Red Bull co-founder and F1 team owner Dietrich Mateschitz dies at 78

Red Bull co-founder and F1 team owner Dietrich Mateschitz dies at 78

Dietrich Mateschitz, co-founder of the Crimson Bull strength consume corporation and proprietor of the brand’s Formula Just one racing group, has died at the age of 78.

The Austrian entrepreneur turned the caffeinated canned consume into 1 of the world’s most effective-identified brands, with its “Red Bull presents you wings” slogan and internet marketing campaigns that revolved all around excessive sporting activities.

Mateschitz had a internet worth of about $20bn, according to Forbes. He and Thai businessman Chaleo Yoovidhya founded Red Bull in 1984, marketed their initially power drinks in Austria three decades later on, and expanded into the US in 1997. Yoovidhya died in 2012.

Far more than 9.8bn cans of Red Bull ended up offered globally very last yr, up by close to 24 for each cent on the prior calendar year, according to the company’s web-site. Team revenues amplified by a comparable proportion to €7.8bn. It employed more than 13,600 people today at the conclusion of final yr.

The inspiration for the vitality consume came to Mateschitz during his travels in Thailand as a internet marketing director for a toothpaste maker now owned by Procter & Gamble.

The Pink Bull billionaire also crafted up a vast sporting activities empire that ranged from System 1 racing groups to soccer clubs. The Purple Bull network of soccer golf equipment includes Austria-dependent Pink Bull Salzburg, Germany-centered RB Leipzig, and the New York Purple Bulls.

Mateschitz bought into the Components 1 automobile racing collection in the 1990s, bought the Jaguar racing team in 2004 and entered the pursuing time less than the Red Bull identify. With Sebastian Vettel at the wheel, Red Bull Racing gained both F1 championships — for drivers and constructors — four several years functioning from 2010-13.

On the other hand, Purple Bull Racing struggled to match Mercedes and British racing driver Lewis Hamilton, a mixture that dominated the championships from 2014.

Last yr, Red Bull driver Max Verstappen claimed the driver’s title from Hamilton in controversial circumstances at the period finale in Abu Dhabi. The Dutchman has by now defended that title and Crimson Bull is set to seize the constructor’s championship from Mercedes as soon as Sunday’s US Grand Prix in Austin.

Mateschitz’s death emerged on Saturday through the F1 race weekend.

“It’s quite, really sad. What a excellent male,” claimed Crimson Bull staff principal Christian Horner on Sky Sports activities. “What he obtained and what he’s finished for so several individuals all around the entire world across diverse sports is next to none.”

Fellow Austrian Toto Wolff, the staff principal at Mercedes, described Mateschitz as a single of the world’s greatest business owners.

“He created a market place that did not exist with strength beverages out of Salzburg and made a single of the finest manufacturers in the globe. There’s no just one like him.”

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