Lewis Hamilton might have missed out on first place at the 2022 Bahrain Grand Prix this weekend, but he certainly hasn’t missed out on a hefty pay packet.

The Formula One driver from Stevenage, 37, is not only one of the sport’s most successful drivers of all time, but is also - reportedly - the highest paid.

According to data collected in November 2021, Statista reports that the Mercedes driver takes home a shocking salary of $55million each year.

The Comet: Mercedes' Lewis Hamilton during day one of pre-season testing at the Circuit de Barcelona-Catalunya, Spain.Mercedes' Lewis Hamilton during day one of pre-season testing at the Circuit de Barcelona-Catalunya, Spain. (Image: PA Wire/PA Images)

That’s a staggering £41,000,000 for the F1 star who worked his way up from the McLaren young driver programme in 1998.

The salary revelation comes after the seven-time world champion said he wants to use his mother's maiden name, Larbalestier, alongside Hamilton.

He announced he had begun the process at the Dubai Expo 2020, ahead of the new Formula One season in Bahrain on Sunday, March 20.

The Comet: Lewis Hamilton's yearly salary is approximately £41,000,000.Lewis Hamilton's yearly salary is approximately £41,000,000. (Image: PA Wire/PA Images)

Hamilton said: “I am really proud of my family's name. My mum's name is Larbalestier and I am just about to put that in my name.

“I don't really fully understand the whole idea that when people get married the woman loses her name.

“I really want my mum's name to continue on with the Hamilton name.”