Officials with the Red Bull racing team at the United States Grand Prix in Austin, Texas, announced Mateschitz's death Saturday.
AUSTIN, Texas — Austrian billionaire Dietrich Mateschitz, the co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, has died. He was 78.Mohammed Ben Sulayem, president of motor sports governing body FIA, said Mateschitz was “a towering figure in motor sport.”
Mateschitz not only helped the energy drink become popular around the world, but also built up a sports, media, real estate and gastronomy empire around the brand. Verstappen on Sunday at Circuit of the Americas will try to tie Michael Schumacher and Sebastian Vettel with an F1-record 13 victories in a season, and he'll also attempt to clinch the constructors championship for Red Bull.
Under Mateschitz’ stewardship, Red Bull quickly increased its market share, first in Europe, then in the United States, helped by marketing campaigns promoting the drink’s claimed stimulating properties and extensive sponsorship agreements in motorsports, soccer, extreme sports and the music industry.
“So many of us have to be so grateful to him for the opportunities he’s provided and the vision he had, the strength of character, and never being afraid to follow dreams, and chase dreams. That’s what he did here in F1, proving that you can make a difference," Red Bull team principal Christian Horner told Sky Sports F1.
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