Written by: Katie Scott, Business Reporter
Dietrich Mateschitz, the Austrian founder of the Red Bull brand of energy drinks, has died.
The announcement was made on the company’s website on 22nd October. It says: “In these moments, the overriding feeling is one of sadness. But soon the sadness will make way for gratitude - gratitude for what he changed, moved, encouraged and made possible for so many individual people. We will remain connected to him respectfully and lovingly.”
Mateschitz formed Red Bull in 1987 after a trip to Asia in which he discovered energy drinks. He teamed up with Thai businessman Chaleo Yoovidhya and took a 49 percent stake in the nascent business. Yoovidhya passed away in 2012 and his son, Chalerm, now runs the business.
The drinks brand is synonymous with extreme sports including off-road racing, aero-acrobatics and catamaran sailing. Mateschitz is reported to have owned his own collection of historic aircraft. Mateschitz was also the co-founder of the Red Bull Formula 1 racing team. Formula 1 tweeted: “The co-founder of Red Bull made an unforgettable contribution to F1 and leaves a lasting legacy.”
Forbes writes that Mateschitz had a fortune at $20.2 billion; he was the 71st richest person in the world at the time of his death.
