F1 News: Red Bull Founder Dietrich Mateschitz Has Died Aged 78

The energy drink giant has passed away

The co-founder and owner of Red Bull, Dietrich Mateschitz, has died aged 78 after suffering from a long-term illness. But while it's very sad to hear about the passing of the Austrian business giant, he leaves behind fond memories in friends and colleagues who are more than complimentary.

Mateschitz is well-known for being behind the energy drink giant Red Bull. Starting in the '80s, the company quickly started dominating the market as it began sponsoring sporting teams across the globe. From motorsport to flying, the red logo of the bulls can be seen in almost every niche. 

In 2004, the company bought the Jaguar F1 racing team, and has now become of the most powerful teams on the grid with the company also owning Toro Rosso, later rebranded to AlphaTauri. 

It's also heavily involved in football, with Mateschitz being a key part of partnering and creating the German team RB Leipzig, the Austrian team Red Bull Salzburg, and MLS franchise the New York Red Bulls as well as the Brazilian team Red Bull Bragantino. That's just a few of the many teams the business is involved in. 

The news broke during the F1 where F1 pundit and former F1 driver Martin Brundle was assured by Red Bull's comm's chief that the reason behind the sad faces within the team wasn't due to cost cap news. It was later confirmed that Mateschitz had indeed passed away.