Dietrich Mateschitz, the owner of Red Bull, died at the age of 78
The energy drink brand’s engagement in Formula 1 was made possible by the Austrian billionaire who launched the business in 1984.
Its entry into racing, which started in the mid-1990s, was spearheaded by Mateschitz, who controlled 49% of the energy drink company.
He is survived by his son, Mark Gerhardter, and his partner, Marion Feichtner.
At the Vienna University of Economics and Business, Mateschitz earned a marketing degree in 1972.
Prior to joining Blendax, a Procter & Gamble-owned German cosmetics company, he worked for Unilever.
He learned about Red Bull’s predecessor, Krating Daeng, while travelling for work. Chaleo Yoovidhya invented a beverage called Krating Daeng.
In partnership with Sauber, Red Bull made its F1 debut in 1995. By the time the partnership ended at the end of 2001. Red Bull had increased its ownership to 60%.
He founded Red Bull Racing and bought the Jaguar Racing team from its previous owners, Ford, in November 2004.
In the same year, Mateschitz bought Austria’s A1-Ring, did a lot of work on it . And renamed it the Red Bull Ring before it reopened in May 2011.
After a year, he and Gerhard Berger bought the Minardi team from Paul Stoddart and changed its name to Scuderia Toro Rosso.
Sebastian Vettel led Red Bull to its first championships in 2010 and 2011, winning both in the following three seasons.
In addition to racing, Mateschitz bought the football teams SV Austria Salzburg and MetroStars . which he renamed Red Bull Salzburg and New York Red Bulls.
He established the football team RB Leipzig in 2009 . And is the owner of the German ice hockey team EHC Munchen, which he renamed Red Bull München.