Dietrich-Mateschitz

Red Bull Formula One owner Dietrich Mateschitz dies at 78

Austrian billionaire Dietrich Mateschitz, the co-founder of Red Bull energy drinks and founder and owner of Red Bull Formula One racing teams, has passed away. He was 78.

Officials from Red Bull announced Mateschitz’s passing Saturday at the United States Grand Prix in Austin. Mateschitz’s cause of death and whereabouts were not immediately known.

Mohammed Ben Sulayem (president of the FIA motorsports governing body) said Mateschitz was a “tombing figure” in motorsport.

“All the FIA Family’s thoughts are with him at this time, and he will be deeply missed.”

Mateschitz was the face of Red Bull, an Austrian Thai conglomerate that claims it sold almost 10 billion cans last year of its caffeine- and taurine-based beverage in 172 countries.

Mateschitz helped make the energy drink popular all over the globe and also created a media, media, and gastronomy empire around it.

Red Bull’s growing popularity led to significant investments in motorsports, particularly extreme sports. Red Bull now has F1 racing teams, football clubs, and ice hockey teams. Red Bull has also signed contracts with hundreds of athletes from various sports. They also offer a driver training program that will help racers reach the highest levels.

Max Verstappen said, “It’s been difficult news for everyone — what it has meant for Red Bull and of course, the sport and especially for me,” after he won his second consecutive F1 title just two weeks ago.

Verstappen will attempt to tie Sebastian Vettel and Michael Schumacher with an F1-record 13 wins in a season at Circuit of the Americas. He’ll also try to win the Red Bull constructors title.

Verstappen stated, “What he did for me, my career, and in general, my life, it was tough, it was a really difficult day.” “There is still a race ahead of us and we will try to make him proud tomorrow.”

 

Mateschitz and Chaleo Yoovidhya, a Thai investor, founded the company in 1984. Mateschitz saw the potential for marketing Krating Daeng (another energy drink made by Chaleo) to a western audience. Red Bull claims Mateschitz worked three years on the formula before the modified drink was released in Austria under a new name in 1987.

Red Bull grew quickly under Mateschitz’s leadership, first in Europe and then in the United States. This was due to marketing campaigns that promoted the drink’s stimulant properties and extensive sponsorship deals in motorsports and soccer.

Red Bull Racing has had success in Formula 1 with the win of the constructors’ title in 2010, 2011, 2012, and 2013. Vettel, a German driver, won four driver’s championships while signed to the team.

Verstappen was a Red Bull driver development student and became the youngest F1 driver to win a grand Prix in 2015 when he joined the junior Toro Rosso team. Verstappen is the dominant driver in F1 today.

He’s a man we all need to be grateful for, because of the opportunities he provided, his vision, his strength of character and not being afraid to chase our dreams. Christian Horner, Red Bull’s team principal, said that he proved that it is possible to make a difference in F1 and that he was able to do so here at F1.

Horner said, “We are just incredibly thankful for him, all that he has done, and all that he has supported us over the years.” He is a hero to so many drivers, team members, and everyone in the pit lane. He was extremely proud of the team and proud of all we have achieved. He’s also been a passionate supporter of everything we do.

Red Bull has soccer teams in the top divisions of Brazil, Brazil, and Austria. Red Bull Salzburg was founded in 2005 by the acquisition of the Austrian soccer club SV Austria Salzburg.

It made the same move in Germany where it purchased fifth-tier club SSV Markranstadt and rebranded it, RasenBallsport Leipzig. The company also funded its steady growth through the league system until it was promoted to Bundesliga in 2016. German league regulations prohibited the company from naming Red Bull Leipzig. The club’s name, RasenBallsport Leipzig, is actually “grass ball sport Leipzig”.

Mateschitz was also criticized for his populist views. Mateschitz previously criticized Angela Merkel, the German chancellor, for her handling of the refugee crisis in 2015-16. Red Bull Media House GmbH owns the Austrian Servus TV Station. It is well-known for promoting right-wing provocative views.

Mateschitz purchased Jaguar Racing from Ford’s previous owner at the end of 2004 and rebranded the team as Red Bull in 2005. He also purchased Minardi later that year and renamed it, Toro Rosso. This was to be used as a feeder team by Red Bull.

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