Mateschitz was born in Austria to a family of Croatian ancestry. His parents were both primary school teachers and separated when he was very young. Although never married, he reportedly has a son.
After taking ten years to graduate from the Hochschule für Welthandel with a marketing degree, Mateschitz’s first employer was Unilever, where he worked marketing detergents. He subsequently moved to Blendax, the German cosmetics company since bought by Procter & Gamble, where he worked, among other things, in the marketing of Blendax tooth paste. It was as part of his travels for Blendax that he discovered Krating Daeng, the drink that would later become Red Bull. In 1984, he founded Red Bull GmbH with his Thai partners Chaleo and Chalerm Yoovidhya with the launch in Austria in 1987.Subsequently, he turned the Red Bull drink into a world market leader among energy drinks.
It all began in 1982, when Mateschitz, then the marketing director of the German cosmetics company Blendax, was sitting at the bar of the Mandarin Hotel in Hong Kong. Musing on the popularity of “tonic drinks” in the Far East, the idea came to him of selling something similar in the West. He formed a partnership with a local colleague who was already producing a drink called “Krating Daeng”, or Thai water buffalo, and Red Bull was born. From the start, Mateschitz had an enormous amount of confidence both in his product and his ability to sell it to the world. “There exists no market for Red Bull,” he said at the time, “but we will create one.”
Red Bull launched in Austria in 1987 and the rest is history.
Dietrich Mateschitz has since became one of the richest men in the world with a net worth of more than $4billion.
The reality is he had been a billionaire ever since he came up with the energy drink idea but until he had formed the right partnerships, marketed/promoted Redbull and brought it to the marketplace it really had no value.
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