Michael Schumacher latest news update: Racing great named fifth richest athlete in history; updates on brain injury

Michael Schumacher's doctors are hopeful that his condition will somehow improveReuters/Tony Gentile

It's very hard to visualize Michael Schumacher without seeing him either driving his red Ferrari or taking a pose beside it. After all, that's what the F1 legend is known all around the world for.

A successful career spanning 21 years earned him worldwide fame and fortune that placed him at the top five of Forbes magazine's highest paid athletes of all time with total accumulated earnings of $1 billion.

Part of these earnings came from his epic rivalry with fellow F1 hall of famer Mika Hakkinen, with whom he had nail-biting finishes throughout their tussles dating back to the 90's.

The 49-year-old Hakkinen considers Schumacher to be his greatest rival in the sport.

Schumacher's career continued until 2012 where he amassed seven career world titles, a record that is unmatched up to now. His last year of active competition saw him racing for team Mercedes until his retirement.

He ignited several rivalries with other up-and-comers along the way, but none matched the ones he had with Hakkinen.

In 2013, Schumacher suffered a freak accident while skiing. He smashed his head on a rock and was immediately placed in a coma due to a traumatic brain injury.

In September 2017, news reports that the 48-year-old might be transferred to the United States to have access to improved facilities for his medical treatment. It was previously reported that he had been receiving intensive care from his Lake Geneva home that costs £115k per week.

The decision to move Schumacher was made by his wife Corina. He will be expected to receive advanced medical treatment at a brain trauma center in Texas.

Brain injury specialist Dr. Mark Meeks feels positive that they can improve Schumacher's condition.

Swedish newspaper Expresen quoted Meeks as saying, "There is probably no clinic in Europe that handles as many cases as we do."