(CEOWorld Magazine) - One year after the passing of its co-founder Dietrich Mateschitz, Red Bull is still providing its owners, heirs, employees, and consumers with the ‘wings’ it is so famous for. Mark Mateschitz, the son of the late Dietrich Mateschitz, was granted an impressive dividend of 615 million dollars.
The energy-beverage corporation gave out 50 percent of its €1.56 billion in earnings from the preceding year to its shareholders, with Dietrich Mateschitz, who owns 49 percent of the firm, receiving a total of $615 million.
Mateschitz was eligible for a €383 million payout supplemented by an extra €199 million, showing the company’s promise to provide their Austrian proprietor with further remuneration.
The Yoovidhya family in Thailand owns the remaining 51 percent of the business. An additional €3.17 million was given to Chalerm Yoovidhya as compensation.
Mark Mateschitz, who at 31 years old is one of the world’s youngest billionaires, had a net worth of $34.1 billion. This was made possible when he inherited from his father, Dietrich, a 49 percent stake in the company that his father had started. This made him the richest millennial in Europe.
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.
By Prof. Dr. Amarendra Bhushan Dhiraj | Banking and Finance
