Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, October 26, 2022

The man who made Red Bull the world's best-known energy drink and amassed a $25 billion fortune has died aged 78

The Austrian billionaire and Red Bull cofounder, Dietrich Mateschitz, has died after battling a long illness. Red Bull is the world’s best-selling energy drink and helped Mateschitz amass a $25 billion fortune.

Mateschitz used this fortune to create a Formula 1 team that is known as one of the most successful teams in the sport. Team principal Christian Horner told reporters at the US Grand Prix last weekend in Austin, TX how grateful he is for Mateschitz for providing opportunities based on his vision for the sport. “Never be afraid to chase your dreams.” 

Stefano Domenicali, F1 CEO, said the F1 community was deeply saddened by his passing, recounting how Mateschitz was a widely respected visionary that helped transform the sport and was a “much-loved member of the Formula 1 family.”

Through Red Bull, Mateschitz also owned football clubs in Austria, New York, and Leipzig, and sponsored sports such as surfing, cliff diving, winter sports, and mountain biking.

For more information see Sam Tabahriti “The man who made Red Bull the world’s best-known energy drink and amassed a $25 billion fortune has died aged 78”, Business Insider, October 23, 2022.

Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.


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