Dietrich Mateschitz Dies At 78 - Red Bull Owner Passed Away
Dietrich Mateschitz dies at 78, an Austrian billionaire who was a co-founder of the energy drink corporation Red Bull as well as the creator of the Red Bull Formula One racing team and owner of the team.
On Saturday, it was announced that Mateschitz had passed away by representatives of the Red Bull racing team who were present at the United States Grand Prix in Austin, Texas.
Red Bull Formula One owner Dietrich Mateschitz dies at 78
Mateschitz rose to prominence while serving as the public face of Red Bull, an Austrian-Thai company that claims it sold approximately 10 billion cans of the beverage, which is based on caffeine and taurine, in 172 countries around the world in 2017.
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Not only was Mateschitz instrumental in the energy drink's rise to popularity on a global scale, but he also used the beverage's success to build an empire in the fields of sports, media, real estate, and gastronomy.
Mateschitz became famous as the public face of Red Bull, an Austrian-Thai company that says it sold nearly 10 billion cans of its drink with caffeine and taurine in 172 countries around the world last year.
Mateschitz not only helped make the energy drink popular all over the world, but he also built an empire around the brand in sports, media, real estate, and food.
Because Red Bull was getting more and more popular, he put a lot more money into sports. Red Bull now runs football clubs, ice hockey teams, and F1 racing teams. It also has contracts with hundreds of athletes in different sports.
In 1984, Yoovidhya started the company after Mateschitz saw the potential in marketing Chaleo's other energy drink, Krating Daeng, to people in the West. Red Bull says that Mateschitz worked on the formula for three years before the new version of the drink came out in his home country of Austria in 1987 with a new name.
Under Mateschitz's leadership, Red Bull's market share grew quickly, first in Europe and then in the United States. This was helped by marketing campaigns that pushed the drink's supposedly energizing effects and by sponsorship deals in motorsports, soccer, extreme sports, and the music business.
In Formula 1, the Red Bull Racing team has had a lot of success. In 2010, 2011, 2012, and 2013, the team won the constructors' championship, and German driver Sebastian Vettel won four driver's championships in a row while he was on the team.
Red Bull runs soccer teams in the top leagues in Austria, Germany, Brazil, and the U.S. In 2005, the company bought the Austrian club SV Austria Salzburg and changed its name to Red Bull Salzburg, and gave it the colors of the company.
It did the same thing in Germany, where it bought SSV Markranstadt in 2009, renamed it RasenBallsport Leipzig, and paid for its steady rise through the leagues until it reached the Bundesliga in 2016.
German league rules said that the company couldn't call the team Red Bull Leipzig. Instead, the team is called RasenBallsport, which in German means "grass ball sport Leipzig," but the club just calls itself RB Leipzig.
Mateschitz made news for his populist ideas as well. He had previously said bad things about how Angela Merkel handled the refugee crisis in 2015 and 2016. Red Bull Media House GmbH owns the Austrian TV station Servus, which is known for putting out right-wing views that are controversial.
Forbes said that Mateschitz was the richest person in Austria in 2022, with a net worth of about 27.4 billion euros ($27 billion). Red Bull is also involved in Formula One. Max Verstappen, a Dutch driver on the team, is the world champion for the second year in a row.
In 2005, Red Bull bought the football club of the Austrian city of Salzburg, and in 2006, it bought the football club of the German city of Leipzig. Dietrich Mateschitz made a lot of money by helping to start one of the most successful energy drink companies in the world, Red Bull.
Dietrich owned 49% of Red Bull at the time of his death. Dietrich was one of the 100 richest people in the world and the richest person in Austria for most of the rest of his life. In a typical year, Red Bull sells more than 10 billion cans of its drinks and makes $9 billion.
In the 1980s, Mateschitz, who was born in Austria, was working as a marketing manager for the German company Blendax. His job took him to Asia, where he found energy drinks.
In 1987, he started Red Bull with a Thai businessman named Chaleo Yoovidhya. He had a 49% stake in the company. Dietrich passed away on October 22, 2022. He was 78 years old.