Dietrich Mateschitz, the Austrian billionaire founder and proprietor of Red Bull, has died aged 78 after a critical sickness with most cancers.
Considered to be the richest man in Austria, the entrepreneur constructed a world empire across the power drink.
Mr Mateschitz’s fortune is estimated at round €25bn (£21.8bn), placing him 51st on Forbes’ checklist of the world’s richest individuals.
Formula 1 praised his “unforgettable contribution” to the game and stated he leaves behind a “lasting legacy”.
Little is understood about Mr Mateschitz’s non-public life – he was publicity shy and infrequently gave interviews.
He lived in Salzburg together with his long-term girlfriend and as soon as stated years in the past that he drank 10 to 12 cans of Red Bull a day.
After graduating from the University of World Trade in Vienna, he labored as a advertising specialist for varied corporations within the Seventies.
On his enterprise journeys to Asia, he received to know the market of power and stimulant drinks, which on the time had been nonetheless utterly unknown in Europe and the US.
In 1984, along with Thai entrepreneurs, he based Red Bull GmbH, through which he held a 49% stake.
After modifying the recipe of a Thai power drink and creating a advertising idea, Red Bull was launched to the market in 1987.
The bubbly, carbonated, candy drink, whose style is described as just like that of gummy bears, rose to turn into the worldwide market chief after a troublesome market entry.
The group achieved a turnover of €7.8bn (£6.8bn) in 2021 and bought 9.8 billion Red Bull cans worldwide.
Mateschitz was the founder and proprietor of Red Bull Racing, a Formula 1 racing crew primarily based in Milton Keynes.
News of his demise emerged simply earlier than qualifying on the United States Grand Prix, and Red Bull crew principal Christian Horner informed Sky Sports News they had been decided to “do our best for him” throughout this weekend’s races.
He added: “It is very, very sad. What a great man. We are just incredibly grateful for him and everything he has done, everything he has supported us with over the years and so many drivers, so many team members, so many people in this pitlane owe him so much.
“It is vital that we rejoice and recognise the contribution that he has made. Quite a exceptional man, an inspiration, and one which we owe an enormous quantity.”
Source: information.sky.com”
