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

By Precy Dumlao
Michael Schumacher and Wife
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.

  • [Exclusive Interview] A revelation within the brink of life and death — Meg Leung’s mission in Christian art

    Meg Leung (梁麗橋), an artist with a lifelong love for watercolor painting, sees her art as more than a means of expressing her inner world; it is a bridge connecting her to God. Her artistic journey has revealed God’s perfect plan and inspired her to communicate the power of faith through her wor

  • Transgenderism a fundamental human right? Hong Kong public disagrees, survey finds

    A 2024 survey from the Society for Truth and Light (明光社)'s Center for Life and Ethics Research reveals that respondents from various backgrounds prioritize personal safety and fairness when it comes to transgender issues. When laws involve moral judgments, most respondents believe courts should not make the decisions. The study also indicates that religious believers share similar views with non-religious respondents, reflecting that many churches may rarely address gender topics in depth.

  • Discipleship and Evangelism: Walking the Path of the Great Commission

    Like an ever-flowing spring, the gospel refreshes dry, parched lands and needs our unwavering passion and steadfast faith to transform lives and bring renewal. The "flame in our hearts" calls Christians to keep their faith and love for the Lord ablaze, representing the work and power of the Holy Spirit, driving us to proclaim God's glory boldly.

  • North America Chinese Evangelical Seminary year-end report highlights significant ministry progress

    As the year draws to a close, Rev. James Liu, President of the Chinese Evangelical Seminary North America (CESNA), reflected on the seminary’s remarkable growth and ministry development over the past year. Dedicated to providing theological education to Chinese Christians, CESNA continues to uphold its mission to remain faithful to the gospel and nurture believers. This year’s achievements span academic, ministerial, and outreach endeavors, fostering spiritual growth and advancing missionary wo