The Richest Millennial In Europe

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Mark Mateschitz is the son of the founder of the world renowned brand Red Bull, Dietrich ‘Didi’ Mateschitz. One of the founders of the world’s largest energy drink brands, Mateschitz, died of pancreatic cancer on October 22, 2022, at the age of 78. He co-founded Red bull in the 1980s and since then it has become a multi-billion empire and the leading energy drink brand in the industry.

Upon the co-founder’s death, Red Bull laid out a restructured board. His son, Mark Mateschitz will be taking over 49% of his father’s stake. The 30-year-old Mateschitz has recently announced that he will be stepping back from his senior executive role and focus more on being a shareholder.

Inheriting almost half of the Red Bull company makes Mark the richest millennial in Europe. The massive inheritance also includes the two Formula One racing teams. As for the rest of the shares, it belongs to the rich Thai family, Yoovidhya, who founded Red Bull with Dietrich Mateschitz. Their history can be traced back to the 80s, and now that the company is in the hands of their respective successors, let’s get to know them better.

Living His Life Out Of The Spotlight

Born in 1993, Mark is the only child of Dietrich Mateschitz. He had lived most of his life away from his charismatic father’s spotlight. The young heir studied at the University of Applied Sciences Salzburg. He was seen accompanying his father to previous Formula One Races. Due to his interest in racing, most people are expecting him to invest in racing teams and continue his father’s good tie with the industry.

At the age of 18, his father included Mark in the energy drink company. He worked for Red Bull as a senior executive, innovating energy drinks out of natural resources. Mark said in an interview that the project is close to his heart. However, after his father died, Mark announced that he will be stepping down from this position because he wants to concentrate his efforts on becoming a shareholder.

He wants a board of executives to run the company, compared to his father who was hands-on with the everyday minutia of Red Bull. Besides Red Bull, Mark is also a shareholder in an Austrian property business. He has launched his own beverage brand in 2018, producing lemonade and beer using Austria’s oldest springs.

Inheriting A Massive Empire

After inheriting his father’s stake on the company that pulls publicity stunts often, Mark Mateschitz's net worth is now $15.7 billion, making him the richest millennial European. The inheritance allegedly includes other assets including the Austria castles and villas, a paradise island of Laucala in Fiji, and a whopping $56.4 million London Knightsbridge property.

First in Europe and fourth richest millennial in the entire world, coming after ByteDance’s founder, Zhang Yiming, Mark Zuckerberg who founded Meta, and the Walmart heir, Lukas Walton. Mark is also the richest person in Austria and ranks 94th richest person in the world all thanks to the multi-billion company that his father founded.

The Red Bull Heir

Since its foundation in the 1980s, Red Bull has risen to become a globally-recognized brand. The brand is often affiliated with the entertainment, gaming, sports, and racing industries. Last 2021, the company generated over $8 billion in revenue, selling up to 10 billion cans of their flagship energy drink.

With over 13,000 employees and branches in 172 countries, Mark’s bank balance will never see the end of it. Dietrich Mateschitz has bought luxury properties in the long run, which will now be inherited by his son, Mark. Just like his father who maintained a private life and was often photographed dressing casually, he had kept a low profile.

His mother, Anita Gerhardter, a ski instructor, is also an Austrian native. Mark grew up using his mother’s last name and had only recently used his father’s name. Gerdhardter is now the head of the “Wings of Life” foundation to which Mark joined management this year.

Mark has not made any public announcements about any possible marriage or kids. It was rare to see him in interviews. Mark had made several appearances at events, usually accompanying his father. It can be recalled that several years ago, Dietrich said that his son, Mark, will be joining the company that made billions from nothing when the time is right and if he wants to after several years of training.

Whether or not he’ll lead the Red Bull company can only be answered by the Yoovighya family. They still own the majority of the Red Bull shares. Industry experts are speculating that with Mark’s short years of experience, it is highly unlikely that he will lead the energy drink empire.

Until today, Mark Mateschitz hasn’t said a word about his future role in the company. Chaleo Yoovidhya’s first-born son, Chalerm Yoovidgya owns 51% of the shares, giving him executive power. The 72-year-old Chalerm has yet to give announcements on what the multi-billion Red Bull company’s future will look like after the death of its original founders.

Sources: Bloomberg, SCMP, Trend Detail