Bernie Ecclestone: The Billionaire Who Built Formula One
Bernie Ecclestone is not merely a man who ran a sport. He is the man who built it. For four decades, the diminutive British businessman with the impish grin and the iron will transformed Formula One from a dangerous, disorganized pastime into a multi-billion-dollar global spectacle. He bullied, bluffed, and charmed his way to the top, amassing a fortune that ranks him among the wealthiest sports figures on the planet. Even at 95, with his empire long since sold, Ecclestone remains one of the most fascinating and controversial figures in the world of sport.
Quick Facts
| Attribute | Details |
|---|---|
| Full Name | Bernard Charles Ecclestone |
| Born | 28 October 1930, in St. Peter, South Elmham, Suffolk, England |
| Age | 95 |
| Nationality | British |
| Education | Dartford West Central Secondary School; Woolwich Polytechnic (degree in chemical engineering) |
| Known For | Former CEO of Formula One Management; former owner of the Brabham racing team |
| Residence | Gstaad, Switzerland |
| Spouse | Ivy Bamford (m. 1952; div. 1967); Slavica Radić (m. 1985; div. 2009); Fabiana Flosi (m. 2012) |
| Children | 4 (Deborah, Tamara, Petra, and Ace) |
Early Life
Bernard Charles Ecclestone was born on 28 October 1930 in St. Peter, South Elmham, a tiny hamlet in Suffolk, England. He was the son of a fisherman. The family later moved to Kent, where Ecclestone attended Dartford West Central Secondary School.
Ecclestone left school at 16, the legal leaving age at the time, and took a job at the local gas board. He was a restless young man with little interest in a conventional career. He began trading spare parts for motorcycles, then graduated to selling cars and motorcycles from a dealership he established in Bexley, Kent. He also studied chemical engineering at Woolwich Polytechnic, earning a degree.
A Brief Racing Career
Ecclestone’s first foray into motorsport came in 1949 when he began driving in Formula 3 races. He was a competent driver, but his career was cut short by a serious crash. The accident ended his racing ambitions, but it did not end his involvement with the sport. Instead, it marked the beginning of a far more consequential chapter.
Career
From Team Owner to F1 Power Broker
Ecclestone’s ascent in Formula One began in earnest in 1972 when he purchased the Brabham racing team from Ron Tauranac. He paid around $100,000 for the team. As a team owner, he became a member of the Formula One Constructors Association (FOCA), a body that represented the interests of the teams.
Ecclestone saw an opportunity. The sport was fragmented, with circuit owners and the FIA (the governing body) controlling the commercial rights. The teams were struggling for money. Ecclestone realized that if the teams could unite, they could negotiate collectively for a larger share of the revenue.
In 1974, Ecclestone helped form the Constructors Association. He became its chief executive in 1978. Over the next decade, he orchestrated a quiet revolution. He negotiated television rights deals, sold promotional rights, and took control of the sport’s commercial operations. He established Formula One Promotions and Administration (FOPA) to manage the sale of the sport’s commercial rights.
The Man Who Owned F1
Ecclestone’s control over Formula One became absolute. Through a web of companies, he controlled the commercial rights to the sport. He struck lucrative deals with broadcasters and race promoters. He sold 50% of one of his companies, Slec Holdings, to German broadcaster EM.TV in 2000 for a reported $1.6 billion. He later sold a 75% stake in SLEC, the company that held the commercial rights, to the Kirch Group.
Ecclestone’s genius was in understanding that Formula One was not just a sport but a premium entertainment product. He took it to new markets, negotiated contracts with governments, and built a global brand.
The Sale to Liberty Media
In 2016, Ecclestone finally stepped away from the sport he had built. He sold Formula One to Liberty Media, the American media conglomerate owned by John Malone, for a staggering $8.5 billion. The sale cemented his status as one of the wealthiest sports executives in history.
Major Achievements
- Built Formula One into a global empire: Transformed a niche racing series into a multi-billion-dollar international sport.
- CEO of Formula One Management: Controlled the commercial rights to F1 for more than 30 years.
- Owner of the Brabham team: Ran the team for 15 years, selling it in 1988 for $5 million.
- Forbes billionaire: Ranked among the world’s wealthiest people, with a net worth of $2.6 billion.
- Topped the Sunday Times Rich List: Named the wealthiest sports figure in the UK in 2026, with a family fortune of £2 billion.
- Negotiated the $8.5 billion sale of F1: Orchestrated the sale of the sport to Liberty Media in 2016.
Business Ventures
Ecclestone’s business empire was built almost entirely around Formula One. His primary venture was Formula One Management (FOM), the company that held the commercial rights to the sport. Through FOM, he negotiated television contracts, sponsorship deals, and race hosting fees.
He also owned the Brabham racing team for 15 years. He sold the team in 1988 for $5 million.
Ecclestone has also been a collector of rare and valuable cars. In 2025, he sold his legendary collection of Formula One cars for more than $650 million to the heir of the Red Bull fortune.
He is also a significant property owner. He owns homes in Gstaad, Switzerland, where he now resides, and has owned properties in Corsica and elsewhere.
Public Image
Bernie Ecclestone is a man of contradictions. To his admirers, he is a visionary who saved Formula One from obscurity. To his critics, he is a ruthless businessman who put profit above the sport.
He is known for his blunt, often controversial, statements. He has been accused of misogyny, racism, and authoritarianism. In 2014, he was embroiled in a high-profile bribery trial in Germany, though he was eventually acquitted.
In 2025, he was ordered to pay a record £652 million tax bill after a court found he had failed to declare a trust fund held in Singapore. Ecclestone described the ruling as “unfair,” but he paid it.
Despite the controversies, Ecclestone remains a revered figure in the paddock. He continues to attend races, and his presence is always noted.
Personal Life
Bernie Ecclestone has been married three times.
He married his first wife, Ivy Bamford, in 1952. They had a daughter, Deborah, born in 1955. The couple divorced in the 1960s.
His second wife was Slavica Radić, a Croatian model. They began their relationship in 1984, when Slavica became pregnant with their first child. They married in 1985 and had two daughters, Tamara and Petra. The couple divorced in 2009.
In 2012, Ecclestone married his third wife, Fabiana Flosi, a Brazilian lawyer who is 46 years his junior. They have a son, Ace (Alexander Charles Ecclestone), born in July 2020. Ace was born when Ecclestone was 89 years old. His family life is unconventional: his eldest daughter Deborah is 70, while Ace has just begun first grade.
The family resides in the resort town of Gstaad, in the Swiss Alps.
Net Worth (Estimated)
Publicly available estimates of Bernie Ecclestone’s net worth vary, though all place him in the billionaire bracket.
- Forbes: Estimates his net worth at **$2.6 billion** as of August 2026. Earlier in 2026, Forbes listed him at $2.4 billion.
- Sunday Times Rich List: Valued the Ecclestone family’s wealth at £2 billion in 2026.
- Celebrity Net Worth: Estimates his net worth at $2.9 billion.
Sources differ on this point. Forbes and the Sunday Times Rich List are the most authoritative sources, with Forbes placing his fortune at $2.6 billion and the Sunday Times at £2 billion. The difference likely reflects the inclusion of family trusts and the fluctuating value of his assets.
His wealth derives from several sources:
- The sale of Formula One: Ecclestone sold the sport to Liberty Media in 2016 for $8.5 billion.
- The sale of his car collection: He sold his legendary F1 car collection for more than $650 million in 2025.
- Real estate and other investments: He owns significant property, including a home in Gstaad.
Editor’s Note: Net worth figures are estimates compiled from publicly available sources and may vary depending on methodology. Late Magazine does not have access to private financial records and does not present these figures as confirmed or audited.
Interesting Facts
- From rags to riches: Ecclestone left school at 16 and worked at a gas board before building a billion-dollar empire.
- **Bought Brabham for $100,000:** He purchased the Brabham team for $100,000 and sold it 16 years later for $5 million.
- Father at 89: He became a father for the fourth time at the age of 89.
- Record tax bill: In 2025, he was ordered to pay a £652 million tax bill.
- Detained at airport: In September 2026, Ecclestone was arrested at a Portuguese airport for illegally carrying a shotgun.
- Short stature: Ecclestone is 5 feet 4 inches (1.60 metres) tall.
Legacy
Bernie Ecclestone’s legacy is secure. He is the man who built Formula One. He took a dangerous, disorganized sport and turned it into a global entertainment empire. He was the architect of the modern F1 business model, and his influence is still felt today.
He was also a deeply controversial figure. His ruthless business tactics, his blunt public statements, and his willingness to operate in the grey areas of the law have made him a polarizing figure. But there is no denying his impact. He was, for better or worse, the most important figure in the history of Formula One.
Frequently Asked Questions
Who is Bernie Ecclestone?
Bernie Ecclestone is a British business magnate and the former CEO of Formula One Management. He controlled the commercial rights to Formula One for more than 30 years and transformed it into a global multi-billion-dollar sport.
What is Bernie Ecclestone’s net worth?
Publicly available estimates vary. Forbes estimates his net worth at $2.6 billion, while the Sunday Times Rich List valued his family’s wealth at £2 billion in 2026.
How did Bernie Ecclestone make his money?
He made his fortune through Formula One. He bought the Brabham team in 1972, then built a commercial empire around the sport’s television and promotional rights. He sold F1 to Liberty Media in 2016 for $8.5 billion.
Is Bernie Ecclestone still alive?
Yes. He is 95 years old and lives in Gstaad, Switzerland.
Who is Bernie Ecclestone married to?
He is married to his third wife, Fabiana Flosi, a Brazilian lawyer. They married in 2012.
Does Bernie Ecclestone have children?
Yes, he has four children: Deborah (born 1955), Tamara and Petra (with his second wife Slavica), and Ace (born 2020 with his third wife Fabiana).
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