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Mark Mateschitz Net Worth 2023

Mark Mateschitz Net Worth 2023

Mark Mateschitz Net Worth 2023

What is Mark Mateschitz's Net Worth?

Mark Mateschitz, an Austrian billionaire, with a $20 billion total net worth. The energy drink business Red Bull, which Mark Mateschitz's father Dietrich Mateschitz co-founded in 1984, is where he made his money. He became the wealthiest Millennial in Europe after his father passed away in late 2022, leaving him a 49% ownership interest in the business. In addition, Mateschitz leads the management firm Mark Mateschitz Beteiligungs and serves as CEO of the beverage manufacturer Thalheimer Heilwasser.

Early Life and Education:

Anita Gerhardter and millionaire industrialist Dietrich, who co-founded the energy drink corporation Red Bull with Chaleo Yoovidhya in 1984, were the parents of Mark Mateschitz, who was born in May 1992. Throughout his youth and adolescence, he maintained a low profile and went by his mother's last name. He began using his father's last name after receiving a business administration degree from Salzburg University of Applied Sciences, demonstrating his ties to the Red Bull corporation.

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Red Bull History:

When Dietrich Mateschitz was traveling in Thailand in the early 1980s, Red Bull's beginnings may be found there. He requested a drink at the hotel bar to help him fight jet lag, and was given a glass of Krating Daeng (also known as "red water buffalo"), a local brew that truck drivers use to remain awake while driving. Mateschitz gulped down the beverage and felt really happy. He got the idea for a company from this. Mateschitz left the hygiene products firm Blendax in 1984 after obtaining a permit to manufacture the beverage there and co-founded Red Bull with Thai businessman Chaleo Yoovidhya. In 1987, the firm released its first cans to the public in Europe, and young, stressed-out urban workers in search of a pick-me-up found them to be incredibly popular. Red Bull made its US market debut ten years later with a bang.

Executive Positions:

At Red Bull, Mateschitz has held a number of executive posts. As well as leading his own management firm, Mark Mateschitz Beteiligungs, he serves as the CEO of the beverage manufacturer Thalheimer Heilwasser. A portion of Taurea, which manages a variety of Red Bull properties, is owned by his management business.

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Red Bull Succession:

Mateschitz's father fell dead from cancer in October of 2022. Despite the fact that his sickness had been known for some time, nobody at Red Bull had made a final decision on the company's leadership. The option to choose a successor was not up to Mateschitz because the Yoovidhya family was the company's largest shareholder, which exacerbated succession issues. This was due to the fact that when Red Bull was created, 51% of the stock went to Dietrich Mateschitz, 49% to Chaleo Yoovidhya, and 2% to Yoovidhya's firstborn son, Chalerm. After Chaleo died in 2012, his son Chalerm gained control of 51% of Red Bull, giving him the ability to make executive decisions.

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While Mateschitz continues to own a 49% share in Red Bull, the Yoovidhya family has been dealing with significant ambiguity around the company's eventual succession. Since 2012, Interpol has been searching for the family's chosen successor, Vorayuth, who was involved in a drunken hit-and-run that resulted in the death of Sergeant Wichien Klanprasert. After the event, Vorayuth ran away, and his father later gave the Klanprasert family $100,000 as restitution. Due to his status as a refugee, Vorayuth's ability to take over Red Bull is extremely unlikely. 

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