Dietrich Mateschitz has passed away at the age of 78. Photo: Red Bull Content Pool
Dietrich Mateschitz, the co-founder and owner of Red Bull, has died. He was 78 years old. As of this reporting, the cause of his death has not been released.
“In these moments, the over-riding feeling is one of sadness,” the company wrote in a statement. “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… Thank you also for respecting his wish to express your grief in silence and restraint.”
Mateschitz, along with his co-founder and Thai investor Chaleo Yoovidhya, could be seen as the ones who kicked off the energy drink craze. The first can, according to the Red Bull website, was “inspired by functional drinks from East Asia.” It was sold in 1987.
Red Bull was created after the pair saw the potential in marketing a beverage called Krating Daeng, which was an energy drink created by Chaleo Yoovidhya. Mateschitz first became interested in Krating Daeng after realizing the drink helped his jet lag. They began working together on what would eventually become Red Bull in 1984. For three years, they worked on the formula, then launched it for the first time in Austria in 1987.
The drink quickly gained popularity, driven in part by extensive marketing campaigns linking the brand with everything from extreme sports to soccer and music.
Over the years, under the guidance of Mateschitz and Yoovidhya, Red Bull went from an energy drink manufacturer to a juggernaut of a brand. Known as “Didi,” he also has owned the Red Bull Formula 1 racing team since 2005. Almost from the beginning, Red Bull associated itself with extreme sports. The brand’s first athlete was signed in 1989, when F1 racer Gerhard Berger inked his contract. Since then, Red Bull has spread its wings into everything from surfing to space exploration, and nearly everything in between. At the time of his death, the Austrian was worth somewhere in the vicinity of $27.4 billion, according to Forbes Magazine.
“I am deeply saddened by the news that Dietrich Mateschitz, a hugely respected and much-loved member of the Formula 1 family has passed away,” Stefano Domenicali, president and CEO of Formula 1, said in a statement. “He was an incredible visionary entrepreneur and a man who helped to transform our sport and created the Red Bull brand that is known all around the world.”
Kai Lenny, a Red Bull athlete who first met Mateschitz in Austria when Lenny was just 12 years old, was one of many people whose lives were affected by Mateschitz and Red Bull.
“Didi was one of the kindest people I have ever met,” Lenny wrote. “He was instrumental in making mine and many others’ dreams come true. We’ve lost one of the greats!”
Mateschitz was famously private. He rarely showed his face at public events and spent many of his summers in a small hut in the mountains of Austria. As an energy drink, Red Bull faced criticism by health regulators.
“In a 2011 report, the American Academy of Pediatrics warned about potential adverse effects for youth consuming energy drinks,” Bloomberg reported. “Several European countries, including France and Norway, initially banned the sale of Red Bull.”
In recent years, Mateschitz voiced his opinions about immigration and coronavirus policies. He was staunchly anti-immigration. In creating Red Bull, Mateschitz proved himself to be a marketing genius. The brand shaped how we see action sports today, and proved that, with the right vision, nearly anything is possible.
