Home NET WORTH Kevin Magnussen Net Worth 2022, Age, Wife, Children Height, Family, Parents, F1,...

Kevin Magnussen Net Worth 2022, Age, Wife, Children Height, Family, Parents, F1, Salary

Kevin Magnussen net worth

Read the complete write-up of Kevin Magnussen net worth, age, wife, children, height, family, parents, F1 as well as other information you need to know.


Kevin Magnussen is a Danish racing driver competing in the 2022 Formula One World Championship for Haas F1 Team. He came up through McLaren Formula One team’s Young Driver Programme and drove for McLaren in the 2014 Formula One World Championship, before a stint with Renault in 2016. Magnussen drove for Haas from 2017 until the end of the 2020 season. Following the termination of Nikita Mazepin’s contract with Haas, they announced Magnussen to be making a last-minute return to F1 in 2022.

Early life

NameKevin Magnussen
Net Worth$5 million
OccupationRacing Driver
Age29 years
WifeLouise Gjørup
Kevin Magnussen net worth 2022

Kevin Jan Magnussen was born on October 5, 1992 (age 29 years) in Roskilde, Denmark. He is the son of four-time Le Mans GT class winner, GM factory driver and former Formula One driver Jan Magnussen and Britt Peterson. His brother is Luca Magnussen. Kevin began his career in karting. In 2008 he made the step up to Formula Ford in Denmark, taking 11 victories from 15 races and winning the championship. He also took part in six races of the ADAC Formel Masters series.

Magnussen moved up to Formula Renault 2.0 with Motopark Academy in 2009. He finished runner-up to António Félix da Costa in the Northern European Cup and finished seventh in the Eurocup. In 2010 Magnussen competed in the German Formula Three Championship with Motopark Academy, winning the opening round of the season at Oschersleben and taking two more race victories. He finished third in the championship, taking the rookie title in the process.

In 2011 Magnussen moved to the British Formula 3 Championship with Carlin. He took seven race victories and finished as championship runner-up to teammate Felipe Nasr. He also competed in the Masters of Formula 3 race at Zandvoort, finishing 3rd. 2011 marked Magnussen’s first and only appearance at the Macau Grand Prix. He placed 7th in qualifying but was forced to start from the back of the grid in the qualification race after ignoring yellow flags. He started the main race from 19th place, but was eliminated after a high-speed collision late in the race.

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Magnussen moved up to the Formula Renault 3.5 Series in 2012 with the Carlin team, with Will Stevens as his teammate. Magnussen finished the opening race at Motorland Aragón in 2nd place, and took pole position in both races at Spa-Francorchamps, converting the second into a race victory. He ended the season in 7th place in the championship. He remained in Formula Renault 3.5 for 2013, moving to DAMS alongside Norman Nato. 2013 was far more successful for Magnussen, claiming five victories, eight other podium places and eight pole positions. He finished the season as champion, 60 points clear of runner-up Stoffel Vandoorne.


Kevin Magnussen had his first experience of the McLaren MP4-27 Formula One car on track at the Abu Dhabi Young Driver test in 2012. He set the quickest time of 1:42.651. Previously he had done work in the team’s driving simulator. Magnussen’s time was the best of the three-day test impressing McLaren’s sporting director Sam Michael. The distance he covered in the course of the test was sufficient to earn his FIA Super Licence.

Magnussen would drive for McLaren for the 2014 season, replacing Sergio Pérez. In line with a new rule introduced for the 2014 season requiring drivers to choose a car number to use during their Formula One career, Magnussen raced with number 20 as this was the number he had on his DAMS car in 2013 when he won the Formula Renault 3.5 championship.

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At the Jerez and Bahrain pre-season tests, he topped the timesheets, and at the first race in Australia, he qualified in the fourth position. In the race itself, Magnussen avoided crashing at the start after his car encountered oversteer through wheelspin. After passing Lewis Hamilton’s ailing Mercedes in the early stages, Magnussen maintained position to take a third-place finish; he finished 2.2 seconds behind Red Bull’s Daniel Ricciardo. As a result, Magnussen became only the second Danish driver – after his father Jan, who was sixth at the 1998 Canadian Grand Prix – to take a points-scoring finish, and the first debutant, since Hamilton at the 2007 Australian Grand Prix, to take a podium in his first Grand Prix. After the race, Magnussen described the result as “like a victory”.

He was later promoted to second place in the results, after Ricciardo was disqualified due to fuel irregularities, making him the first rookie to finish second since Jacques Villeneuve at the 1996 Australian Grand Prix. Magnussen recorded eleven further points-scoring finishes throughout 2014, the majority being ninth- or tenth-place finishes; although Magnussen recorded seventh-place finishes in Austria and Great Britain – circuits where he had prior experience from junior formulae – and a fifth-place finish in Russia.

Fernando Alonso replaced Magnussen for the 2015 season and Magnussen became the test and reserve driver for McLaren. Magnussen had talks with Honda-powered team Andretti Autosport to compete in the 2015 IndyCar Series, but McLaren blocked the deal. Magnussen competed in one race, the Australian Grand Prix after doctors advised Alonso to not race due to a concussion sustained during an accident during pre-season testing. However, Magnussen failed to start the race after suffering an engine failure on the formation lap. Magnussen was released from McLaren at the end of the year.


Kevin Magnussen was confirmed to have been in discussion to drive for the Haas F1 Team, before Romain Grosjean and Esteban Gutiérrez were named as the team’s drivers after being released by McLaren. Magnussen had reportedly also been in talks about a seat at Manor Racing. Magnussen tested a Mercedes DTM car, and Porsche’s LMP1 car, hinting that he may have had options outside Formula One, including IndyCar, where he was believed to have entered talks with Bryan Herta Autosport about a drive. In early 2016 unconfirmed reports emerged that Magnussen was set to replace Pastor Maldonado at Renault following a breach of contract between Maldonado and the team. Renault had purchased the Lotus F1 Team and were returning to the sport after a four-year hiatus. Renault later confirmed Magnussen had joined their 2016 campaign, partnering rookie Jolyon Palmer.

Magnussen’s early season was marred by a string of incidents. He suffered a puncture on the opening lap in Australia and went on to finish 12th. He was forced to start from the pit lane in Bahrain after failing to stop for the weighbridge in practice. He then crashed in practice for the Chinese Grand Prix after a tyre failure and could only finish the race in 17th.

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He collided with teammate Palmer in Spain and received a ten-second time penalty, then crashed in practice in Monaco before colliding with Daniil Kvyat in the race. He was forced to miss qualifying in Canada after again crashing during practice, and started from the pit lane in Azerbaijan when his car was modified under parc fermé conditions. The Russian Grand Prix was an exception to these incidents; after qualifying 17th he came back to finish 7th in what would eventually be Renault’s best finish of the season.

Kevin Magnussen had a gearbox failure in the closing laps of the British Grand Prix. He suffered a high-speed crash at the Eau Rouge–Raidillon complex whilst running 8th at the Belgian Grand Prix, causing minor injuries and bringing out the red flag. Magnussen claimed his second and final points-finish of the season with 10th place in Singapore. Two more mechanical retirements came before the end of the season; power loss in Malaysia and suspension damage in Abu Dhabi. Magnussen finished the season in 16th place in the championship, scoring seven of Renault’s eight points that season.


Kevin Magnussen signed a contract with Haas for 2017, joining Romain Grosjean and replacing Esteban Gutiérrez. Magnussen retired from his first race with Haas in Australia with reported suspension failure, however, it later emerged that he had actually suffered a puncture and that his retirement was unnecessary. He scored points with 8th place at the following race in China before retiring with electrical problems in Bahrain. He was running 9th in Spain but made contact with Daniil Kvyat late in the race, causing him to fall to 14th with a puncture. He would claim a point with 10th place at the next race in Monaco, in what was Haas’s first-ever double points finish. At the Azerbaijan Grand Prix, Magnussen had run as high as 3rd towards the end of the race in the uncompetitive VF-17, but eventually finished 7th in what would be his best result of the season.

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A string of seven races without points followed. This included a hydraulic failure in Austria, engine issues in Singapore, and an incident in Hungary where he forced Nico Hülkenberg off the track, damaging Hülkenberg’s car and forcing him to retire. Hülkenberg confronted Magnussen after the race, branding him the “most unsporting driver on the grid”. Magnussen ended the season with two 8th-place finishes in Japan and Mexico, but collided with former Formula Renault rival Stoffel Vandoorne in Brazil, causing both cars to retire. Magnussen ended the season 14th in the championship with 19 points, nine points short of teammate Grosjean.

Kevin Magnussen retained his seat at Haas for the 2018 season. The Haas VF-18 was a vast improvement on its predecessor, enabling Magnussen to compete at the front of the midfield. At the opening race in Australia, Magnussen lined up 5th on the grid, Haas’s highest ever starting position. He had run as high as 4th, however, both Haas cars would retire from the race after their wheels were fitted incorrectly during their pit stops. Magnussen then finished 5th in Bahrain, his best result since the 2014 Russian Grand Prix. At the Azerbaijan Grand Prix he collided with Pierre Gasly, who criticised Magnussen’s defensive driving and branded him “the most dangerous guy” he had ever raced with.

Magnussen scored valuable points again with a 6th-place finish in Spain. Another 6th place came in France, followed by 5th place in Austria behind teammate Grosjean, the team’s best-ever race result. More points finishes soon followed with 9th in Britain, 7th in Hungary and 8th in Belgium. At the Italian Grand Prix, Magnussen clashed for a position with Fernando Alonso in qualifying. Magnussen later commented that Alonso “thinks he’s God” and “I can’t wait for him to retire”.

He collided with Sergio Pérez during the race, damaging the Haas’s floor and eventually causing Magnussen to finish last of the running cars in 16th. Similar woes came in Singapore, when he failed to progress out of the first part of qualifying and he struggled to overtake during the race, finishing 18th. However, he set the fastest lap of the race after a late pit stop for fresh tyres, his and the team’s first fastest lap. Magnussen then qualified 5th and finished 8th in Russia.

More controversy came at the Japanese Grand Prix, when Sauber driver Charles Leclerc called Magnussen “stupid” over the radio after his attempt to pass the Haas resulted in contact. Kevin Magnussen received a puncture, which damaged his floor and forced him into retirement. He finished the United States Grand Prix in 9th place, but was later disqualified after his car was found to have used more than the legal limit of fuel. Magnussen ended the season with two more points finishes, 9th in Brazil and 10th in Abu Dhabi. He finished the season 9th in the championship with 56 points, his best ever finish and 19 points clear of teammate Grosjean.

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Magnussen continued to drive for Haas for the 2019 season alongside Grosjean. Unfortunately for Magnussen, the Haas VF-19 proved uncompetitive and became more so as the season went on. The car often performed well during qualifying but suffered during the race. At the first race in Australia, Magnussen finished 6th in what would later turn out to be his best finish of the season. He finished 13th at the next three races, despite having qualified in the top ten in two of them. He recorded another points finish in Spain, finishing 7th.

Poor finishes followed at the next five races. In Austria, Kevin Magnussen showed the strong qualifying pace of the VF-19 by qualifying in 5th, before a gearbox penalty dropped him to 10th on the grid. During the race he was found to have over-stepped his grid line at the start, receiving a drive-through penalty and eventually finishing the race in 19th place. In Britain, Magnussen and teammate Grosjean made contact on the first lap, causing race-ending damage for both drivers. Both were blamed and criticized for the incident, at a race in which Grosjean was testing the old spec of the VF-19 so that the team could understand their recent lack of pace.

Magnussen next scored points at the rain-affected German Grand Prix, finishing 10th before being promoted to 8th after the Alfa Romeo drivers were penalized post-race for the use of driver aids. He retired in Italy with a hydraulics issue, before setting the fastest lap at the next race in Singapore, a feat he had achieved at the same race in 2018.

He was not awarded a point for this as he finished in 17th place—a driver must finish in the top ten to be awarded the fastest lap point. A 9th-place finish in Russia would be his fourth and final points finish of the season. His third retirement of the season came in the United States when he suffered a brake failure on the penultimate lap. Magnussen finished the season in 16th place in the championship with 20 points, 12 points ahead of teammate Grosjean.

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Magnussen continued driving for Haas in 2020, again partnering Grosjean. The opening two rounds of the championship at the Red Bull Ring proved to be difficult for Magnussen and Haas, as the Haas VF-20 was off the pace. In the early stages of the Hungarian Grand Prix, Magnussen was running third, thanks to a strategy decision at the beginning of the race. Whilst he ultimately fell back throughout the race, he managed to cross the finish line in ninth.

After the race, it was determined that Haas had broken rules regarding team radio in telling both drivers to pit at the end of the formation lap, and Magnussen was given a ten-second penalty. This demoted him to tenth, and Magnussen claimed his and Haas’ first point of the year. Magnussen suffered a power unit failure at the Italian Grand Prix and was rear-ended in a multi-car accident at the Tuscan Grand Prix, his fifth retirement in nine races. Kevin Magnussen left Haas at the end of 2020. Magnussen rejoined Haas as a replacement for Nikita Mazepin, whose contract had been terminated following the 2022 Russian invasion of Ukraine.

Sports car racing

Kevin Magnussen tested for Porsche in a Porsche 919 Hybrid in November 2015, on Circuit de Barcelona-Catalunya. No contract was made since Magnussen continued in Formula One for Renault in 2016. Magnussen competed in the WeatherTech SportsCar Championship in 2021, driving the No. 01 Chip Ganassi Racing DPi car alongside Dutch driver Renger van der Zande. On 12 June, he won his first race at the Detroit Grand Prix. Magnussen ended the season 7th.

On 23 April, it was announced that Kevin Magnussen will drive the No. 49 High-Class Racing LMP2 car with his father Jan Magnussen and Anders Fjordbach in the 2021 24 Hours of Le Mans. He classified 29th in the overall standings and 17th in the LMP2 class. On 8 February 2021, it was announced that Magnussen will be a part of the driver line-up for Peugeot Sport in the 2022 FIA World Endurance Championship season.

Magnussen competed in the WeatherTech SportsCar Championship in 2022, as 3rd driver in the No. 02 Chip Ganassi Racing DPi car alongside Earl Bamber and Alex Lynn. Magnussen was released from his contracts with Peugeot and Chip Ganassi Racing after returning to F1 with Haas in 2022.


Kevin Magnussen is married to his longtime girlfriend Louise Gjørup, they had their wedding in 2019 in a private ceremony. In 2021, Louise gave birth to their first child, 7 weeks premature. Magnussen lived in Woking, Surrey, near the McLaren Technology Centre whilst racing for McLaren. He now lives in Dubai with his wife Louise Gjørup. Between participating in Formula Ford in 2008 and unexpectedly securing sponsorship for Formula Renault in 2009, Magnussen was forced to abandon his racing career and work as a factory welder due to lack of funding.

Kevin Magnussen net worth

How much is Kevin Magnussen worth? Kevin Magnussen net worth is estimated at around $5 million. His main source of income is from his career as a racing driver. Magnussen successful career has earned him some luxurious lifestyles and some fancy cars trips. He is one of the richest and influential motorsports racing drivers in Denmark. However, in June 2021, Magnussen was drafted in by Arrow McLaren SP to fill in for the injured Felix Rosenqvist at the Grand Prix of Road America. During the weekend Magnussen qualified 21st and ultimately retired with mechanical issues during the race.

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