Status: 23.10.2022 00:22
It all started with a sugary energy drink in the 1980s: With Red Bull, Dietrich Mateschitz built an empire that changed and shaped the world of sports. Now the billionaire has died at the age of 78.
The Austrian billionaire and “Red Bull” owner Dietrich Mateschitz is dead. The Red Bull Formula 1 team confirmed corresponding media reports. The broadcaster Sky News and German-speaking media had previously reported that the 78-year-old had died after a long illness. A corresponding e-mail was sent to all Red Bull employees.
“We knew he was in a difficult state of health,” said Red Bull’s motorsport advisor Helmut Marko Sky in the Formula 1 paddock in Austin. “Now that it has happened, it is still unbelievable that such a great personality had to go.” Mateschitz was “unique”, “but he was a modest person”.
Formative figure in sport
With his company and his marketing strategy, Mateschitz shaped sport worldwide for many years. In addition to the Bundesliga soccer club RB Leipzig, the Austrian empire also includes the ice hockey club Red Bull Munich and the Formula 1 teams Red Bull and Alpha Tauri, formerly Toro Rosso. Numerous athletes around the world are under contract with Red Bull.
In 1884 Mateschitz founded the company – together with the Thai Chaleo Yoovidhya. During a visit to Asia, he had previously become acquainted with the stimulating effect of the energy drink Kraetin Daeng (“Red Bull”). With Red Bull, Mateschitz became a multi-billionaire. At the end of September, Forbes magazine ranked him 75th among the world’s super-rich with assets of $19 billion (19.7 billion euros). Mateschitz held 49 percent of the company’s shares.
After his initial interest in architecture, the Styrian decided to study business administration at the Vienna University of Applied Sciences. Mateschitz, who was born on May 20, 1944 in St. Marein im Mürztal, then went through the marketing department of Unilever and Jacobs to the toothpaste manufacturer Blendax before Mateschitz went into business for himself with Red Bull.
Successful with Sebastian Vettel and RB Leipzig
The company’s marketing concept in sports primarily included direct identification with the brand and its name. The fact that the RB at RB Leipzig stands for RasenBallsport and not for Red Bull is only due to the ban on advertising in club names in German professional football. In Salzburg and New York, both clubs bear the company name.
In Formula 1, Mateschitz celebrated the most successful time with Sebastian Vettel, from 2010 up to and including 2014 the native of Heppenheim and Red Bull won the drivers’ and constructors’ titles. Last year, Red Bull returned to the throne with world champion Max Verstappen and is dominating the premier motorsport class again this year.
In addition to sports and real estate, Mateschitz’ empire also includes various media, including his own TV station. There has also been criticism of the often high-risk sports in and with which Red Bull advertises itself, as fatal accidents and falls have occurred during advertising shoots.
It is not clear who will take over the management of the company. For a few years now, his son, whom Mateschitz has with his former partner, has been developed as a potential successor.