Mercedes has introduced George Kurtz, an American billionaire, as their newest co-owner. Kurtz, the founder and CEO of the cybersecurity company Crowdstrike and a sponsor of the Mercedes F1 team, has obtained a minority share in team principal Toto Wolff’s ownership stake in the organization.
Wolff’s ownership consortium retains a one-third interest in the team, and he will continue to serve as both team principal and CEO. A spokesperson for Mercedes 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 team’s strategic steering committee.
Wolff commented, stating, “George’s diverse background sets him apart: he is a racer, a devoted sporting ambassador for Mercedes-AMG, and an outstanding entrepreneur. He possesses a deep understanding of racing requirements and the dynamics of developing and expanding technology businesses, providing valuable insights crucial for the future of Formula 1.”
Kurtz has acquired a 15 percent stake in Wolff’s share of Mercedes F1 ownership. Recent reports suggested that Wolff was in line to receive a significant sum for the sold stake, potentially valuing the team at approximately £4.5 billion.
In addition to his success as a businessman, Kurtz is a racing driver who began competing in motorsport in 2016. He achieved a notable victory at the 2023 24 Hours of Le Mans in the LMP2 Pro-Am category and has also secured class wins in endurance races at Sebring, Watkins Glen, and Indianapolis circuits.
Beyond his role as co-owner at Mercedes, Kurtz will take on a technology advisory position within the team. He expressed his enthusiasm, stating, “Success in both racing and cybersecurity demands speed, precision, and innovation. Every millisecond is crucial. Execution is key. Data is paramount. Technology is reshaping competitive advantages and human capabilities across various fields, including motorsport. I am thrilled to assist the team in advancing securely.”
The ownership structure of Mercedes F1 remains evenly split among three main entities. Wolff, now partnered with Kurtz, controls 33.3 percent, a matching stake to those held by Ratcliffe and the Mercedes-Benz Group based in Germany.
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