Toto Wolff sells part of Mercedes F1 stake to CrowdStrike CEO
Toto Wolff offloads a part of his holding company that owns shares in the Mercedes Formula 1 team
Toto Wolff, Mercedes
Photo by: Lillian Suwanrumpha / AFP via Getty Images
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CrowdStrike's George Kurtz has acquired 15% of Toto Wolff's holding company, representing 5% of shares in the Mercedes F1 team.
Kurtz, the CEO and founder of cybersecurity firm Crowdstrike, came on board as a Mercedes sponsor in 2019 and has now become an owner, as well as joining the team as Technology Advisor.
Kurtz has personally acquired 15% of the holding company controlled by Mercedes F1 CEO Wolff, which holds one third of the shares in the Mercedes F1 team, with the Brackley squad's shares split three ways with Mercedes-Benz and British chemical giant Ineos.
The team announced Kurtz will also join the team's strategic steering committee alongside Mercedes chairman Ola Kallenius, Ineos chief Sir Jim Ratcliffe and Wolff, while advising the team on its technology strategy.
Otherwise, the leadership structure of the team remains unchanged, with Wolff remaining in place as CEO and team principal.
"George's background is unusual in its breadth: he's a racer, a loyal sporting ambassador for Mercedes-AMG, and an exceptional entrepreneur," Wolff said. "He understands both the demands of racing and the realities of building and scaling technology businesses. That combination brings specific insight that is increasingly relevant to the future of Formula 1."
Kurtz, who is an experienced sportscar racer, added: "Winning in racing and cybersecurity requires speed, precision, and innovation. Milliseconds matter. Execution counts. Data wins.
"Technology is reshaping competitive advantage and human capability everywhere, including motorsport. I'm excited to help the team securely accelerate forward."
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