Inside Kevin Magnussen’s Fortune: A Look at the Danish Racing Driver’s Net Worth In 2023

How much is Kevin Magnussen worth in 2023? Let’s take a look

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Kevin Magnussen Career

Danish racer Kevin Magnussen has established himself as a top contender in a number of international motorsports series. His father, Jan Magnussen, also raced in Formula One and other championships, and he was born on October 5, 1992, in Roskilde, Denmark.

At an early age, Magnussen began his racing career in karting, where he quickly rose to prominence in Denmark and around Europe. Then, in 2008, he won the Danish Formula Ford Championship and again in 2010, he won the Formula Renault 2.0 Northern European Cup, proving his mettle in single-seater racing. With these victories under his belt, he was recognised as a rising star in European auto racing.

Magnussen began racing in the Formula 3 Euro Series in 2011, finishing second that year to future F1 driver Daniel Ricciardo. He won the championship the following season by claiming nine victories in as many races and placing on the podium fourteen times. McLaren saw potential in him and signed him as a junior driver, starting him on the path to a career in Formula One.

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With Jenson Button, Magnussen made his Formula One debut for McLaren in 2014. He made history as the first Dane to ever finish on the F1 podium by placing second at the Australian Grand Prix. His results were all over the place, and he had a hard time keeping up with Button. Magnussen had 55 points, while Button had 126. After Fernando Alonso took up the driver position for the 2015 season, he spent the year on the sidelines.

In 2016, Magnussen raced for the newly formed Haas F1 Team, marking his comeback to Formula One after a two-year absence. The 28-year-old has made no secret of his ambition to get back into the game and is eager to take on the challenge of competing against Haas.

Magnussen expressed his excitement about rejoining F1 and racing for the Haas F1 Team. I can’t wait to go to work and contribute to the team’s success. I’m excited to begin this new year.


Magnussen’s addition has been welcomed by team principal Guenther Steiner.

“Kevin was the obvious choice when looking for a driver who could contribute value to the team and a plethora of Formula 1 expertise,” stated Steiner.

Magnussen is cognizant of the difficulty of the task ahead, what with Aston Martin’s significant improvement during the winter.

“I’m convinced they will be a force to be reckoned with this season,” Magnussen said, after hearing that “Aston Martin has taken a tremendous step during the winter.”

The Dane is excited about the opportunity to compete against his former teammate, the Frenchman Romain Grosjean, who is currently driving for the American squad.

He boosted Haas’s Constructors’ Championship standing from tenth to ninth with points in every race he entered this season. Magnussen remained with Haas for the 2017 season, where he collected 19 points and finished as high as eighth in the Azerbaijan Grand Prix. In 2018, he made further more progress, scoring 56 points and finishing tenth in the Drivers’ Championship, one place higher than teammate Romain Grosjean.

Kevin Magnussen Net Worth

In 2023, Kevin Magnussen’s fortune is predicted to reach $25 million. He reportedly made $500,000 annually at both McLaren and Renault but $2 million annually at Haas. According to GP Fans, Magnussen’s annual salary from Haas is $6 million (or £5 million).

He also oversees the operations of his e-commerce store, the KM20 Collection.

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His home is a luxurious mansion that is 6,900 square feet. Kevin Magnussen reportedly purchased around $10,000,000 USD for this mansion. He just spent $1 million on a Lamborghini Aventador. In addition, Kevin Magnussen owns a Bugatti Chiron that costs an estimated $3 million. In addition to his Volvo XC60, he also has access to a Land Rover Discovery and a Ferrari Portofino.

Magnussen stayed with Haas for the 2019 and 2020 seasons, however the team’s cars were slow and Magnussen was unable to accumulate more than a single point either year. Despite this, he continued to perform well and showed glimpses of his potential during qualifying and race trim. However Haas made it clear at the end of the 2020 season that neither Magnussen nor Grosjean would be retained for the next year, and Magnussen started looking into alternative motorsport options.

Magnussen will be driving a Cadillac DPi-V.R for Chip Ganassi Racing in the IMSA WeatherTech SportsCar Championship alongside Renger van der Zande beginning in 2021. His first major sports car victory came in his maiden race, the Rolex 24 Hours of Daytona, which Magnussen won with his teammates.

Magnussen is now able to display his skills in a different type of motorsport thanks to his switch to sports cars. In the IMSA WeatherTech SportsCar Championship, he has proved that he is a fast, consistent driver who can handle a wide variety of vehicles and courses. Magnussen has stated his intention to return to F1 in the future, and his results in sports cars may help him catch the eye of F1 teams searching for skilled drivers.

Richard Olson
Richard Olson
Hi, I'm Richard Olson and I'm a seasoned entertainment writer with a background in film criticism. I've been writing about the entertainment industry for over 15 years and have contributed to a variety of print and online publications. My expertise lies in analyzing the deeper themes and meanings behind popular movies and TV shows, and I'm always on the lookout for the next big thing in entertainment. Follow me for thought-provoking insights and reviews of the latest releases.

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