his co-ownership role at Mercedes, Kurtz will provide technology advisory services. He highlighted the parallels between winning in racing and cybersecurity, emphasizing the importance of speed, precision, and innovation in both fields.
The ownership structure of Mercedes F1 remains evenly split among three key entities. Wolff, now partnered with Kurtz, controls 33.3% of the ownership, aligning with the stakes held by Ratcliffe and Mercedes-Benz Group.
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