Ecclestone girls make £500m as Formula One is sold to US tycoon

is married to former city banker Jay rutland and has one child.

She was seen on Monday with her sister in Malibu making the most of the Labour Day celebrations.

asked how long Ecclestone might continue as chief executive of F1, having run the sport for 30 years, Carey said: ‘We will work together as long as it’s a good partnership for the business and the sport. He deserves a great deal of credit and respect for what he has done in Formula one.’

Ecclestone is a controversial figure who holds an iron grip over the sport. However, he has been credited with transforming F1 from something run by enthusiasts into one of the world’s richest sports generating £1.4bn sales annually.