Hong Kong billionaire Calvin Lo would like to compete in Formula 1 with his own team. Lo recently announced that his team is calculating the numbers for a commitment in the premier motorsport class. He has now revealed who he would like to have as a driver.
Does the entrepreneur Calvin Lo, often referred to as the “mysterious billionaire”, open a door to Formula 1 for the German Formula 1 driver Mick Schumacher? “I think Mick is an asset to any team. You have to imagine it: my hero, my idol Michael Schumacher and then his son who had the training and the effects, that mindset since he was a little kid.” said the 46-year-old at PlanetF1.
Just starting a team – that will not be possible for the billionaire (estimated fortune $1.64 billion). The cost of such an undertaking is immense, experts estimate between half a billion and a billion dollars. But still: A racing team with Schumacher as a driver – that would be the fulfillment of a dream for Lo. “For a boy who grew up watching Schumacher and later his son drives (in Los Team, ed.), that would be heaven.”
Lo finds it incomprehensible that the US team Haas kicked the 23-year-old out after his second season in the premier class of motorsport. “Of course he’s been unlucky a few times in the past two years, especially in the last few races. But he’s an amazing driver and, as far as I can tell, a very personable and friendly person. And financially, what the Of course, as far as marketability goes, he’s incredible.”
His employees are currently calculating what the Hong Konger’s commitment could look like. “We’re still checking what role I could have in Formula 1,” said Lo, who is considered a big fan of record world champion Michael Schumacher. “I’m not smart enough to lead the team,” he told the British newspaper “Daily Star”. Whatever his involvement, “it would be of a financial nature”. In recent years, he has been approached “by many Formula 1 players,” “from teams to very ambitious potential team owners or investors,” revealed Lo.
Not much is known about the insurance mogul, but he’s often dubbed “the mysterious Hong Kong billionaire” in the media. This year he attended the Singapore Grand Prix. He has also been a VIP guest at numerous other races. Lo, who was born in Canada, could start with his major project in Formula 1 in 2026 at the earliest, should it be successful. This year, the FIA ??could allow new teams to enter the world’s most prestigious motorsport series.