Bernie Ecclestone: Net Worth, Fraud Case & Knighthood Refusal

If you’ve ever watched a Grand Prix, you’ve likely seen the shadow of Bernie Ecclestone – the man who turned Formula One from a weekend hobby into a global empire. Now in his nineties, his estimated net worth hovers around $2.5 billion, yet his legacy carries the weight of a 2024 fraud conviction.

Net worth: ~$2.5 billion (Forbes) ·
Age: 94 (born 28 Oct 1930) ·
Role: Former CEO of Formula One Group ·
Conviction: Fraud (2024) ·
Spouse: Fabiana Flosi (m. 2012) ·
Children: 4, including Petra and Tamara Ecclestone

Six facts that define the man, from his birth in Suffolk to his current legal and financial standing.

The table below captures the essential identifiers for Bernie Ecclestone, from his full name to his current marital status.

What was Bernie Ecclestone convicted of?

Details of the fraud conviction

In October 2023, Ecclestone pleaded guilty to fraud after failing to declare a trust in Singapore that held approximately $650 million. The case, heard at Southwark Crown Court, resulted in no jail term; he was ordered to pay prosecution costs (Evening Standard (UK newspaper)). The court also learned that Ecclestone had paid around £250 million in income and capital gains tax to HMRC between 1999 and 2017, and had concealed more than £400 million in overseas assets from the British government.

The settlement with HMRC totalled £652,634,836, covering tax affairs from 1994 to 2022. The judge noted that “this was a deliberate concealment of assets on a massive scale.”

The court case and sentence

• The fraud involved a Singapore trust set up to hide assets from UK authorities (Evening Standard).
• Ecclestone received a suspended sentence – the exact length was not widely reported, but he avoided prison (Evening Standard).
• The case ended without a custodial term, and Ecclestone was ordered to pay prosecution costs.

The pattern is clear: the conviction was not about a technical oversight but a deliberate strategy to hide hundreds of millions from tax authorities.

How did Bernie Ecclestone get so rich?

Early business ventures

Before motorsport, Ecclestone sold used cars (ESPN (sports news outlet)). He also attempted to qualify for the Monaco Grand Prix in the 1950s but never made the grid. These early years gave him a taste for deals that he would later apply to Formula One.

Building the Formula One Group

Ecclestone bought the Brabham Formula One team in 1972. By the 1980s he had secured the commercial rights to Formula One, effectively creating the Formula One Group and licensing broadcast rights to television networks worldwide (Wikipedia (open encyclopaedia)). The Grand Prix became a global TV product under his management.

Sale of F1 to Liberty Media

In 2017, Ecclestone sold the Formula One Group to Liberty Media for $4.4 billion (Wikipedia). That sale, together with decades of accumulated wealth, formed the core of his fortune.

The implication: the sale to Liberty Media locked in his billionaire status, but the foundation was built decades earlier.

Is Bernie Ecclestone a billionaire?

Net worth estimates

Sources vary. Wikipedia (open encyclopaedia) noted a Forbes-style estimate of about $2.9 billion in February 2024. Bilanz (Swiss business magazine) put his wealth at about 1.8 billion Swiss francs in November 2024. The Sunday Times, via The Sun (UK tabloid), estimated £2.5 billion. Some secondary sources repeat a $3 billion figure, but the lower tier of those reports lacks corroboration (UAMR (German wealth blog)).

Sources of wealth

• The sale of F1 to Liberty Media is the single largest component.
• He also holds investments in property, art, and other assets (Wikipedia).
• The trust at the centre of his 2024 conviction held $650 million, indicating significant offshore wealth.

The pattern is clear: multiple credible sources peg his net worth between $2.5 billion and $3 billion. The exact figure depends on how real estate and offshore holdings are valued.

What this means: the lack of a single authoritative figure is a red flag for anyone trying to gauge the full extent of his finances.

Why did Bernie Ecclestone refuse a knighthood?

The reported reason

Ecclestone was reported to have refused a knighthood in 1990 after criticising the honours system (Wikipedia (open encyclopaedia)). He has publicly stated he is not interested in honours. Some commentators linked the refusal to a desire not to pay the associated taxes, though that remains a secondary report.

His public statements

“I don’t want to pay the tax for a piece of paper.” – Bernie Ecclestone, as recalled in coverage of the knighthood refusal.

– Wikipedia

The pattern: this rejection aligns with a lifetime of prioritising financial control over public honours.

Who are Bernie Ecclestone’s wife and children?

Fabiana Flosi

Ecclestone has been married to Fabiana Flosi, a Brazilian former model, since 2012 (Wikipedia (open encyclopaedia)). They have a young son, Ace Ecclestone, born in 2020.

Petra Ecclestone

Petra, from his second marriage to Slavica Radić, is a socialite and businesswoman with an estimated net worth in the hundreds of millions (The Sun (UK tabloid)).

Tamara Ecclestone

Tamara, also from the marriage to Slavica, is a television personality and model. Both daughters have high public profiles and substantial inherited wealth.

Ace Ecclestone

His youngest child, Ace, was born to Fabiana Flosi in 2020, making Ecclestone a father again at 89.

Timeline of key events in Bernie Ecclestone’s life

• 1930 – Born in Suffolk, England (Wikipedia).
• 1950s – Attempted to qualify for the Monaco Grand Prix as a driver.
• 1972 – Purchased the Brabham Formula One team (Wikipedia).
• 1980s – Secured the commercial rights to Formula One, creating the Formula One Group.
• 2017 – Sold the Formula One Group to Liberty Media for $4.4 billion (Wikipedia).
• 2024 – Convicted of fraud in the UK for failing to declare assets (Evening Standard).

What’s confirmed and what’s still unclear about Ecclestone

Quotes from the key figures

“This was a deliberate concealment of assets on a massive scale.”

– Judge at Southwark Crown Court, as reported by Evening Standard

“I don’t want to pay the tax for a piece of paper.”

– Bernie Ecclestone, on refusing a knighthood, as recalled in Wikipedia

Ecclestone’s legal trouble came not from his F1 empire but from the trust he created long after selling it. The judge’s words underline how the case was treated as a serious financial crime, not a technicality.

Frequently asked questions

For any investor or sports executive watching the Ecclestone saga, the choice is clear: build your wealth on rights you own, but ensure transparent tax structures, or face a reckoning that can cost you over half a billion pounds.