Dietmar Mateschitz, the controversial Austrian mastermind behind Red Bull, died over the weekend at the age of 78 after a long period of suffering. It had already been known for some time that he had been battling pancreatic cancer. Mateschitz licensed and modified a Thai energy tonic in the 1980s and made it a global brand by sponsoring sports, including professional soccer, Formula One auto racing, snowboarding, and dirt biking. Forbes estimated his net worth at $27 billion.
Mateschitz also developed a radical new approach to soccer by building a network of Red Bull-affiliated clubs stretching from Austria to Germany to New York to Brazil.
Dietmar Mateschitz leaves behind a complicated legacy. He held 49 percent of Red Bull, and the majority owner is the Thai entrepreneurial Yoovidhya family. Their holding company T. C. Agrotrading also owns 49 percent of the group, with the remaining two percent going to family head Chalerm Yoovidhya.
Mateschitz was able to steer the company thanks to his personality as a minority shareholder. Insiders now believe that this is being transferred to his heir Mark Mateschitz. It is considered unthinkable that the Yoovidhyas will also transfer his father’s powers to him.
