Dietrich Mateschitz, the founder of Red Bull, passed away on Oct. 22, 2022, at the age of 78 after a long illness. Mateschitz has shaped sports worldwide with his company and his marketing strategy.
His company published an email that it had sent to its staff on Saturday:
Dear Bulls!
We have to inform you that Dietrich Mateschitz passed away today.
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.
It is the task and responsibility of all of us to continue his life’s work in his spirit. Thank you for supporting us.
Thank you also for respecting his wish to express your grief in silence and restraint.
Dietrich’s family, relatives, friends and closest colleagues
Mateschitz founded the company Red Bull together with Chaleo Yoovidhya from Thailand in 1984 after learning about the stimulating effect of the energy drink Krating Daeng during a visit to Asia. Mateschitz held 49 percent of the shares in the company, with his business partner’s family holding the other 51 percent.
In addition to the beverage business, several pro teams like the soccer clubs FC Red Bull Salzburg, New York Red Bulls and RB Leipzig, the Red Bull Munich ice hockey club and the Formula 1 teams Red Bull and Alpha Tauri, formerly Toro Rosso, are also part of the Red Bull sports empire. Numerous athletes worldwide are under contract, and the company organizes and sponsors countless sporting events. In addition, a media group operates magazines, the TV station Servus TV and numerous online sites. With his company, Mateschitz became a multi-billionaire. In 2004, Mateschitz founded the private foundation Wings for Life, which supports cutting-edge international research to find a cure for paraplegia.
It remains to be seen who will now take the helm of the company, but the Thai majority owner will most likely determine it. For a few years, his son, Mark Mateschitz, has been traded as a potential successor.
