Dietrich Mateschitz Wiki
Dietrich Mateschitz Biography
RED BULL founder Dietrich Mateschitz has passed away at the age of 78 after a long illness, which has plunged the F1 team into mourning.
The Austrian billionaire entrepreneur, who co-founded the energy drink company in 1984, has seen the company create high-profile sports teams around the world.
Red Bull founder Dietrich Mateschitz has died at the age of 78.
Mateschitz, believed to be worth around £24bn, was a Blendax toothpaste salesman when he discovered Krating Daeng, the drink that would later become Red Bull, on his travels.
He owned 49 percent of the energy drink brand and was the driving force behind his move into the sport.
Red Bull first entered F1 in 1995 in association with the Sauber F1 team.
In November 2004 Mateschitz purchased the Jaguar Racing team from Ford to create Red Bull Racing.
He appointed Christian Horner that January to manage the team, becoming the youngest team manager at the time.
Horner said: “He is very, very sad, what a great man. He is in a class of his own. What he has accomplished and done for so many people around the world is second to none.”
F1 boss Stefano Domenicali said in a statement: “I am deeply saddened by the news that Dietrich Mateschitz, a much-respected and much-loved member of the Formula 1 family, has passed away.
“He was an incredible visionary entrepreneur and a man who helped transform our sport and created the Red Bull brand that is known around the world.
“He will be greatly missed, as will the entire Formula 1 community, and our thoughts and prayers are with his family, friends and the Red Bull and AlphaTauri teams at this very sad time.”
Red Bull has won six drivers’ championships and can wrap up a fifth constructors’ championship this weekend in Austin.
Mateschitz also played a key role in Red Bull’s expansion into football.
He founded RB Leipzig in 2009 and has seen the German team become Champions League regulars after a rapid rise.
Austrian team Red Bull Salzburg, MLS franchise New York Red Bulls and Brazilian team Red Bull Bragantino are also among the company’s portfolio.
Mateschitz also founded the German ice hockey team Red Bull München.