Austrian billionaire Dietrich Mateschitz, the co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, has died.
Officials with the Red Bull racing team at the United States Grand Prix in Austin, Texas, said Saturday that Mateschitz had died.Red Bull team principal Christian Horner paid tribute to Mateschitz shortly before its drivers Max Verstappen and Sergio Perez got in their cars for qualifying at the U.S. race.
Mateschitz gained fame as the public face of Red Bull, an Austrian-Thai conglomerate that says it sold nearly 10 billion cans of its caffeine and taurine-based drink in 172 countries worldwide last year. Mateschitz and Thai investor Chaleo Yoovidhya founded the company in 1984 after Mateschitz recognized the potential in marketing Krating Daeng – another energy drink created by Chaleo – for a western audience. Red Bull says Mateschitz worked on the formula for three years before the modified drink was launched under its new name in his native Austria in 1987.
Red Bull operates soccer teams in top divisions across Austria, Germany, Brazil and the United States. The company started by buying Austrian club SV Austria Salzburg in 2005 and rebranding it in the company colors under the name Red Bull Salzburg.
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