Red Bull co-founder and F1 team owner Dietrich Mateschitz dies at 78

Dietrich Mateschitz, co-founder of the Crimson Bull power consume company and operator of the brand’s Method One racing staff, has died at the age of 78.

The Austrian entrepreneur turned the caffeinated canned consume into one of the world’s greatest-regarded brand names, with its “Red Bull presents you wings” slogan and advertising campaigns that revolved all over severe sports.

Mateschitz experienced a web really worth of approximately $20bn, according to Forbes. He and Thai businessman Chaleo Yoovidhya founded Purple Bull in 1984, sold their to start with electricity drinks in Austria a few several years later on, and expanded into the US in 1997. Yoovidhya died in 2012.

A lot more than 9.8bn cans of Pink Bull have been bought globally final calendar year, up by about 24 per cent on the prior calendar year, in accordance to the company’s web site. Group revenues enhanced by a identical percentage to €7.8bn. It used around 13,600 men and women at the finish of previous calendar year.

The inspiration for the power drink arrived to Mateschitz during his travels in Thailand as a advertising and marketing director for a toothpaste maker now owned by Procter & Gamble.

The Purple Bull billionaire also created up a large sports empire that ranged from Formulation 1 racing groups to football clubs. The Crimson Bull community of soccer clubs contains Austria-based mostly Purple Bull Salzburg, Germany-centered RB Leipzig, and the New York Crimson Bulls.

Mateschitz got into the Formulation 1 motor vehicle racing sequence in the 1990s, acquired the Jaguar racing workforce in 2004 and entered the adhering to time underneath the Crimson Bull title. With Sebastian Vettel at the wheel, Purple Bull Racing won equally F1 championships — for drivers and constructors — four several years running from 2010-13.

However, Purple Bull Racing struggled to match Mercedes and British racing driver Lewis Hamilton, a blend that dominated the championships from 2014.

Last calendar year, Red Bull driver Max Verstappen claimed the driver’s title from Hamilton in controversial conditions at the time finale in Abu Dhabi. The Dutchman has by now defended that title and Pink Bull is set to seize the constructor’s championship from Mercedes as soon as Sunday’s US Grand Prix in Austin.

Mateschitz’s death emerged on Saturday all through the F1 race weekend.

“It’s pretty, really sad. What a excellent man,” claimed Crimson Bull team principal Christian Horner on Sky Sports. “What he obtained and what he’s finished for so quite a few individuals close to the entire world across different sports activities is 2nd to none.”

Fellow Austrian Toto Wolff, the crew principal at Mercedes, described Mateschitz as just one of the world’s biggest business owners.

“He created a market place that did not exist with energy beverages out of Salzburg and manufactured just one of the most effective manufacturers in the entire world. There is no a person like him.”