Billionaire Red Bull Founder Dietrich Mateschitz Dies At Age 78

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Billionaire Red Bull Founder Dietrich Mateschitz Dies At Age 78

Dietrich Mateschitz was the creator of Red Bull. He came up with the idea after studying marketing techniques. Red Bull is now considered the father of energy drinks in the western world thanks to its success.

Dietrich Mateschitz carved a multi-billion dollar fortune through the creation of Red Bull. His death at the age 78 has led to sadness, according to the company, which announced it on its website. However, their message of gratitude would soon replace this sorrow as people began recognizing the positive impact that Mateschitz had on the world. By making possible so many positive changes, he encouraged people all over the world.

Red Bull was founded in 1987 by Austrian Didi Mateschitz as a partnership between himself and businessman Chaleo Yoovidhya of Thailand. Yoovidhya sold the partnership rights to Red Bull to Mateschitz so that he could invest in Blendax, a German consumer products company. While traveling to Asia as a marketing executive, Mateschitz discovered energy drinks and decided to combine them with carbonation and a bold can design. The resulting drink was originally sold in brown glass containers; once the partners changed its packaging, it became one of the most popular caffeinated drinks in Asia.

Red Bull is a popular brand that sponsors adventure sports, fast living and even Formula 1. It originated from Austria and is associated with drinking fast-paced lifestyle. Red Bull received nearly $8 billion, or $7.8 billion euros, in revenue in 2021. Over 9.8 billion cans of Red Bull were sold by the company during its time in business. At the time of his death, Mateschitz was the 71st richest man in the world. His fortune was worth $20.2 billion, according to Forbes. Chalerm Yoovidhya, Mateschitz’s son who is 71 years old, owns 51% of the shares in Red Bull Corporation. His net worth is estimated at $24.7 billion.

Dietrich Mateschitz owned a Formula 1 racing team in England named Red Bull Racing. In 2003, he bought an island in Fiji, Laucala, for an unrevealed price. He turned the 2,950-acre island into a super-exclusive luxury resort with only 25 villas on it. Mateschitz regularly visited the island once or twice a year for extended periods of time. Mateschitz spent $1.7 million on an extreme submarine for guests at Laucala in 2013. Additionally, he owns Hangar-7, an event center located on Salzburg’s airport grounds that houses Flying Bulls historic aircraft. In Austria, Mateschitz also owned a property known as Hartsmanns Hof that housed his collection.

Markus Mateschitz is his son, and the only person living with him in Salzburg.


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