Mercedes has named George Kurtz, an American billionaire and the founder of cybersecurity firm Crowdstrike, as their new co-owner. Kurtz has acquired a minority stake previously owned by team principal Toto Wolff. Despite this change, Wolff will retain one-third ownership and his roles as team principal and CEO. The team’s governance structure will remain unchanged, with Kurtz joining Wolff, Mercedes-Benz CEO Ola Kallenius, and INEOS chief Sir Jim Ratcliffe on the strategic steering committee.
Wolff praised Kurtz’s diverse background, highlighting his experience as a racer, a Mercedes-AMG ambassador, and a successful entrepreneur. Kurtz’s unique blend of racing expertise and business acumen is seen as valuable for the future of Formula 1.
Kurtz now holds a 15 percent stake in Wolff’s share of Mercedes F1, a move that follows reports of a significant nine-figure transaction that values the team at approximately £4.5 billion. In addition to his business acumen, Kurtz is an accomplished racing driver, with notable victories at prestigious events like the 24 Hours of Le Mans and endurance races at Sebring, Watkins Glen, and Indianapolis.
Aside from his co-ownership role, Kurtz will also provide technology advisory services to the team. He emphasized the importance of speed, precision, and innovation in both racing and cybersecurity, noting the critical role of technology in reshaping competitive advantage across various industries, including motorsport.
Mercedes F1’s ownership structure now features three main stakeholders, each holding an equal share. Wolff, in partnership with Kurtz, controls 33.3 percent of the team, matching the ownership stakes of Ratcliffe and Mercedes-Benz Group.
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