Red Bull co-founder and proprietor of F1 crew Dietrich Mateschitz dies at 78

Dietrich Mateschitz, the co-founder of power drink firm Red Bull and founder and proprietor of the Red Bull Formula One racing crew, handed away on the age of 78.

Red Bull chief Dietrich Mateschitz speaks on June 13, 2022, in Salzburg, Austria. The Austrian billionaire, co-founder of power drink firm Red Bull and founder and proprietor of the Red Bull Formula One racing crew, has died (Photo: AP)

By Associated Press: Austrian billionaire Dietrich Mateschitz, the co-founder of power drink firm Red Bull and founder and proprietor of the Red Bull Formula One racing crew, has died. He was 78.

Officials with the Red Bull racing crew on the United States Grand Prix in Austin, Texas, stated Saturday that Mateschitz had died.

There was no rapid phrase the place he died, or a reason for dying. Mohammed Ben Sulayem, president of motor sports activities governing physique FIA, stated Mateschitz was “a towering figure in motor sport.”

“The thoughts of all the FIA family are with his loved ones at this time and he will be greatly missed.”

Mateschitz gained fame as the general public face of Red Bull, an Austrian-Thai conglomerate that claims it offered almost 10 billion cans of its caffeine and taurine-based drink in 172 international locations worldwide final yr.

Red Bull founder Dietrich Mateschitz attends the beginning of the Formula One Grand Prix, on the Red Bull Ring racetrack, in Spielberg, Austria, on July 3, 2016 (AP Photo)

Mateschitz not solely helped the power drink turn out to be in style around the globe, but in addition constructed up a sports activities, media, actual property and gastronomy empire across the model.

With the rising success of Red Bull, he considerably expanded his investments in sports activities. Red Bull now operates soccer golf equipment, ice hockey groups and F1 racing groups, and has contracts with tons of of athletes in varied sports activities.

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Mateschitz and Thai investor Chaleo Yoovidhya based the corporate in 1984 after Mateschitz acknowledged the potential in advertising Krating Daeng – one other power drink created by Chaleo – for a western viewers. Red Bull says Mateschitz labored on the formulation for 3 years earlier than the modified drink was launched beneath its new identify in his native Austria in 1987.

Dietrich Mateschitz celebrates after successful the German second soccer division Bundesliga match between RB Leipzig and Karlsruhe SC (AP Photo)

Under Mateschitz’ stewardship, Red Bull shortly elevated its market share, first in Europe, then within the United States, helped by advertising campaigns selling the drink’s claimed stimulating properties and in depth sponsorship agreements in motorsports, soccer, excessive sports activities and the music business.

The Red Bull Racing crew has loved success in Formula 1, successful the constructors’ championship in 2010, 2011, 2012 and 2013, whereas German driver Sebastian Vettel received 4 drivers’ championships in row whereas signed to the crew.

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Red Bull operates soccer groups in high divisions throughout Austria, Germany, Brazil and the United States. The firm began by shopping for Austrian membership SV Austria Salzburg in 2005 and rebranding it within the firm colours beneath the identify Red Bull Salzburg.

Red Bull driver Sebastian Vettel of Germany, left, and Dietrich Mateschitz of Austria, crew proprietor of Red Bull and Toro Rosso F1 groups, proper, rejoice after Vettel turned Formula One World Champion 2010 (AP Photo)

It repeated the transfer in Germany, the place it purchased fifth-tier membership SSV Markranstädt in 2009, rebranded it as RasenBallsport Leipzig, and financed its regular progress by means of the league system until it was promoted to the Bundesliga in 2016. German league rules prevented the corporate from naming the crew Red Bull Leipzig – its identify in German, RasenBallsport, means “grass ball sport Leipzig” however the membership simply refers to itself as RB Leipzig.

Mateschitz additionally made headlines for his populist views. He beforehand criticized German chancellor Angela Merkel for her dealing with of the refugee disaster over 2015-16. The Austrian Servus TV station, owned by Red Bull Media House GmbH, is understood for selling right-wing provocative views.

Mateschitz purchased the Jaguar Racing crew from earlier proprietor Ford on the finish of 2004 and rebranded it as Red Bull for the 2005 season. Later that yr, he then additionally purchased Minardi and renamed it Toro Rosso, astutely utilizing the crew as a feed crew for Red Bull.

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Published On:

Oct 23, 2022