Billionaire Red Bull heir receives huge sum after inheriting drinks company

Editor
Mark Mateschitz

Mark Mateschitz inherited his father's shares last year.

The heir to Red Bull co-founder Dietrich Mateschitz’s empire has received his first dividend payment after his father’s passing.

Dietrich Mateschitz passed away in October 2022 at the age of 78 and his controlling shares of Red Bull GmBH passed onto his son Mark.

A year on, Mark has received his first dividend payment which was valued at $615 million according to reports.

Red Bull dividend payment lowest in three years

Although $615 million is a substantial figure, Bloomberg reports it is the lowest dividend payment to be paid to the Red Bull owner for three years. A few months before he passed, Dietrich Mateschitz received a record $865 million with Red Bull recording a profit of $1.6 billion in 2022.

Although Red Bull Racing is a key part of the company, it is not the most profitable with the bulk of their profit coming from sponsorship payments which earned Red Bull GmBH more than $1 billion last year. The racing team meanwhile recorded a profit of £2 million after tax.

With his 49% ownership, Mark Mateschitz was entitled to a $405 million payout which was then supplemented by an additional $210.4 million as per a company tradition.

After he inherited his father’s empire, Mateschitz became one of the youngest billionaires in the world with Forbes reporting that the 31-year-old is worth $34.4 billion, ranking him at number 35 in Forbes’ real-time billionaires list.

Red Bull sold 11.6 billion cans of their energy drink last year and have plenty of sporting ventures alongside their F1 exploits including football, motocross, skateboarding and snowboarding.

Up until his father’s death, Mateschitz had worked as head of organics at Red Bull but stepped down to focus on his role as a shareholder.

PlanetF1.com recommends

Revealed: The F1 2023 World Championship standings without Red Bull

F1 records: The drivers with the longest points-scoring streaks in history

Dietrich Mateschitz’s ‘no risk, no fun’ mantra

While Dietrich Mateschitz was a very private figure, his presence was felt up and down the paddock with seven of the current grid having driven for one of the Red Bull owned teams at some point.

Two of Mateschitz’s most favourite allies were Christian Horner and Helmut Marko and the former described the work environment his boss sought to create.

“Dietrich used to tell us ‘no risk, no fun’,” Horner said at the Mexican GP. “We went into the race thinking the compounds were all a step softer. We felt that it was on the limit last year.

“We took two sets of hard tyres into the race so let’s go for a two-stop, and see if it works.

“It meant that we’d lose track position but we felt that we had the pace to come back and win it on a two-stop.”

Read next: The ultimate deciding factor that will determine Aston Martin’s success