Mark Mateschitz, one of the world’s youngest billionaires and the heir to Red Bull, received a $615 million shareholder payout from the company this month, according to Bloomberg, his first payment since inheriting the Austrian energy drink giant from his late father, Dietrich Mateschitz, last year.
Red Bull allocated half of last year’s $1.6 billion profit among shareholders and paid Mateschitz, who owns 49% of the company, a total of $615 million, Bloomberg reported, citing documents posted on Austria’s corporate registry.
Mateschitz’s share of the company made him eligible for a $405 million payout that was supplemented by an additional $210.4 million, which was given as part of a company tradition of providing its Austrian owner with an extra payment, according to Bloomberg.
The dividend is the lowest it’s been in three years and follows a record $865 million given to Dietrich last year before he passed away, Bloomberg reported.
Most of Red Bull’s 2022 profit—the source of the shareholder payments—came from sponsorship payments, which raked in more than $1 billion for the company last year.
We estimate Mateschitz’s net worth at $34.4 billion, ranking him at No. 35 in Forbes’ real-time billionaires list. Mateschitz, 31, is also one of the world’s youngest billionaires and became Europe’s wealthiest millennial after he inherited his father’s 49% Red Bull stake last year.
11.6 billion. That’s how many cans of Red Bull were sold last year. The company reported $10.53 billion in revenue.
Mateschitz’s father died last year at the age of 78. He co-founded Red Bull in 1987, building the energy drink firm’s presence as a juggernaut sponsor in soccer, Formula 1 racing and extreme sports like motocross, skateboarding and snowboarding. Mateschitz founded the company alongside late Thai businessman Chaleo Yoovidhya, who died in 2012 and was succeeded by his son, Chalerm. Following Dietrich’s passing, Mark stepped down from his position as head of organics at Red Bull to focus on his role as a shareholder.