Austrian tycoon Dietrich Mateschitz, founder of the Red Bull empire, dies at 78

Oct. 23 () –

The Austrian businessman Dietrich Mateschitz, founder and head of the sports, media, real estate and gastronomic empire around the Red Bull energy drink, has died this Sunday at the age of 78, the organization has confirmed.

“In those moments, sadness hides all other feelings, but soon it will give way to gratitude for what he managed to make possible for so many people,” the group laments.

Mateschitz founded Red Bull GmbH in 1984, together with Thai entrepreneurs, after modifying a recipe for a Thai energy drink into a product that he introduced to the market in 1987.

Last year, the group achieved a turnover of 7.8 billion euros and sold 9.8 billion cans worldwide, a pillar of the expansion of the rest of the conglomerate, which has spread to various areas, including sports.

Mateschitz was the founder and owner of the Red Bull Racing Formula 1 team and his company has lent his name and money to the RB Leipzig, Red Bull Salzburg and New York Red Bulls football teams.

Mateschitz’s fortune is estimated at around €25 billion, and he was ranked 51st on the Forbes list of the world’s richest people.