Michael Schumacher net worth has been a subject of much interest and controversy, especially since the retired driver is widely regarded as one of the highest earning athletes of all time.

Reports indicate that he is currently worth about $800 million, with an annual salary of $50 million - mainly from endorsement deals. The veteran racer is regarded as one of the highest paid athletes of all times.

About two years ago, Britain's Sunday Times revealed that Michael Schumacher net worth made him the second richest sportsman and the wealthiest racer. This is not really surprising considering the dominance of this legendary racer during the span of his career since the 80s. While he has not performed as expected since returning from retirement in 2010, this has not compromised his position as one of the greatest drivers of all times.

Michael Schumacher net worth reflects the fact that he has won up to seven F1 championships and holds many driving records to this day.

Reports indicate that he was on his way to becoming the world's first billionaire driver before his untimely skiing accident in December last year. But there are indications that the 'greatest F1 driver'

is recovering from the severe head injuries he sustained.

Recently, F1 commentator Jean-Louis Moncet revealed that Mick Schumacher, the son of the icon, told him that the racer is "waking up very slowly; very slowly."

He noted that "Although things are going at a slow pace, he has a lot of time, I would say he has his whole life in front of him to get back on track."

While we may never see the older Schumacher on wheels competitively anymore, there is every indication that his 15-years old son will fill in the humongous shoes he leaves.

Michael Schumacher net worth has been downgraded by about $24 million since 2012. Nonetheless, the F1 veteran is still one of the richest and well paid athletes.