In a remarkable act of sportsmanship and generosity, Formula E CEO Jeff Dodds and four-time Formula 1 world champion Max Verstappen have together pledged $250,000 to charity following what Dodds described as a “tongue-in-cheek” bet made earlier in the year.
The origins of this philanthropic gesture date back to an interview in early 2024, during which Dodds humorously “bet” that Verstappen would win his fourth consecutive F1 title.
Dodds, confident in the Dutchman’s dominant streak after a stellar 2023 and a strong start to 2024, vowed that Formula E would donate $250,000 to charity if the Red Bull driver failed to clinch his fourth world title.
As predicted, Verstappen secured the 2024 championship, with two races to spare, triumphing under the dazzling lights of Las Vegas. However, despite the “bet” being moot, Dodds decided to honor half of the pledged amount, with Verstappen graciously offering to cover the remaining $125,000.
The donation is being split between two causes close to both men’s hearts.
Formula E’s contribution will kickstart efforts to promote gender equity in motorsport, partnering with the organization More Than Equal to research and address the barriers faced by women in racing.
Verstappen’s portion will go to Wings For Life, Oracle Red Bull Racing’s charity dedicated to funding spinal cord research.
Dodds reflected on how the playful wager evolved into something much more impactful.
“What started as a very tongue-in-cheek ‘bet’ at the start of the season has evolved into a serious commitment to support gender equity within our Championship, with the ultimate goal of seeing women competing full-time in Formula E,” he explained.
“As a first step, the research we have commissioned in partnership with More Than Equal will help us better understand the barriers to entry that women currently face, and how specifically Formula E and our teams can provide greater parity, opportunities and inclusion at the top level of our championship.”
Formula E CEO Jeff Dodds (©Formula E)
Dodds also took a moment to congratulate Verstappen on his continued success.
“Congratulations to Max on his fourth-consecutive World Drivers’ Championship and we look forward to even more competitive racing next season.
“Meanwhile, the new Formula E season is already well underway and we’re excited to showcase more thrilling races, lots of exciting overtaking and fantastic wheel-to-wheel action for our fans across the globe.”
Verstappen, fresh off his latest championship triumph, expressed his gratitude for the opportunity to give back.
“The charity closest to me is Wings For Life and I’m sure they’ll be very grateful; and to support any kind of motorsport and young talent is amazing, so I think it’s a great shout from you,” he said.
“Thank you very much Jeff, I wish you all the best of course, and I’ll be watching the championship during my time off!”
Dr. Fran Longstaff, Head of Research at More Than Equal, praised Formula E’s commitment to advancing gender equity.
“Formula E has demonstrated a strong commitment to developing and providing opportunities for female drivers, and we’re thrilled to partner with them on this important research initiative.
“This project will use our expertise to identify the key factors that contribute to success in this unique and rapidly evolving series, which demands a distinctive blend of skills and experience.”
Anita Gerhardter, CEO of Wings For Life, expressed her gratitude for the generous contribution.
“A big thank you to Jeff Dodds, the entire Formula E team and Max Verstappen for this generous donation to Wings For Life. 100% of the donation will go towards promising research projects around the world to help find a cure for spinal cord injury.”
Whether advancing gender equity in Formula E or funding groundbreaking research for spinal cord injuries, Dodds and Verstappen have shown how playful rivalries can lead to real-world change.
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