F1: Almost 50% of all F1 drivers live in Monaco
Monaco is home to 9 of the 20 Formula 1 drivers:
• Lewis Hamilton
• Max Verstappen
• Charles Leclerc
• Lando Norris
• Valtteri Bottas
• Sergio Perez
• Nico Hulkenberg
• Nyck de Vries
• Alex Albon
This is primarily because of three reasons.
Taxes: Monaco has no income tax, no wealth tax, no local tax, no property tax, and no capital gains tax.
Privacy: There are 12,000 millionaires living in Monaco — 1/3 of the entire population — so F1 drivers don’t have to deal with crazy fans. And with the government requiring written permission for all professional photography, there are also fewer paparazzi.
Location: The Nice airport is only 15 miles from Monaco, which is especially important because F1 drivers will travel over 75,000 miles this year alone.
And, of course, it doesn’t hurt that Monaco’s weather is incredible, and the views are equally spectacular.
** If you want to learn more about the business behind this year’s Monaco Grand Prix (race fees, sponsorship fights, yachts, etc.), Joe Pompliano released a podcast yesterday that breaks down everything you need to know.