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Michael Schumacher Latest Health Update: F1 World Champion Racer Now Uses His Accumulated Wealth To Recover

( [email protected] ) Dec 13, 2015 01:59 PM EST
Michael Schumacher is now using his accumulated wealth to recover from "terrible" health condition. The family of the F1 racer prays that he will regain his strength soon. Reports say that Michael's rehabilitation costs US$150,000 weekly.
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

Michael Schumacher is now using his accumulated wealth to recover from "terrible" health condition. The family of the F1 racer prays that he will regain his strength soon. Reports say that Michael's rehabilitation costs US$150,000 weekly.

The seven-time Formula 1 racer is now recovering very slowly after an extensive rehabilitation program in his home in Geneva, Switzerland. Daily Mail published that a team of 15 medical specialists is monitoring the racer's health using advanced medical facility.

Because of the high cost of his health maintenance, the family decided to sell the racer's 34 million Euro jet or about US$37.2 million. With that amount, it would help to finance his medication for 248 weeks or about four years and a half.

Schumacher's wife Corinna sold the private jet when she realized that the racer would never fly again. Moreover, she sold off their holiday home in Norway earlier this year knowing the racer would never vacation again there, according to German magazine Bunte.

Corrina also plans to sell the family chalet in France for a yet undisclosed amount. The money they will get would help to expand Michael Schumacher's medical expense budget.

"When it became clear that the old Schumi perhaps never would return, Corinna had to accept her new life. She had to act," Bunte magazine published.

She is now handling the Schumacher 'imperium' that continues to earn millions even while her husband remains dormant. She manages the finances, business advisers, the bank accounts, lawyers and medical personnel.

Despite their wealth, some rumors say the family is now having a hard time coping up with Michael's recovery.

Nearly two years after the skiing accident in the French Alps in December 2013, Michael is still battling with his life's biggest challenge. As of now, the information about his true medical condition is kept under wraps. Reports say the former F1 racing champion is reportedly showing signs of slow progress.

After the skiing accident two years ago, the racer admitted to a hospital in Grenoble, France for nearly six months. When he recovered from his coma, he was then moved to a rehabilitation clinic in Lausanne, Switzerland where he spent three months. Last year, he finally transferred to his home.

Michael Schumacher is one of the most successful F1 drivers in the history of motorsports racing. He retired from racing in 2012. During his peak, he won five world titles in succession for Ferrari.

The Formula One website refers to Michael Schumacher as the greatest F1 driver that the sport has ever seen.

 

Tags : F1 legend Michael Schumacher, F1 racing, Michael Schumacher condition, Michael Schumacher traumatic head injury