Dietrich Mateschitz success story: How a Thai drink became Red Bull
Dietrich Mateschitz is an Austrian business magnate who co-founded canned energy drink brand Red Bull GmbH with his Thai partner Chaleo Yoovidhiya and owns a 49% stake in the company. Mateschitz’s net worth was estimated to be $25.4 billion as of October 2021. One of the 100 richest people, Dietrich Mateschitz owns several sports teams and a few media houses.
Dietrich enjoys a lavish lifestyle and has a £7 million investment in Laucala Island, Fiji. He recently spent $1.7 million on a submarine for his resort’s visitors. In addition to this, he has his own private airport and hangar and a pilot’s licence. In addition to the Flying Bulls, an exclusive collection of aircraft, he owns a racing team.
Name: Dietrich Mateschitz
Net Worth: USD 25.4 billion as on October 2021
Education: MBA in Marketing from Vienna University of Economics and Business Austria
Designations: Founder of Red Bull
Date of Birth: May 20, 1944
Birthplace: Sankt Marein im Mürztal, Austria
Marital Status: Never Married
Spouse’s Name: Marion Feichtner(Partner)
Children: 1 son
Hobbies: Fly his private planes, formula one fan
Dietrich Mateschitz was born to an Austro-Slovenian family in Sankt Marein im Mürztal, Styria, Austria on May 20, 1944. His parents are both natives of Styria. Although his father was born in Gross Gerau, Germany, the Maribor area of Lower Styria (today in Slovenia) is where his father’s extended family hails from. When he was a young child, his parents—who were both primary school teachers—separated. Mateschitz was raised by his mother.
Dietrich Mateschitz’s Career
Dietrich Mateschitz took 10 years to finally earn a marketing degree in 1972 from the Hochschule für Welthandel which is now Vienna University of Economics and Business.
The very first job which he did was at Unilever, where he marketed detergents. He then went to work for Blendax, a German cosmetics company now owned by P&G. Dietrich Mateschitz’s job entailed marketing the Blendax brand of toothpaste, which required him to travel frequently. On one such business trip to Thailand, he discovered Krating Daeng, a Thai Syrupy energy-boosting drink that cured his jet lag. Dietrich made the decision to create his own energy drink because he liked the taste of the drink.
In order to propose a partnership, he went to Chaleo Yoovidhya, the owner of the Thai Drink company. They agreed to split approximately 49% of the company’s shares equally, with the remaining 2% to go to Yoovidhya’s son. Thus, Dietrich Mateschitz launched his version of the canned energy drink, now widely known as “Red Bull.” In addition, there was no market for energy drinks in its early years. But Dietrich Mateschitz seized the chance to introduce a unique product.
In 1984, he co-founded Red Bull GmbH with Chaleo Yoovidhya, and the company debuted in Austria after 3 years in 1987. He then succeeded in making the Red Bull beverage the market leader for energy drinks globally. Along with Heinz Kinigadner, he co-founded the Wings for Life foundation, which promotes spinal cord research. The foundation started hosting the Wings for Life World Run in 2014 to raise money.
How Red Bull Started?
On one occasion, Dietrich drank a Thai syrupy beverage that gave him a boost of energy right away. In light of this, he made the decision to create his own beverage and joined forces with Chaleo Yoovidhya to carry it out. With each partner taking 49% of the total share, the company’s remaining 2% was distributed to Yoovidhya’s son. There was no market for energy drinks when Red Bull was founded, but Dietrich knew his product would create one. Many people dismissed it as a fad after it received positive reviews, but as more businesses began producing drinks like it, he gained confidence.
Different from other marketers, Dietrich Mateschitz puts a lot of money into developing his brand. The absurd but catchy slogan of Red Bull is “It gives you wings.” Even before Lipizzaner Horses, Red Bull was one of Austria’s very first internationally recognised brands. Red Bull originated in the East, but the majority of its growth comes from Japan and India.
Parents of Dietrich were primary school educators and split up when he was a young child. When he was a teenager, Dietrich Mateschitz ran away from his family. Even though Mateschitz has never been married, he has a son. Laucala Island in Fiji is owned by Dietrich Mateschitz, who resides in Fuschl Am See, Austria. that he had purchased from the Forbes family.
In 2013, Dietrich purchased a DeepFlight Super Falcon, a specially built extreme submarine. It was intended for a visitor to his Laucala Island resort. He owns a private jet airport and hangar and is a certified pilot. purely for his vintage aircraft collection, which includes the Falcon 900.
Piper Super Cub aircraft and the final “Douglas DC 6B” ever produced. The “Flying Bulls” are the name of his collection of vintage aircraft. In addition to the Douglas DC-6B, his collection also includes the Lockheed P-38 Lightning, the North American B-25J Mitchell, and other aircraft.