Toto Wolff has sold 15 per cent of his stake in Mercedes to American billionaire George Kurtz.
Wolff will retain his roles as team principal and CEO of the Formula 1 team.
Kurtz.is the founder of cybersecurity firm CrowdStrike, a Mercedes partner since 2019, and has bought 15 per cent of the ownership entity controlled by Wolff, which holds an equal one-third shareholding in the team alongside Mercedes-Benz and Ineos.
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Kurtz joins Mercedes' ownership group and has also been appointed as their technology advisor.
"Formula 1 is really at an inflection point where it is a thriving business," Kurtz said.
"If you're making an investment like this, you believe that the sport is going to grow, F1 is going to grow and the team valuations are going to grow, and you're going to be able to contribute to that growth."
Kurtz will not be on the main board but will join the team's strategic steering committee, on which Ola Kallenius, the chairman of the management board of the Mercedes Group, Ineos chairman Sir Jim Ratcliffe and Wolff meet to discuss issues to do with the team.
Wolff said: "George's background is unusual in its breadth: he's a racer, a loyal sporting ambassador for Mercedes-AMG, and an exceptional entrepreneur.
"He understands both the demands of racing and the realities of building and scaling technology businesses. That combination brings specific insight that is increasingly relevant to the future of Formula 1."
Kurtz's purchase equates to five per cent in the team with the deal valuing Mercedes F1 at a record £4.6bn, according to initial reports last week.
Speaking about the large increase in F1 team valuations over recent years, Wolff told Sky Sports F1 at the Las Vegas Grand Prix in wake of the Kurtz announcement: "I think it shows a good development because the teams have become sustainable and profitable.
"It's not just some valuation that has been taken out of the sky. When you look at our revenues and our cash flows we are among the five, maybe three most-profitable sports teams in the world, and this is where the valuations come from,
"It has been the work of many years and the sport being in a good place."
Formula 1's thrilling title race continues with the Las Vegas Grand Prix this weekend, live on Sky Sports F1. Stream Sky Sports with NOW - no contract, cancel anytime
(c) Sky Sports 2025: Toto Wolff: Mercedes team principal and CEO sells 15 per cent of his stake to American billionaire George Kurtz
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