Red Bull future ‘set’ despite Mateschitz death

Thu, 27 October 2022, 08:00

Oct.27 (GMM) Red Bull’s future in Formula 1 is “set” despite the death last weekend of the energy drink company’s founder Dietrich Mateschitz.

Under the reclusive 78-year-old Austrian billionaire’s tutelage, Red Bull owns two Formula 1 teams, promotes the Austrian GP and has the Austrian TV rights via Servus TV.

Red Bull also rejected Porsche’s desire for a 50 percent buyout deal and works collaboration for 2026, choosing instead to go it alone with its own ‘Red Bull Powertrains’ subsidiary.

But with Mateschitz having died at home after an 18 month battle with pancreatic cancer, it is now unclear what will happen with his billion-dollar empire.

Austrian media report that his $25 billion empire is likely to go to three heirs – his partner Marion, his former partner Anita, and his and Anita’s 29-year-old son Mark.

Blick newspaper says little is known about Mark Mateschitz except that he runs the Dietrich Mateschitz-owned Thalheimer beer brand.

Mark is also said to be close to Red Bull’s Thai side of the business, with the energy drink company 51 percent owned by original Red Bull founder Chalerm Yoovidhya.

Many believe Dietrich Mateschitz, although the 49 percent owner, had a ‘special status’ in charge of the company – but with his death, the 51pc control by Yoovidhya may now be critical.

Existing long-time Red Bull executives Rudolf Theierl and Roland Concin, both in their early 70s, are tipped to become the interim chiefs until a more permanent succession is decided.

The new chief will not be Yoovidhya’s 40-year-old son Vorayuth, as he has a notably troubled criminal history.

As for Red Bull’s premier F1 team, new world champions Red Bull Racing, team boss Christian Horner insists “the future is set” despite Mateschitz’s death.

“He’s put in place a very strong foundation for the future,” he said.

“With becoming a power unit manufacturer in 2026, that was the missing piece of our jigsaw, and he had the vision to enable that to happen.

“He set that vision, and he was involved right until last week,” Horner insisted. “He had the vision for and endorsed the plan for Red Bull Powertrains, to set the team up for the future, for the long term.”

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