Michael Schumacher No More Hope? Wife Sells Properties to Support Medical Bills

The seven-time F1 racing champion, Michael Schumacher, is still under a medically induced coma after suffering severe head injuries in a skiing accident last December 2013. His wife, Corinna, reportedly sold the family's luxury assets to support Schumacher's medical bills.

The F1 legend has an estimated net worth of more than $750 million according to International Business Times. Last Saturday, Corinna sold her husband's £25 million ($39 million) jet and even considered selling the family's home in Meribel, France, the area where the ski accident happened, to cover the costs of rising medical bills.

According to Venture Capital Post, one of the speculations as to why Corinna sold the luxury properties was because Michael will be unable to benefit from these due to his condition. The Schumacher matriarch reportedly took over the family's finances since her husband's circumstance, according to the German magazine Bunte, cited by NESN.com.

"When it became clear that the old Schumi perhaps never would return, Corinna had to accept her new life. She had to act," the news report also added that Corinna has been taking care of her husband's multi-million dollar businesses as well.

"She took over the job, and the power, of her husband as an act of succession. Corinna underwent a remarkable transformation - from his wife to the clan chief, a lady who trained as a sales clerk to the manager of a multi-millions company," added the German magazine, cited by UK Mirror. Corinna reportedly manages the finances, bank accounts, business advisers, lawyers and personnel of Schumacher's empire.

Not much is known of Schumacher's condition as his wife ordered a media blackout to protect their family's privacy. After an emergency surgery following the skiing accident where his son, Mick, was also present but unharmed, Schumacher was placed under a coma and didn't leave France's Grenoble Hospital until June 2014. Schumacher returned to Switzerland where he is cared for 24/7 by a crew of doctors, nurses, and technicians.

Meanwhile, their 16-year-old son, Mick, is following Schumacher senior's footsteps. Last April, Mick place fifth in the overall championship on his first formal Formula 4 debut using his real name. Mick has been using Corinna's maiden name when he competed before to avoid media attention, according to UK Daily Mail.

Daughter Gina Maria competed in the NRHA European Futurity Horse Show in Kreuth, Germany, according to UK Express. The 17-year-old reportedly impressed the crowd with her horse riding prowess.