Visionary Red Bull co-founder Dietrich Mateschitz has sadly passed away.

The 78 year-old died earlier today (October 22) after a long battle with cancer.

Mateschitz was an incredible entrepreneur who capitalised on the Indonesian energy drink Krating Daeng after his travels as a toothpaste salesman took him to the Asian nation.

His marketing genius led to the growth of the energy drinks market in which Red Bull is the largest brand despite not producing the drink themselves. 

Over the years, Mateschitz used his great fortune to set up other business activities within the Red Bull brand that aligned with his interests, most notably with the formation of Red Bull Racing in 2005, a continuation of Red Bull’s long-held association with motorsport that started with the sponsorship of Gerhard Berger.

Red Bull Racing team principal Christian Horner said, “It’s very, very sad, what a great man.

“What he achieved and what he has done for so many people, around the world in different sports, is second to none.”

The Austrian business and motorsport community will dearly miss Dietrich Mateschitz.