Dietrich Mateschitz, the co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, passed away at the age of 78, said officials with the Red Bull racing team at the United States Grand Prix in Austin, Texas.
However, the cause of his death and the place of his death is yet to be known. The President of Motor sports body FIA, said Mateschitz was “a towering figure in motor sport.”
“The thoughts of all the FIA family are with his loved ones at this time and he will be greatly missed,” he also added.
According to reports, Mateschitz was battling a long-term illness.
The Austrian billionaire gained become popular as the public face of Red Bull. The company reportedly sold nearly 10 billion cans of its caffeine and taurine-based drink in 172 countries worldwide last year.
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.
After the success of the Red Bull, he ventured into sports and invested in it. The energy drink company now operates football clubs, ice hockey teams and F1 racing teams, and has contracts with hundreds of athletes in various sports.
He founded Red Bull company in 1984. He bought the F1 team 20 years later and remaned it as Red Bull Racing.
Ms Kalinga