Michael Schumacher Net Worth Totals to $780 Million; Hailed as F1's Richest Driver

Michael Schumacher recently emerged at the top spot in a report estimating the net worth of the richest Formula One drivers.

International Business Times reported that the former seven-time world champion was listed as the richest F1 driver by Wealth-X, a wealth intelligence company, with a recorded net worth of $780 million. Many of the drivers who were included in the list are still actively joining F1 races. Schumacher retired from racing in 2012.

Christian Times reported that Schumacher is currently recovering from traumatic brain injuries that he suffered after a skiing accident in December 2013. The German racer is still going through rehabilitation treatment at his home in Lake Geneva, Switzerland. During his recovery period, he lost two endorsement deals but is still the richest driver in Formula One.

His family remains optimistic that he will be returning to full health very soon, although there is still no definite timeframe as to his recovery. He is reportedly showing minor signs of improvement.

Based on the same report by International Business Times, Schumacher's net worth is estimated to consist of 43 percent of the total earnings of all other F1 racers who were part of the richest list. Some of the retired racers include Eddie Irvine at No. 4, who has an estimated net worth of $180 million, Alan Prost at No. 7 and David Coulthard at No. 8, who have an estimated net worth of $70 million each.

Fernando Alonso is listed at No. 2 with $220 million. Kimi Raikkonen has placed third with $180 million. Lewis Hamilton is fifth with $110 million. Jenson Button is sixth with $100 million. Sebastian Vettel took the ninth place with $45 million and Nico Rosberg rounded out the top ten richest with $30 million.

In another IBT report, Hamilton is the current world champion, starting the 2015 season with a big win at the Australian Grand Prix. His teammate, Rosberg, is number two in the world championship standings of the past year. Vettel, 27, is Raikkonen's teammate and the youngest driver in the richest list. The oldest is Prost, 60.

Alonso has been listed by Forbes as the 21st highest paid athlete in the year 2014. Recently, Alonso was also dubbed as F1's most marketable athlete. Alonso missed the first race of the season after crashing his car during the third pre-season testing in Barcelona, Spain. He will most likely return to action at the 2015 Malaysian Grand Prix if he is shown to be healthy enough. Button is Alonso's teammate.