Red Bull Heir Mark Mateschitz further established himself as Europe’s richest millennial after receiving over $615 million in dividends this year.
The 30-year-old claimed his first dividend payment after inheriting a large portion of the energy drink empire from his father, who passed away last year.
Energy Drink Empire
Dietrich Mateschitz started Red Bull following a trip to Thailand in the 80’s. He tried a local drink called Karting Daeng, which gave him a much-needed boost. Mateschitz later convinced the creator to carbonate and market it to the West.
Mateschitz went on to build an empire around the drink. He owned 49% of Red Bull GmbH before his passing in 2022. After his death, Dietrich’s shares were passed on to his son, Mark, who became Europe’s richest millennial in the process.
Europes Richest Millenial
Mark Mateschitz now owns almost half of the Red Bull empire, which pays out over half of its profits to shareholders each year.
He collected around $615 million in his first year, meaning Europe’s wealthiest millennial just got a whole lot richer.
Lowest Payment in Years
While half a billion dollars is certainly an enormous payout, the dividend was the lowest paid to the Austrian family in three years.
A drop in dividends reflects a shutter in profitability last year, yet the company continues to see exponential growth.
Stalling Net Income
Red Bul increased both its production costs and marketing last year, which ultimately erased a 24% surge in revenue and stalled its net income.
Yet, the energy drink empire still distributed over half of its €1.56 billion profit among its shareholders.
The Yoovidhya Family
Mateschitz owns 49% of Red Bull via his holding company, which made him eligible for an enormous €383 million payday this past year.
The remaining 51% of the company is owned by the Yoovidhya family of Thailand, who currently reside in Fuschl, near Salzburg.
Age Old Tradition
Europe’s richest millennial would also reverence an additional payment of €199 million, bringing his payout for the year to €582 million ($615 million).
The additional payment is part of a years-long tradition of making an additional payment to the Austrian Mateschitz family. Charlerm Yoovidhya also received an additional payment of €3.17 million.
Mateschitz Makes Some Major Changes
After taking over the reins following the passing of his father, Mark has made some significant changes.
He appointed a new manager while also appointing Red Bull’s former head of Football, Oliver Mintzlaff, to the position of head of strategic initiatives.
Evolving Business Practices at Red Bull
Mark played a role in deciding that a single CEO will no longer execute strategic-operational plan responsibility with Red Bull.
Instead, he explained that the solution, first proposed by his father, would divide such responsibilities among three people.
One of The World’s Wealthiest Men
After Mark inherited his father’s shares, he is now the 88th richest person in the world.
He has a net worth of approximately $18 billion, according to the Bloomberg Billionaires Index, which makes him Europe’s wealthiest millennial.
Exorbitant Sponsoship Deals
For the first time in the company’s history, Red Bull paid over €1 billion in sponsorship payments last year.
According to financial reports, the energy drinks company sold over 11 billion fans of its caffeinated beverage, resulting in a net revenue of €9.68 billion.
Home Of Extreme Sports
Red Bull spends an excessive amount of its net turnover on marketing initiatives. The company is known as the home of extreme sports and events, and even has its own Formula 1 team.
It also sponsors top athletes around the world, including Brazilian footballer Neymar and Alpine ski racer Lindsey Vonn.
