With an estimated net worth of over $ 16 billion, Red Bull cofounder and CEO Dietrich Mateschitz is the wealthiest person in Austria.
After essentially creating the market for energy drinks with the invention of Red Bull in 1987, Mateschitz and cofounder Thai businessman Chaleo Yoovidhya came up with unique ways to promote the brand, like buying a Formula One racing team and partnering with Austrian skydiver Felix Baumgartner to do a 120,000-foot jump in 2012. According to Forbes, more than six billion cans of Red Bull were sold in 2016.
The reclusive 72-year-old is rarely seen in the spotlight, but in a candid interview with Austrian paper “Kleine Zeitung” last month, Mateschitz shared his opinion of President Trump and criticized the Austrian government for allowing an influx of refugees into the country. He defended the American president, saying, “I don’t think he’s as much of an idiot as he’s portrayed to be.”
Mateschitz also revealed his plan to launch a German-language news site called “Nä her an die Wahrheit,” which translates to “Closer to the Truth.” An article in the German newspaper Handelsblatt compared the venture to Breitbart.
Below, take a look at how Mateschitz has grown Red Bull into a leading international brand that stretches across platforms.
Mateschitz studied marketing at the University of Commerce in Vienna. He was in school for 10 years and graduated at 28. After school, Mateschitz served as the international marketing director for Blendax, where he worked on promoting toiletry products.
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Source: Forbes
It was while he was traveling in Thailand for his job at Blendax that Mateschitz was introduced to a syrupy tonic drink that, according to Forbes, helped cure his jet lag.
Kristian Dowling/Getty Images
Source: Forbes
Mateschitz met Chaleo Yoovidhya, a Thai man who owned his own tonic drink company. He convinced Yoovidhya to bring the drink to Europe, and Mateschitz quit his job. Each of the men invested $ 500,000 in the venture.
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