F1 drivers live in some of the most glamorous places in the world. An expensive sport often comes with an expensive lifestyle. But where do <\/span>all<\/span><\/em> of the 2023 Formula 1 drivers live?<\/span><\/p>\n Monaco holds a very important place in F1 history. It hosts one of the most iconic street circuit races in the world, the Monaco Grand Prix<\/a>. <\/span>Monaco is often referred to as the \u201cplayground for millionaires\u201d or a \u201ctax haven\u201d. With over 27,000 millionaires, Monaco is the richest country in Europe per capita.<\/span><\/p>\n The primary reason why F1 drivers choose Monaco as their home is the zero income tax for residents. In other words, you get to keep all the money you earn. That\u2019s the main aspect of what makes Monaco such a magnet for wealthy people in general.<\/p>\n It\u2019s no secret that F1 drivers have a high income. If you take a look at the annual salary of Max Verstappen ($50m), Lewis Hamilton ($35m), and <\/span>others, it\u2019s logical for them to live in a place like Monaco.<\/span><\/p>\n Lando Norris is the most recent driver who moved to Monte-Carlo back in early 2022. In an interview he explained the reasons for his decision:<\/p>\n \u201dThe reasons why are very obvious. [\u2026] It\u2019s something that obviously a lot of drivers do and especially, with how racing is, I think we\u2019ve seen for other drivers how quickly things can also go downhill and so on. I have to look after my things for my future.\u201d<\/p><\/blockquote>\n Lando Norris announced yesterday that he is moving to Monaco, joining 12+ F1 drivers that currently live there.<\/p>\n If he stays there for 6 months & 1 day each year, Norris won't pay any income tax, capital gains tax, wealth tax, or inheritance tax.<\/p>\n Plus, it's safe & beautiful. pic.twitter.com\/uyaunQtxDM<\/a><\/p>\n — Joe Pompliano (@JoePompliano) December 1, 2021<\/a><\/p><\/blockquote>\nMonaco <\/span><\/h3>\n
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