Dietrich Mateschitz’s son, co-founder of Red Bull, becomes the youngest wealthy person in Europe

Mark Mateschitz, son of Dietrich Mateschitz, became, at the age of 31, the youngest man to become a multimillionaire after inheriting $615 million, approximately 582 million euros, following the death of his father. On Saturday, October 22, 2022, in the midst of the US Grand Prix weekend in Austin, Dietrich Mateschitz passed away at the age of 78 due to pancreatic cancer. Leaving behind a team that has and continues to make its mark in F1 history. His son Mark inherits his father’s fortune as well as the giant Red Bull.

Last year, the company sold over 11 billion cans worldwide, resulting in a net turnover of $9.68 billion and $1.56 billion in profits. This amount was distributed to its shareholders. Mateschitz owns 49% of the shares in Red Bull while the remaining 51% is held by the Thai Yoovidhya family. The various sponsors of the company, both in Formula 1 and in other sports, brought in over one billion euros to the Austrian firm in 2022, for the first time.

However, the amount paid is the lowest in the last three years, as a result of a decrease in profitability in 2022, caused by an increase in production and marketing costs for the company. These cost increases have almost nullified a 24% increase in revenue.

The successes of the Red Bull team in Formula 1.

17 years after its arrival in F1, thanks to the purchase of the Jaguar team for one British pound, Red Bull has become one of the best teams in the sport. To date, the Austrian team has won 108 victories, thanks to Mark Webber, Sebastian Vettel, Daniel Ricciardo, Max Verstappen, and Sergio Perez, 258 podium finishes in 364 Grand Prix races, but above all, seven driver championships, four with Vettel, three with Verstappen, and six constructor titles.

The Scuderia AlphaTauri/Toro Rosso has also won races, with two victories at the Monza circuit, with Vettel in 2008 and Gasly in 2020. It has also achieved five podium finishes since its creation.

The Austrian brand has also set up an academy to identify the best talents in motorsport and bring the top prospects to F1. In 2023, six out of the twenty drivers on the grid were trained by Red Bull: Ricciardo, Verstappen, Sainz, Gasly, Albon, and Tsunoda.