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Dietrich Mateschitz, the Austrian billionaire founder and proprietor of power drink firm Pink Bull, died on Saturday on the age 78 after a critical sickness with most cancers.
His dying was confirmed by the championship-leading Pink Bull System One workforce.
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The Styrian-born entrepreneur constructed a worldwide empire across the power drink Pink Bull and was thought of the richest man in Austria. Mateschitz’s fortune is estimated at round 25 billion euros ($24.65 billion). This places him in 51st place on Forbes’ checklist on the world’s richest individuals.
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The self-made billionaire was thought of a advertising and marketing genius. After graduating from the College of World Commerce in Vienna, he labored as a advertising and marketing specialist for numerous corporations within the Nineteen Seventies.
On his enterprise journeys to Asia, he acquired to know the market of power and stimulant drinks. At the moment, these drinks had been nonetheless utterly unknown in Europe and the US. In 1983, he acquired the license for such a drink in Asia. One 12 months later, along with the Thai entrepreneurial household Yoovidhya, he based Pink Bull GmbH, during which he held a 49% stake.
After modifying the recipe of a Thai power drink and creating a advertising and marketing idea, Pink Bull was launched to the market in 1987. The bubbly, carbonated, candy drink, whose style is described as just like that of gummy bears, rose to change into the worldwide market chief after a tough market entry. The group achieved a turnover of seven.8 billion euros in 2021 and offered 9.8 billion Pink Bull cans worldwide.
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The Fuschl am See, Salzburg-based firm can be identified for its inventive promoting with the world well-known slogan “Pink Bull offers you wings.” An necessary milestone for Mateschitz was the entry into the U.S. market on the finish of the Nineties. Immediately, each third can is offered in the US.
The entrepreneur paid a variety of consideration to the picture of the drink. He related the Pink Bull model with journey sports activities like browsing, mountain biking and cliff diving with the corporate finally concerned as a sponsor in a variety of them.
Mateschitz was additionally the founder and proprietor of Pink Bull Racing, a System 1 racing workforce primarily based in Milton Keynes, Britain. He had taken over the soccer membership SV Austria Salzburg, now often called “Pink Bull Salzburg.”
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Little is understood about Mateschitz’s personal life. He was publicity shy and barely gave interviews. He lived in Salzburg along with his long-term girlfriend and as soon as stated years in the past that he drank 10 to 12 cans of Pink Bull a day himself.
It’s not clear what penalties the Pink Bull empire will face after his dying. His solely son Mark, 30, who most lately acted as managing director of certainly one of his father’s funding corporations is seen as a potential successor. ($1 = 1.0142 euros) (Reporting by Akanksha Khushi in Bengaluru, Alexandra Schwarz-Goerlich in Vienna, and Michael Shields; Enhancing by Daniel Wallis and Marguerita Choy)
