Dietrich Mateschitz is dead. The Red Bull founder died at the age of 78. “We knew he was in a very serious health condition. But still, now that it’s happened, it’s unbelievable for all of us,” Red Bull’s motorsport consultant Helmut Marko told TV broadcaster Sky in the Formula 1 paddock in Austin on Saturday.
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.
assets of nearly $20 billion
Mateschitz founded the company together with the Thai Chaleo Yoovidhya in 1984. During a visit to Asia, he had previously become acquainted with the stimulating effect of the energy drink Kraetin Daeng (“Red Bull”). Mateschitz held 49 percent of the shares in the company, his business partner’s family the other 51 percent. It is initially unclear 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.
With his company, Mateschitz became a multi-billionaire. At the end of September, Forbes magazine listed him as 75th among the world’s super-rich with assets of 19 billion dollars (19.7 billion euros). After his initial interest in architecture, the Styrian decided to study at the Vienna University of Applied Sciences to study business administration.
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. The company’s marketing concept in sports primarily included direct identification with the brand and its name.
Criticism of high-risk sports
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.
Formula 1 boss Stefano Domenicali said: “I am deeply saddened by the news that Dietrich Mateschitz, a highly respected and well-loved member of the Formula 1 family, has passed away”. And further: “I will miss him very much, just as Formula 1 will miss him as a whole and our thoughts and prayers are with his family, his friends and the Red Bull and Alpha Tauri racing teams at this sad time”.
