Mark Mateschitz is now the wealthiest millennial in Europe! The 30-year-old son of the recently deceased Red Bull co-founder Dietrich “Didi” Mateschitz earned his new title upon inheriting a 49 per cent stake in the company earlier this month – he’s now worth US$15.7 billion, according to the Bloomberg Billionaires Index.
Since its foundation in the 1980s, Red Bull has become a beverage behemoth in the industry. It even bagged annual revenues of around US$8 billion in 2021 after selling almost 10 billion cans of its flagship beverage, per Yahoo!
So, who is Mark Mateschitz, and what will be his new role at his late dad’s energy-drink empire?
He hails from Austria
Mateschitz spent his childhood as far away as possible from the spotlight. Per the Spanish newspaper El País, the young man initially took his mum’s surname. He only began using his dad’s surname upon completing his degree in business administration at Salzburg’s University of Applied Sciences.
Eventually, Mateschitz entered the Red Bull empire and took on senior positions in its companies, making him a viable successor to his father.
He launched his own drinks business
Taking after his tycoon dad, who co-founded Red Bull with Thai entrepreneur Chaleo Yoovidhya, Mateschitz also came up with his own beverage business in 2018.
Per El País, Mateschitz has been CEO of the soft drinks, water and beer company Thalheimer Heilwasser GmbH for almost four years. His business produces beer and lemonade from water sourced from one of Austria’s oldest springs.
He inherited a 49 per cent stake in the Red Bull empire
Mateschitz’s inheritance racks up to US$15.7 billion, per the Bloomberg Billionaires Index. Late mogul Didi not only left his only son almost half of the world’s most prominent energy drinks firm, but also the two Formula 1 racing teams that he owned.
Rumour has it that Mateschitz may also be bequeathed the luxury properties that the late magnate bought over the years, which include a Fijian island, castles and villas in Austria, and a property in London’s Knightsbridge, per Bloomberg.
He owns two Formula One racing teams
Even in his younger years, Mateschitz would often accompany his father to Formula One races, according to Australian publisher Dmarge. As he inherits stakes at Red Bull Racing and Scuderia AlphaTauri, signs already point to the young heir following in the footsteps of his dad and investing heavily in sports sponsorship.
Apart from auto racing, Red Bull also owns the German football club RB Leipzig and supports other sports such as cliff diving, surfing, mountain biking and ice hockey.
He’s taking on a new role as a shareholder
Mateschitz previously helmed Red Bull’s organic division, which oversees the production of drinks through natural resources. After the death of his mogul dad, the 30-year-old heir announced in a statement that he would be stepping down from his role to direct his energy on his new role as a shareholder, revealing that the decision “did not come easy”.
“But I do not believe one should be both an employee and a shareholder of the same company,” he stated in an internal memo, as reported by Fortune. “I will concentrate on my role as a shareholder, and I will interpret this and express myself in a way that makes sense to me.”
According to Bangkok Post, there will be separate heads of the beverage operations as well as projects and investments under the new Red Bull structure. Just over half of the multibillion company’s shares, 51 per cent, belong to the family of its Thai co-founder Chaleo Yoovidhya.
Note: This story was originally published on SCMP and has been republished on this website.