Dietrich Mateschitz, the Syrian-born Austrian billionaire credited with co-founding Red Bull energy drinks has died at the age of 78, the company announced on Saturday. There was no immediate word where he died, or a cause of death.
Mateschitz, who at one point worked for Unilever marketing detergents, discovered what he would market as Red Bull during a business trip to Asia. In 1984, Mateschitz partnered with Chaleo Yoovidhya to launch Red Bull GmbH, launching the energy drink brand in Austria in 1987. At its launch, Mateschitz held a 49% stake in the company.
Clever marketing would help make the beverage a mainstay throughout the world, bringing in revenues of nearly $8 billion in 2021. According to Forbes, at the time of his death, Mateschitz was worth $20.2 billion and was considered the 71st richest person in the world.
The carbonated and sweet energy drink, which some people may recognize from late nights out or all-night study sessions is much more well known throughout the world for its association with adventure sports. The company was well known for its sponsorships in surfing competitions, off road racing, cycling and Formula 1.
Mateschitz had one son, Mark, who Reuters reports recently acted as managing director of one of his father's investment companies.
