F1 Grand Prix of Europe - Practice - Image Source: Getty
Michael Schumacher, widely renowned as one of the most successful drivers in F1, was offered the role of being Ferrari's team principal following his first retirement in 2006. However, the German driver wasn't ready for a big commitment as he wanted to spend his time with his family, prompting him to reject the offer.
Schumacher, who has a net worth of $600 million (via Celebrity Net Worth), had won seven world championships (five with Ferrari) when he decided to move away from the racing world. He announced his retirement in 2006 only to return in 2010 with Mercedes, where he drove for another three years.
Meanwhile, former Ferrari team principal Jean Todt had different plans for Schumacher. The iconic team boss had set his sights on being in charge of the FIA. Hence, he stepped down from his role with the Italian team in 2004.
