Nov 24, 2014 06:58 AM EST

Michael Schumacher Net Worth: A Peek On F1 Champ’s Fortune As He Makes Progress While In Long Recovery

A well-known German Formula One (F1) race car driver, Michael Schumacher has an $800 million net worth. He is currently making progress while in a long recovery due to his severe injury from a skiing accident last December.

Michael Schumacher is a retired car racing driver who has been a seven-time Formula One World Champion. According to The Richest, he has an estimated net worth of $800 million. He is considered as one of the best F1 drivers of all time and was named as "Laureus World Sportsman of the Year" twice.

"[Michael Schumacher] is statistically the greatest diver the sports has ever seen," according to the official Formula One Web site.

Michael Schumacher's career spanned from 1991 to 1996 with Jordan Benetton and Ferrari. He holds several F1's driver records comprising most championships, race victories, fastest laps, pole positions and most races won in a single season, which was in 2004 where he won 13 races. In 2002, Schumacher became the only F1 driver in history to finish in the top three in every season's race and broke the record for most consecutive platform finishes. In 2010, Celebrity Net Worth said he announced his comeback with Mercedes GP.

Aside from being the greatest race car driver, Michael Schumacher is also one of the highest paid athletes of all time with a massive net worth value. At the peak of his career, Shell paid him $10 million annually to wear a hat with the company's logo in almost all public appearances.

Meanwhile, Michael Schumacher, an F1 driver with an $800 million net worth, suffered a severe head injury from a skiing accident on December 2013 while on vacation with his family. Due to a traumatic brain injury, he was placed in a medically induced coma until June 2014. By September, he was released from the hospital and brought back to his home for further rehabilitation. His health condition has remained critical but stable.

According to Schumacher's manager, Sabine Kehm said that the former F1 star is making progress despite the severity of his injury. IBN Live reported that Kehm is also grateful for the outpouring support.

"You have to give it time. I think you really just have to have patience," she said, while adding, "The family is really very thankful and also much moved by it... I think that positive energy can have a good effect."

Last month, a French physician treating Schumacher said that he was making progress but will need years to fully recover, The Daily Mail reported.

With an accumulated fortune estimated to be $800 million, as said by Celebrity Net Worth, Michael Schumacher is well placed to provide the limitless care he needed in the coming years.

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