Dietrich Mateschitz, a co-owner of the famous Red Bull energy drink, has passed away aged 78 after a long battle with illness.
Mr Mateschitz owned the company along with Chaleo Yoovidhya, who had created the Krating Daeng drink in Thailand.
Mr Yoovidhya passed away in 2012, leaving his son Chalerm as majority shareholder.
Mr Mateshitz’s wealth was estimated to be around €25 billion.
Red Bull, launched in 1987, is the world’s biggest energy drink brand, with 38 per cent market share as of 2019.
Mr Mateschitz came across Mr Yoovidhya’s drink while on a business trip to Thailand as a Procter & Gamble sales representative. After finding that Krating Daeng cured his jet lag, he worked with the Thai creator to adapt it for Western markets.
Red Bull is today available in over 170 countries, including across the entire European Union.
It is known for its association with extreme sports, as well as with football and Formula 1.
Before his passing, Mr Mateschitz got to see Red Bull’s F1 driver Max Verstappen win his second consecutive world title, just two weeks ago.
The company is known of its standards of ethical, fair trade and cruelty free products
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