AUSTIN, Texas — Austrian billionaire Dietrich Mateschitz, the co-founder of vitality drink firm Crimson Bull and founder and proprietor of the Crimson Bull Components One racing workforce, has died. He was 78.

Officers with the Crimson Bull racing workforce at the USA Grand Prix in Austin, Texas, mentioned Saturday that Mateschitz had died.

There was no instant phrase the place he died, or a reason for demise.

Crimson Bull workforce principal Christian Horner paid tribute to Mateschitz shortly earlier than its drivers Max Verstappen and Sergio Perez obtained of their automobiles for qualifying on the U.S. race.

“He’s the explanation that we’re right here. It was his ardour for Components One and his imaginative and prescient. He was at all times enthusiastic, encouraging and supportive on the nice days and the unhealthy days,” Horner mentioned. “I really feel privileged to have identified him. For the entire workforce now, regardless of the shock, we’ll do precisely what he would have wished, which is to go there together with his automobiles and do the perfect that we are able to, and attempt to shut this constructor’s championship (title) down.”

Crimson Bull driver Verstappen has already secured the drivers’ title for a second straight season.

Mohammed Ben Sulayem, president of motor sports activities governing physique FIA, mentioned Mateschitz was “a towering determine in motor sport.”

“The ideas of all of the FIA household are together with his family members presently and he can be enormously missed.”

Mateschitz gained fame as the general public face of Crimson Bull, an Austrian-Thai conglomerate that claims it offered practically 10 billion cans of its caffeine and taurine-based drink in 172 international locations worldwide final 12 months.

Mateschitz not solely helped the vitality drink turn out to be well-liked all over the world, but in addition constructed up a sports activities, media, actual property and gastronomy empire across the model.

With the rising success of Crimson Bull, he considerably expanded his investments in sports activities. Crimson Bull now operates soccer golf equipment, ice hockey groups and F1 racing groups, and has contracts with a whole bunch of athletes in numerous sports activities.

Mateschitz and Thai investor Chaleo Yoovidhya based the corporate in 1984 after Mateschitz acknowledged the potential in advertising Krating Daeng – one other vitality drink created by Chaleo – for a western viewers. Crimson Bull says Mateschitz labored on the components for 3 years earlier than the modified drink was launched below its new title in his native Austria in 1987.

Beneath Mateschitz’ stewardship, Crimson Bull shortly elevated its market share, first in Europe, then in the USA, helped by advertising campaigns selling the drink’s claimed stimulating properties and in depth sponsorship agreements in motorsports, soccer, excessive sports activities and the music business.

The Crimson Bull Racing workforce has loved success in Components 1, successful the constructors’ championship in 2010, 2011, 2012 and 2013, whereas German driver Sebastian Vettel received 4 drivers’ championships in row whereas signed to the workforce.

Crimson Bull operates soccer groups in prime divisions throughout Austria, Germany, Brazil and the USA. The corporate began by shopping for Austrian membership SV Austria Salzburg in 2005 and rebranding it within the firm colours below the title Crimson Bull Salzburg.

It repeated the transfer in Germany, the place it purchased fifth-tier membership SSV Markranstdt in 2009, rebranded it as RasenBallsport Leipzig, and financed its regular progress by the league system until it was promoted to the Bundesliga in 2016. German league laws prevented the corporate from naming the workforce Crimson Bull Leipzig – its title in German, RasenBallsport, means “grass ball sport Leipzig” however the membership simply refers to itself as RB Leipzig.

Mateschitz additionally made headlines for his populist views. He beforehand criticized German chancellor Angela Merkel for her dealing with of the refugee disaster over 2015-16. The Austrian Servus TV station, owned by Crimson Bull Media Home GmbH, is thought for selling right-wing provocative views.

Mateschitz purchased the Jaguar Racing workforce from earlier proprietor Ford on the finish of 2004 and rebranded it as Crimson Bull for the 2005 season. Later that 12 months, he then additionally purchased Minardi and renamed it Toro Rosso, astutely utilizing the workforce as a feed workforce for Crimson Bull.

“It is necessary that we acknowledge the whole lot that he is contributed to the game,” Horner mentioned. “Not simply this sport, however it goes means, means past that.”