CrowdStrike CEO George Kurtz invests in Mercedes F1 team, eyes U.S. market and technology growth
CrowdStrike founder and CEO George Kurtz has officially bought into the Mercedes Formula One team, acquiring 15% of the one-third stake held by team principal Toto Wolff, the parties announced Thursday. Media reports indicate that the deal values the former champions at a record $6 billion.
The other shareholders—Toto Wolff, Mercedes-Benz, and Ineos—each hold one-third stakes, and the team’s governance and leadership remain unchanged following the acquisition, News.Az reports, citing Reuters.
Kurtz, who has previously competed at Le Mans and other endurance racing events, will serve as the team’s technology adviser and join the strategic steering committee alongside Wolff, Mercedes-Benz chairman Ola Kaellenius, and Ineos founder Jim Ratcliffe.
CrowdStrike has been a Mercedes F1 partner since 2019, featuring branding on the team’s cars and apparel.
In a video call with reporters, Kurtz said the $6 billion team valuation aligns with market trends and is expected to grow, particularly due to a young, tech-savvy U.S. audience drawn to Formula One.
“We see a huge opportunity to grow the sport, especially in the U.S. and within the technology space where we can attract more sponsors,” Kurtz said.
“Technology has always been and will continue to be a key performance advantage in F1. Those who can unlock it will gain the best results.”
Mercedes dominated the sport with eight consecutive constructors’ championships from 2014 to 2021 and currently ranks second overall behind McLaren, which also uses Mercedes engines.
Kurtz highlighted the rising number of female fans and the untapped potential in the U.S. market, citing the popularity of Netflix’s “Drive to Survive” series and Brad Pitt’s upcoming F1 movie as evidence of growing interest.
“It’s a thriving business, and if there’s more market opportunity—especially in the U.S.—valuations are likely to grow. Can it reach the level of the NBA or NFL? I think so. That’s why I invested,” he said.
The entrepreneur suggested that he may explore other sports investments, noting his current portfolio includes real estate holdings.
“We’re always evaluating opportunities in sports. We like the NBA, hockey, and other areas. It must be the right fit and team, but we remain open to possibilities,” Kurtz added.
Despite taking a stake in Mercedes F1, Kurtz confirmed his focus remains on CrowdStrike, emphasizing that Toto Wolff will continue to lead the team.
“My day job is CrowdStrike, which took 14 years to build. Toto is the leader at Mercedes, and that won’t change,” he said.
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