Meet the richest millennial in Europe: the heir of Red Bull

Mark Mateschitz has been the managing director of Red Bull since his father died in 2022. It has made him the richest millennial in Europe.

At the end of his first year as the Red Bull boss, he received a dividend of 582 million euros. Although it sounds like a lot of money, for this guy it's barely anything.

Dietrich Mateschitz, the founder of Red Bull, came across an energy drink in Thailand in 1982. He acquired the license rights and began marketing the drink in Austria with his Thai partner from 1987 onwards. What followed, is an incredible success story.

In addition to the distribution of the energy drink, the Red Bull empire includes the production of music and television channels, the sponsorship of extreme sports, and, from 2004, its own Formula 1 team.

Red Bull has done quite well in Formula One. The German racer Sebastian Vettel won the world championship with Red Bull in 2010, 2011, 2012, and 2013. Then, in 2021, 2022, and 2023, the Dutch Max Verstappen became world champion.

Red Bull is the most successful energy drink in the world and the Red Bull brand made Dietrich Mateschitz the richest person in Austria.

In 2021, Dietrich Mateschitz was diagnosed with pancreatic cancer. He refused chemotherapy and succumbed to his illness on October 22, 2022.

Mark Mateschitz, in his early thirties, is the only child of Dietrich Mateschitz. He worked with his father in various business areas from an early age and knows the tricks of the trade.

After Dietrich Mateschitz's death, his son Mark Mateschitz inherited his father's shares and now holds 49 percent of the company.

According to the Bloomberg Billionaires Index, Mateschitz is the richest European millennial with a net worth of $18.1 billion.

Mystery surrounds the handsome young billionaire from Austria. In 2023, several Austrian media, as well as The Mirror, reported that the heiress of Swarovski, Victoria, had started dating Mark Mateschitz. However, the relationship has not been officially confirmed.

A year after his father's death, Mateschitz received his first dividend: 582 million euros. It's a large sum, but it's also the smallest dividend in the past three years.

According to Bloomberg, the reason for this decline is the fact that production and marketing have become more expensive for Red Bull recently.

1.56 billion euros, or half of the profit, went to the shareholders. From this amount, Mateschitz received 383 million euros, and the Thai partner family Yoovidhya also received a share.

The Yoovidhyas hold 51 percent of the shares. Although they have the majority of Red Bull, they have agreed to let Mark Mateschitz run the company.

In addition to the 383 million euros, Mark Mateschitz also received 199 million euros as an additional payment to the owner's Austrian family, Bloomberg reported.

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