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F1 began officially in 1950 and has expanded ever since.

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1950 – First World Championship for drivers under FIA.

1950 – First Race was the British Grand Prix.

1950 – First rear-engine car competes in a world championship event.

1953 – First South American race is held on the Buenos Aries circuit and more spectators then the facility could hold attended. Several died when sitting on the edge of the raceway.

1955 – Bill Vukovich was killed in the Indianapolis 500.

1957 – Juan Fangio wins his 5th world championship.

1962 – Stirling Moss suffers a career ending crash.

1966 – Start of the 3 litre engine in Formula one.

1968 – Sponsorship makes its first appearance in the sport.

1968 – Wings appear on Grand Prix cars to help with down force.

1969 – Four wheel drive cars were used by Matra, Lotus, and McLearn, but were not successful.

1971 – Mario Andretti gets his first win in a Ferrari.

1973 – The Ford DFV engine wins every Grand Prix of the season.

1973 – The pace car is used for the first time in F1 during the Canadian Grand Prix.

1977 – Ground effects are introduced.

1978 – Medical cars now follow F1 cars to improve reaction time.

1984 – First race composed of all turbo-charged cars.

1989 – F1 has top involvement with 39 cars competing.

1990 – 500th F1 Grand Prix is held in Adelaide.

1991 – Mika Hakkinen makes F1 Debut.

1991 – Michael Schumacher makes F1 Debut.

1991 – Shortest race in history, 14 laps.

1992 – Giovanna Amati is the first woman to appear on the entry list since Lella Lombardi in the 70’s.

1994 – First German World Champion, Michael Schumacher.

1996 – Schumacher joins Ferrari team and becomes the first race car driver to make the top 10 wealthiest athletes in the world, second to Michael Jordan.

1997 – Bridgestone supplies almost half of the tires in formula one.

1997 – Three drivers clock the same qualifying time.

1999 - Eccelstone sells 50% of his shares to Deutsche Bank's Morgan Grenfell Private Equity worth $1.3 Billion.

Pictures from formula1.com and f1roro.co.uk