Red Bull co-founder Dietrich Mateschitz is gone. Let’s take a look at how he changed the world of sport

Red Bull co-founder Dietrich Mateschitz left this world at the age of 78 after losing his battle with cancer. But he left behind a great story that has changed the lives of many athletes around the world. Let’s take a closer look at the Austrian businessman’s journey.

It all started in Thailand, where Dietrich Mateschitz traveled. But due to sleeping problems while on long business trips, he sought help and that’s when he was first introduced to Krating Daeng, a drink from the pharmaceutical retailer Chaleoa Yoovidhyay.

The Austrian businessman was so enthusiastic about the drink that he decided to bring it to the Western market, and so Red Bull was formed, in which he invested $500,000, with the other half invested by the aforementioned Yoovidhya.

It was 1984 and three years later the famous slogan “Red Bull gives you wings” was born and it gradually spread all over the world. After expanding to the USA in 1997, Red Bull was already selling one million cans a day.

One of the key factors in the success of this energy drink is that it costs Red Bull $0.09 to produce one can, while they can sell it for $1.87.

Due to the fact that Red Bull can actually give the body energy and “wake it up” for a few hours, which is often used by drivers, it was quickly taken up especially by students who soon realised its very good taste in combination with vodka.

One of the first marketing targets was therefore student halls of residence and parties. Many of you will recall the Wolswagen Beetle with a can of Red Bull on the back of the car, which used to drive around to all sorts of events.

But then Mateschitz moved into the world of sport, particularly extreme sport, which helped him spread across the internet and social media at lightning speed. For Red Bull, the impossible became a challenge, as the Stratos mission proved when Felix Baumgartner jumped from an altitude of 39 kilometres.

In 2019, Red Bull was able to sell 7.5 billion cans, which brought them a significant amount of revenue, with a third invested right back into marketing.

But of course, Red Bull isn’t just about selling energy drink, even though it makes up the vast majority of its revenue, at least for now. The company already owns several football clubs, with a particular focus on working with young talent. It also represents many athletes and teams, and media production is no small part of its success.

Source: YouTube, Athletic Interests, Wikipedia