The Red Bull heir received a first dividend of US$615 million

The Red Bull heir received a first dividend of US$615 million

Mark Mateschitz, the heir of the company Red Bull, received a dividend of 582 million euros (US$615 million) as his first payment since taking office control of the energy drink empire from his late father last year.

The company, based in the Austrian town of Fuschl am See, distributed half of the 1,560 million euros in profits last year among its shareholdersaccording to a resolution published in the country’s commercial registry.

Mateschitz owns 49% through the parent company, which allows it to receive about 383 million euros. The Yoovidhya family in Thailand owns the remaining 51%.

The young heir also received 199 million additional euros following a years-long tradition of making an extra payment to the company’s Austrian owner.

The dividend is the lowest in three years, since the increase in marketing and production costs affected profitability in 2022. Mateschitz took over the company in 2022 following the death of his father, Dietrich, who founded the company.

Red Bull sponsorships exceeded for the first time 1 billion euros last year. The firm sold more than 11,000 million cans of its caffeinated drink, achieving net income of 9,680 million euros.

Red bull: the millionaire inheritance

Mark Mateschitz went from being the heir to a billionaire to become the owner of the transnational company Red Bull and two Formula 1 teams. This young Austrian of 30 years inherited the energy drink empire that his father, Dietrich Mateschitzfounded together with the Thai Chaleo Yoovidhya in 1984.

Mark Mateschitz, who studied Business Administration at the University of Applied Sciences in Salzburg, Austria, grew up accompanying his father in activities related to Red Bull and Formula 1 from an early age.

Additionally, he launched a beverage business in 2018 that brews beer and lemonade with water from one of Austria’s oldest springs. He also serves on the board of directors of a spinal cord research foundation created by his father and run by his mother, Anita Gerhardter.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts