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 the Mercedes F1 team, has obtained a minority share in team principal Toto Wolff’s ownership stake.
Wolff’s ownership consortium retains a one-third interest 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, highlighting his diverse background as a racer, a dedicated Mercedes-AMG sporting representative, and a successful entrepreneur. Kurtz’s experience in both racing and technology businesses provides valuable insights for Formula 1’s future.
Securing a 15 percent stake in Wolff’s share of Mercedes F1, Kurtz’s involvement comes amid reports that Wolff could receive a substantial nine-figure 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 entered motorsport in 2016. Notably, he clinched victory at the 2023 24 Hours of Le Mans in the LMP2 Pro-Am category and has achieved class wins at endurance events in Sebring, Watkins Glen, and Indianapolis.
In addition to his co-ownership role at Mercedes, Kurtz will also take on a technology advisory position. He emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, expressing his enthusiasm for contributing to the team’s forward progress securely.
Mercedes F1’s ownership structure now sees three main factions sharing equal ownership. Wolff, in partnership with Kurtz, controls 33.3 percent, matching the ownership held by Ratcliffe and the Mercedes-Benz Group based in Germany.
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