Dietrich Mateschitz Dead: Red Bull Co-Owner Dies, Aged 78

Created By: StateWeb

Oct 22, Dietrich Mateschitz, the Austrian billionaire founder and owner of Red Bull, died on Saturday at the age of 78.

Credit: Social Media

Dietrich Mateschitz died after a long battle with a serious illness of cancer.

Credit: Social Media

Championship leader Red Bull Formula One team confirmed Mateschitz's death on Saturday.

Credit: Social Media

The Styrian-born entrepreneur built a global empire on the energy drink Red Bull and is considered Austria's richest man.

Credit: Social Media

Mateschitz's net worth is estimated at 25 billion euros ($24.65 billion). This places him 51st on Forbes' list of the world's richest people.

Credit: Social Media

Red Bull team principal Christian Horner said: "Very sad news we have learned of Dietrich's death."

Credit: Social Media

He is the reason that we are here. It was his passion for Formula 1, and his vision, that is the reason that he has two teams in the Formula 1 pitlane.

Credit: Social Media

But Mateschitz’s legacy in F1 will be immense regardless. He turned a sponsor into a charge of a hugely successful empire.

Credit: Social Media

Thank You For Reading!

Next: Masato Kudo Dead: Former Japanese Soccer Player Dies Aged 32