Founder of Red Bull dies

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 Red Bull founder dies

Austrian billionaire Dietrich Mateschitz, co-founder of the Red Bull energy drink company and founder and owner of the Red Bull Formula One racing team, has died. He was 78 years old.

Representatives of the Red Bull racing team at the US Grand Prix in Austin, Texas, reported on October 22 that Mateschitz had died.

Mateschitz became famous as a public figure Red Bull, an Austrian-Thai conglomerate that sold almost 10 billion cans of its drink in 172 countries last year.

Mateschitz not only helped the energy drink become popular around the world, but also built an empire around the brand sports, media, real estate and gastronomy.

With Red Bull's growing success, he has significantly expanded his investment in sports. Red Bull now operates football clubs, hockey teams and Formula 1 racing teams, and has contracts with hundreds of athletes in various sports.

Mateschitz and Thai investor Chaleo Yoovidhya founded the company in 1984 after how Mateschitz recognized the potential in marketing Krating Daeng – another energy drink created by Chaleo – to Western audiences. Red Bull claims Mateschitz worked on the formula for three years before the modified drink was launched under a new name in Austria in 1987.

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