Who is Lawrence Stroll? How Aston Martin owner became a billionaire

Best known for his polarising presence and no-nonsense approach to success, Lawrence Stroll and his $3.7bn fortune have sky-rocketed him to the very top of Formula 1 – first as a supporter of son Lance and now as a successful team owner.

Currently leading the Aston Martin F1 Team in 2023, the Canadian has invested heavily in returning the historic motor racing brand to the top of the series but there are some other questions F1 fans may want answered.

Here is everything you need to know about Lawrence Stroll including how he made his fortune, how much of Aston Martin he owns and why is regarded as one of the most notorious Ferrari collectors in the world.

 

Lawrence Stroll net worth — how big is his fortune?

According to Forbes, Lawrence Stroll is among the 800 richest people in the world, with a fortune estimated at $3.7bn (£3bn) in May 2023, largely thanks to shares he sold in the Michael Kors fashion brand. Stroll’s wealth is thought to have grown by $1bn since 2019 and his current investments include the Aston Martin car company, as well as the Formula 1 team that uses the same name

 

How did Lawrence Stroll make his money?

Lawrence Stroll’s start in the fashion industry

The bulk of Stroll’s fortune comes from his success in the fashion industry. His father, Leo Strulovitch, worked as a clothing importer who acquired the Canadian licences for Pierre Cardin and Polo Ralph Lauren, and Lawrence — who was born with the Strulovich surname — spent much of his childhood learning the business.

At age 17, he was handed the Pierre Cardin business, with results that were impressive enough to land him the European rights to the Ralph Lauren brand in partnership with with Hong Kong contract textile manufacturer Silas Chou.

The pair had come into contact professionally and became friends, then business partners, making a success of the Ralph Lauren brand.

 

Lawrence Stroll and Tommy Hilfiger

Chou also produced clothing for the US designer Tommy Hilfiger, who turned to him for help when his financial backer hit trouble in 1989. Chou and Stroll formed Sportswear Holdings Ltd and bought 70% of the brand, reportedly for little more than $200,000. At that time, it was selling $25m worth of clothing a year. With Hilfiger’s designs, Chou’s strategic nouse, and Stroll’s marketing acumen, the brand rolled out clothes perfectly in tune with the more casual look of the nineties, boosting sales volumes to almost $2bn by the turn of the millennium.

Hilfiger, who grew up near Watkins Glen, and Stroll also shared a love of motor sport. In 1991 the brand sponsored the Lotus F1 team, which also carried Pepe Jeans logos — the company having been bought by Chou and Stroll. The sponsorship deal ended in 1994 after a Lotus clothing line, but Stroll’s passion for Ferrari and the rising fortunes of the Tommy Hilfiger brand brought the two brands together in 1998. For four years, Hilfiger supplied official teamwear, as Michael Schumacher led the resurgence of the Scuderia.

By 2002, Tommy Hilfiger was valued at $1.87bn and Stroll and Chou cashed out.

Lawrence Stroll’s investment in Michael Kors

Stroll and Chou now had the capital and experience to make their most lucrative investment yet, as Sportswear Holdings paid $85m for an 85% share of Michael Kors. Growth was explosive, continuing through the financial crash of the late noughties. By 2011, the company was valued at $3.6bn when it went public. Stroll and Chou gradually reduced their holdings until, in 2014, with the company valued at $20bn, Stroll sold his final stake, realising more than $1bn.

 

Lawrence Stroll’s F1 team ownership?

Stroll first invested in Formula 1 with Lotus during the days of Tommy Hilfiger sponsorship, but it was short-lived. He became a prominent figure in the paddock after paying several million dollars to secure son Lance a seat with Williams for the 2017 and 2018 season. It coincided with the demise of the team and, in mid-2018, he led a consortium named Racing Point to bid for the Force India team, which had entered administration earlier that year.

The £90m offer was successful making Stroll — along with business partner Chou and other investors, the new team owner. Lance moved to Racing Point in 2018 and it was rebranded as Aston Martin in 2021 after Stroll also took a stake in the car compaany.

 

How much of Aston Martin does Lawrence Stroll own

 

Success allowed him to re-introduce Aston Martin to the F1 field in 2021, when he led another consortium to purchase 16.7% of the Aston Martin car company for $235m, and was later appointed executive chairman.

The stakes gave him operational control over both companies, and Stroll linked them up for the 2021 season, rebranding Racing Point as the Aston Martin F1 Team and signing four time F1 world champion Sebastian Vettel to partner his son Lance.

After two mediocre seasons, Aston has finally found the front-of-grid performance it had been searching for, assisted by the hiring of technical director Dan Fallows and Fernando Alonso, who replaced the retiring Vettel ahead of the 2023 campaign.

The team has also built a £200m state-of-the-art F1 facility at Silverstone, which will act as its base of operations on Aston’s march back toward the top of F1.

 

How much has Lawrence Stroll invested in Lance Stroll’s F1 career?

Aside from a big family fall out, Lance Stroll is set to remain on the F1 grid for the foreseeable future. When he graduated from his role as a reserve driver with Williams in 2017, numerous reports speculated on how much his father had paid the team to ensure he got a full time F1 seat. But in truth, Lawrence’s investment in his son’s future began many years earlier.

After showing signs of promise in karting, winning the Quebec rookie of the year award in 2008 and the driver of the year award in 2009, Lance entered competitive car racing for the first time in 2014, in the Italian F4 series.

Backed by a $60m investment into Prema by his father – buying him the best cars, equipment and a state-of-the-art home simulator – Lance won the championship in his debut season, and was quickly promoted to F3 – finishing fifth in 2015 and first the following year.

Two ‘tortuous’ years at Williams were ended when Lawrence intervened again, leading a consortium of investors to form Racing Point, buy Force India and appoint Lance as one of its drivers for the 2019 season, ousting Esteban Ocon in the process.

18 months later, Racing Point was re-branded, now as Aston Martin F1 Team and Lance remained with the team, partnering Sebastian Vettel.

Stroll’s current salary is unknown, but should remain a part of the team for the foreseeable future.

 

Lawrence Stroll’s epic car collection

Even whilst conquering the world of fashion, Stroll’s enthusiasm in the world of motor sport was apparent. Throughout the years, he has built one of the most impressive car collections in the world, composed of over 27 cars featuring a Ferrari 250 GTO, a 1998 McLaren F1 and an original Ford GT40. All told, his assembly of racing heritage is worth just over $140m.

See some of the highlights of Stroll’s car collection bellow.

 

Ferrari 250 GTO

A $70m price-tag means the Ferrari 250 GTO is one of the most expensive cars in the world, and with only 36 produced, Lawrence Stroll is part of a highly esteemed club. The 250 GTO is regarded as the crown jewel in Stroll’s collection and was bought in 1998 for an undisclosed price.

Stroll’s owns many other classic Ferraris, including a Ferrari 250 Testa Rossa Scaglietti, Ferrari Enzo, Ferrari LaFerrari, F40 and F50.

 

Ford GT40

Widely regarded as a motor sport icon, the Ford GT40 earned its stripes at Le Mans, most notoriously whilst racing Ferrari. Little is known about how much Stroll paid for it, but it currently has a price tag north of $7.4m.

 

1996 McLaren F1

Few road cars are more iconic than the McLaren F1. Its central seating position and 240mph top speed gives people like Stroll a taste of grand prix racing whilst making the commute to work, and its uniqueness has made it a target for luxury car collectors around the world. But for $20m, it certainly isn’t cheap.