Richard Cullen was handed the five-figure punishment after he admitted crashing his £500,000 supercar in Hagley Road, Halesowen.
The court heard how Cullen had admitted driving without due care and attention and failing to stop after an accident which occurred on May 25 last year.
The 50-year-old was at the wheel of a scarlet red Ferrari SF90 when he lost control and veered onto the opposite side of the road, failing to correct the deviation and hitting a parked car. The force of the impact sent the parked vehicle back into three more cars behind it. In total, five vehicles were damaged in the incident. Cullen then fled the scene on foot.
Photos from the scene showed the supercar's airbags deployed and debris strewn across the road. Nobody was reported trapped or injured in the incident, with firefighters and police attending as officers searched the area for Cullen.
At Birmingham Magistrates' Court on Monday, he was fined £3,008 for driving without due care and attention and £7,061 for failing to stop, leaving him with a total fine of £10,069.
Cullen, of St Kenmels Road in Romsley, Worcestershire, was also disqualified from driving for 12 months and ordered to pay costs of £185 and a surcharge of £190. In total he must pay £10,444.
The Ferrari SF90 goes from zero to 124mph in 6.7 seconds, and has a top speed of 211mph. It is also Ferrari's first production plug-in hybrid, while its name references Ferrari's 90th anniversary in 2019.