Billionaire energy drink mogul Dietrich Mateschitz has died at his home in Austria on October 22, 2022. After long time battle with pancreatic cancer, he died at age 78 years old.
Mateschitz founded Red Bull in the 1980s and transformed it into one of the most recognizable brands in the world. He leaves behind a fortune estimated at $27 billion, making him one of the richest people on the planet.
Born in Salzburg, Austria, in 1940, Mateschitz’s early career was in marketing. He joined beverage company Blendax in 1969 and oversaw its rollout of a successful toothpaste brand in Japan.
In 1984, he met Thai businessman Chaleo Yoovidhya, who had developed an energy drink called Krating Daeng. The two men struck up a partnership to market the drink outside of Thailand and Red Bull was born.
The new company faced skepticism from customers who thought the product sounded too strange to be true. But Red Bull quickly found success with its aggressive marketing campaigns targeting young people looking for an extra boost.
It soon became the best-selling energy drink on the planet and made Mateschitz a billionaire many times over.. A devout Catholic, Mateschitz once said that he would never take his wealth with him when he died and instead planned to give it all away to charity.
Mateschitz was known for his reclusive lifestyle and rarely gave interviews. He preferred to let the Red Bull brand speak for itself. In a statement, Red Bull said that Mateschitz “created something truly unique and inspirational.”
“The world has lost a great entrepreneur and visionary,” the company said. “His extraordinary achievements and legendary creativity have inspired people all over the world.”
Mateschitz is survived by his partner, Gabriela DiStefano, and their three children.