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Bernie Ecclestone, the founder of Formula One, is one of the richest men in the world with an estimated net worth of $2.9 billion. Part of that $2.9 million had been tied up in a collection of 69 Formula One cars that he had secretly collected over the years. Now, that collection has been converted to cash as he recently sold it to 32-year-old Red Bull heir, Mark Mateschitz.
The business magnate reportedly said he was selling the F1 car collection because his 48-year-old Brazilian wife Fabiana would not know what to do with them when he dies. Based on the secrecy surrounding the cars and the fact that the collection had never been seen by the public until now, it sounds like he didn’t really know what to do with them either.
“I am 94 and with luck I might have a few years longer. Who knows?” Ecclestone told DailyMail.com “But I didn’t want to leave Fabi wondering what to do with them if I was no longer around. I love all my cars but maybe I should have done this five years ago, but I never got around to it until now.”
Now they belong to Mateschitz, the son of late Red Bull billionaire Dietrich Mateschitz and 49 percent owner of the F1 Red Bull Racing team. Which, according to the 32-year-old, means that the collection which includes cars dating back start of Formula One in 1950 and includes those driven by Alberto Ascari, Mike Hawthorn, Niki Lauda, Nelson Piquet and Michael Schumacher when they won the F1 World Championship, they will finally go on display.
“They’ve gone to a good home, which is the real thing I was interested in making sure. They’ll present them somewhere, into a museum so people can have a look at them for a change, which has never happened before,” Bernie Ecclestone told Reuters. “They’ll present them somewhere, into a museum so people can have a look at them for a change which has never happened before.
“It’s good. I’m more than happy that’s where they’ve gone,” Ecclestone continued. “I wouldn’t have sold them to anyone unless I knew where they were going to finish up. They’re going to build something like a museum and that’s where they’ll be.”
Ecclestone’s F1 car collection had reportedly been stored in a secure hangar at Biggin Hill airfield, south of London, which has never been opened to the public. Mateschitz revealed to DailyMail.com that the collection “will be carefully preserved, expanded over the years, and in the near future it will be made accessible to the public at an appropriate location.”
“These are unique vehicles,” said Ecclestone. “They have written sport history and marked technical milestones. They embody 70 years of F1 history. It means a great deal to me to know that this collection is now in the very best of hands. Mark is the best and most worthy owner we could ever imagine.”