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Michael Schumacher Latest Condition Update: Personal Jet and Holiday Home Sold To Fund Medical Bills

( [email protected] ) Oct 15, 2015 12:52 PM EDT
Family and friends of Formula 1 racing legend Michael Schumacher are confident he will recover, but it comes at a price. Christian Today reports that the cost that is keeping Schumacher rehabilitated is costing him some of his prized possessions, including the sale of his private jet and holiday home, worth around USD 25 million.
German Formula 1 driver Michael Schumacher poses with his wife Corinna Schumacher at the winter resort of Madonna di Campiglio in Northern Italy in 2005. AFP/Getty Images

Family and friends of Formula 1 racing legend Michael Schumacher are confident he will recover, but it comes at a price.

Christian Today reports that the cost that is keeping Schumacher rehabilitated is costing him some of his prized possessions, including the sale of his private jet and holiday home, worth around USD 25 million.

Australia Network News adds that all this is necessary to pay the mounting costs from medical treatment. It was reported that the champion racer remains at his Lake Geneva Mansion where 15 medical specialists constantly have him under observation night and day. It is reported that the family has already spent around 15 million on his care, spending an average of USD 154,000 a week.

And yet no matter how bills pile up from the seven-time Formula One champion's prolonged recuperation, family, particularly Schumacher's wife has spared no expense. His wife has also taken on the management of their family business.

However, the situation, Christian Today reports, is putting a dent on the racer's net worth. It was mentioned that Schumacher was worth USD 800 million. That wealth now has been significantly diminished and may continue to dwindle as the end of the race car champion's rehabilitation seem out of sight. Schumacher's manager, Sabine Kehm, was quoted as saying that the driver will need a "considerable amount of time" to recover. It was mentioned that Schumacker now weighs 45 kilograms. 

The F1 racer shocked the whole world when he was subjected to a horrific skiing accident in the French Alps in December 2013. The driver fought for his life after sustaining a major head injury which was so severe that he was forced into a medically induced coma to remain stable. The coma lasted for 189 days.

He was then rushed to the Grenoble University Hospital in France where chief anesthesiologist Jean-Francois Payen admitted the patient's critical condition. Later he was transferred to the University Hospital of Lausanne in Switzerland where he required care 24/7.

Schumacher's recovery drama was not devoid of controversy either. IBTimes mentions that a helicopter air rescue company executive tried to steal the racer's medical records in order to sell them to the media. After being incarcerated, the executive later hanged himself before he could face the judge.

Tags : Michael Schumacher, Formula 1, Formula One, race car driver, racing legend, French Alps, skiing accident, private jet, holiday home, medical cost, Schumacher health update, Sabine Kehm, Schumacher family