Red Bull Formula One owner Dietrich Mateschitz dies at 78

Austrian billionaire Dietrich Mateschitz, the co-founder of the energy drink firm Red Bull and founder and owner of the Red Bull Formula One racing team, has passed away. He was 78.

Officials from Red Bull Racing Team Red Bull racing team at the United States Grand Prix in Austin, Texas, announced Mateschitz's death on Saturday. There was no information on as to where the race took place or what caused his death.

Mohammed Ben Sulayem, president of the motor sport's the governing body FIA Mohammed Ben Sulayem, president of the motor sports governing body FIA Mateschitz was "a impressive model in motor sports." The thoughts of the entire FIA family members are with his loved ones during this moment and he will be deeply missed,statement by best online sportsbook for soccer.

Mateschitz became famous for being the public image for Red Bull, an Austrian-Thai company that claims to have sold over 10-billion cans taurine and caffeine-based drink across 172 countries in the year 2000. Mateschitz did not just help the drink to become popular all over the world however, it also helped build media, sports and real estate empire around the name.

Due to the increasing success in the world of Red Bull, he significantly increased his investment in the field of sports, particularly the motorsports industry and sports with extreme elements as well. Red Bull now operates football clubs team, ice hockey teams, as well as F1 race teams. Red Bull also has contracts with hundreds of athletes across diverse sports, as well as a thorough driver training program that helps to bring racers up to the top of the line.

It's been a difficult time for everybody and what he's done to Red Bull, and of course, the sport, but particularly for myself, said Max Verstappen who took home two consecutive F1 victory two weeks ago. Verstappen in Sunday's race at Circuit of the Americas will attempt to equal Michael Schumacher and Sebastian Vettel with an F1 record of 13 wins in a single season. Verstappen will also try to win the constructors title in the name of Red Bull.

What he's done for meand my work thus far, and overall my life, it's hard, it's really a hard moment, Verstappen said. There's still a lot to be done and we'll try to do our best to impress him in the coming days.

Mateschitz along with Thai investors Chaleo Yoovidhya established this company back in 1984 when Mateschitz saw the potential in marketing Krating Daeng - a different energy drink developed by Chaleo for Western consumers. Red Bull says Mateschitz worked on the formula for three years prior to when the drink was released under the red bull brand name, which was later adopted by his home country of Austria in 1987.

Under Mateschitz Under his leadership, Red Bull quickly increased its market share first in Europe and later in America. United States, helped by marketing campaigns that promoted the drink's supposed stimulant properties and numerous partnerships with motorsports teams as well as extreme sports, soccer, and the music business.

Red Bull Racing team has enjoyed success in Formula 1. Red Bull Racing team has been successful on the track in Formula 1, winning the constructors' title in 2010, 2011, and 2013. German driver Vettel was the winner of four championships for drivers in a succession while he was signed to the team.

Verstappen joined the driver development program of Red Bull He became the youngest racer in F1 history to compete in an F1 race when he joined Toro Rosso's young Toro Rosso team at age 17 in the year 2015. The Dutchman is currently the most powerful driver in F1.

So all of us need been so thankful to the opportunity that he has given us as well as the perspective he displayed and the courage and the courage to dream big, and chase them. That's exactly what he did in F1 and proved that you can be a changemaker, Red Bull team director Christian Horner told Sky Sports F1.

We're simply incredibly thankful for him, all that has been accomplished, all the things that has helped us throughout the many years, Horner added. So many drivers and team members, and so many people in the pit road owe him so much. He was so satisfied with the team, extremely happy with what we've achieved and accomplished and has been a fervent partner and the foundation of our work.

Red Bull operates soccer teams in the top divisions of Austria, Germany, Brazil and Brazil and the United States. The company was founded by purchasing Austrian soccer club SV Austria Salzburg in 2005 and rebranding it with the colours of the company with the brand name Red Bull Salzburg.

The same thing happened in Germany and in the United Kingdom, where it bought the fifth-tier club SSV Markranstadt in 2009, changed its name to RasenBallsport Leipzig, and financed its steady growth through the league system until it was elevated to the Bundesliga in the year 2016. German league regulations prohibited the organization from naming the club Red Bull Leipzig - its name in German, RasenBallsport, means "grass ball sport Leipzig" however the team is simply referred to by the name RB Leipzig.

Mateschitz was also the subject of headlines due to his popular views. He had previously criticized German Chancellor Angela Merkel for her handling of the refugee crisis during the period of 2015-16. It is the Austrian Servus TV station, operated by Red Bull Media House GmbH is well-known for its radical right-wing views.

Mateschitz purchased his Jaguar Racing team from previous owner Ford at the end of 2004 and changed it's name to Red Bull for the 2005 season. In the following year, he purchased Minardi and rebranded it Toro Rosso, astutely using Minardi as a feeder team to Red Bull.