Not only is Monaco home to one of the most prestigious Grand Prix races, but it’s also home to a number of current and ex-F1 drivers. Read on to find out who on the F1 driver’s grid resides in the glitz and glamour of Monaco.
Why Do F1 Drivers Live In Monaco?
Monaco is the home and playground of multiple F1 drivers and former F1 drivers. But it’s not just racing drivers that live in Monaco, it’s home to some of the richest people on the planet. So, if you’re a young Formula One driver earning some serious cash, then Monaco is the perfect place to hang out with other rich and famous people.
The one benefit of living in Monaco if you’re rich and famous is that being rich and famous is considered normal there. So you’re more likely to fit in than anywhere else in the world. Another benefit to this is that Monaco is a very safe place to live.
Of course, it’s not just that. Monaco is situated on the French Riviera and sits directly on the shores of the Mediterranean Sea. Its location also means there’s great weather all around, and it has a pretty central location in Europe with Nice airport just 30 minutes away (or 7 via helicopter), meaning traveling from Monaco to the rest of Europe is straightforward.
With the majority of F1 teams based in the UK, then travel time from Monaco to the UK is an important factor.
One other small benefit of living in Monaco is the tax. Or to be more accurate, the lack of tax. If you’re a resident of Monaco, then you don’t get taxed on any personal income that you earn. Considering some F1 drivers get paid $55 million per year, then it makes sense for them to avoid paying as much tax as possible.
Which F1 Drivers Live In Monaco?
- Lewis Hamilton
- Charles Leclerc
- Max Verstappen
- Lando Norris
- Valteri Bottas
- Sergio Perez
- Alex Albon
- Nyck de Vries
Charles Leclerc is actually Monagasgue and was born and raised in Monaco, so it’s no surprise the Ferrari driver has chosen to live in Monaco. Leclerc is the first F1 driver to become an F1 driver since 1994, and no doubt he feels extra pressure during the Monaco Grand Prix, which he has never won, despite qualifying in pole position in 2022 and 2021.
Lewis Hamilton moved to Monaco from Switzerland in 2012, with the move causing more comments from British media about not paying tax on his earnings in Britain. Hamilton’s former residence, Switzerland, also has generous tax benefits.
Hamilton also owns houses in London and New York, but still spends the majority of his time in Monaco.
Two-time Formula One World Champion is another driver that lives in Monaco, having moved there in October 2015, just after he turned 18.
Lando Norris moved to Monaco earlier this year (2022), and was very honest as to why he moved:
“The reasons why are very obvious and I’ve said the reasons why”.
“There’s probably drivers in the paddock here who get to F1 and make some decisions because they expect their career in F1 to maybe be 10 years, and it can turn into one year or two years. This can be life-changing for yourself for 20, 30, 40 years’ time. Anyone else in the world in my position, they would probably do something very similar.”
Ex F1 Drivers Who Live In Monaco
David Coulthard, who defended Lewis Hamilton when he moved to Monaco, has lived in Monaco since 1995. Jenson Button, who won the World Championship in 2009, also lives in Monaco, having moved there when he was still racing in F1.
Where Do Other F1 Drivers Live?
Whilst there’s a large group of F1 drivers that live in Monaco, the majority of them live elsewhere.
Where does George Russell live?
George Russell currently lives in London, but since his move to Mercedes, he’s revealed he has plans to move to Monaco in the near future.
Where does Carlos Sainz live?
Carlos Sainz is famous for living close to the team’s factory. After joining Ferrari in 2021, the Spaniard moved close to the Ferrari factory in Maranello so he could spend more time in the factory with the Ferrari team. When Sainz was driving for McLaren, he moved into a flat near Woking to ensure he was close to the team’s factory.
Where does Pierre Gasly live?
Pierre Gasly currently lives in Milan, Italy. However, this may change since his move to Alpine from Alpha Tauri for the 2023 season. Alpha Tauri were also based in Italy, so the Frenchman may choose to move to the UK (where the team is based) or move to Monaco.