Born in 1944 in Styria, Austria, to elementary school teachers, Mateschitz became independent early in life after his parents separated. He spent 10 years earning a business degree from the Vienna University of Economics and Business, prioritizing life experiences over a quick graduation.

During this decade, he supported himself through various jobs, including ski instructor.

After graduating at 28, Mateschitz joined multinational companies like Unilever and Jacobs. His first role was marketing detergent at Unilever, later becoming international marketing director for the German toothpaste brand Blendax.

Dietrich Mateschitz. Photo: Forbes

Dietrich Mateschitz. Photo: Forbes

After nearly 12 years, Mateschitz grew weary of the corporate routine. “I finally asked myself if I wanted to live another decade exactly like the last one," he said, reflecting on the monotony of travel and business.

During a 1982 business trip to Thailand, he discovered Krating Daeng, a local energy drink used by truck drivers to combat fatigue. Recognizing its potential to address the growing issue of fatigue in the West, 40-year-old Mateschitz quit his job to embark on his entrepreneurial journey.

In 1984, he returned to Thailand and partnered with Chaleo Yoovidhya, the inventor of Krating Daeng, investing 500,000 USD each to establish Red Bull. They each held a 49% stake, with the remaining 2% going to Yoovidhya's son.

Initially, Red Bull faced rejection in Austria due to its sweet taste, unfamiliar ingredients, and unusual packaging. Market research was negative, with criticisms of the name, taste, and branding.

During the first two years, Red Bull lost over one million USD. Lacking an advertising budget, Mateschitz relied on loans and personal connections to keep the company afloat.

Instead of simply selling a drink, Mateschitz chose to sell a lifestyle, targeting youth, students, partygoers, and the extreme sports community.

With the help of Johannes Kastner, a friend from the advertising industry, the two-bull logo and the slogan "Red Bull Gives You Wings" were born. This became a statement of freedom, bold action, and pushing boundaries.

While awaiting Austrian approval, Mateschitz launched Red Bull in Hungary, Germany, and the UK. The product was reformulated with carbonation, packaged in slimmer silver-blue cans, and positioned as a premium energy drink for an active lifestyle, creating a new market segment.

Red Bull began sponsoring extreme sports events, organizing Flugtag (flight day) competitions, and supporting hundreds of extreme athletes globally. Each event became a branding opportunity, bypassing traditional advertising.

The culmination of this strategy was Felix Baumgartner's record-breaking Red Bull Stratos jump from the edge of space, a daring and inspiring feat that captivated millions worldwide.

Red Bull Stratos involved Felix Baumgartner free-falling from 39,000 meters, breaking the sound barrier with his body.

Red Bull owner Dietrich Mateschitz (right) congratulates German Red Bull Formula One driver Sebastian Vettel on winning the championship and the Abu Dhabi Grand Prix at the Yas Marina Circuit, 14/11/2010. Photo: REUTERS

Red Bull owner Dietrich Mateschitz (right) congratulates German Red Bull Formula One driver Sebastian Vettel on winning the championship and the Abu Dhabi Grand Prix at the Yas Marina Circuit, 14/11/2010. Photo: REUTERS

Red Bull evolved into a media company with Red Bull Media House, producing videos, magazines, and sports and music content embodying the "gives you wings" spirit.

In 2012, Forbes estimated Mateschitz's net worth at 5.3 billion USD.

By the time he died of cancer in 2022 at 78, Red Bull sold over 9.8 billion cans annually in over 170 countries. He owned the Red Bull Racing Formula 1 team, football clubs in the US and Europe, and a collection of vintage aircraft.

Despite his success, Mateschitz remained private, residing in Salzburg with his long-term girlfriend and rarely giving interviews. "When we first started, there was no market for Red Bull," he once said. "But Red Bull will create the market."

Mateschitz's journey exemplifies Steve Jobs's quote: "Half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance." He started late, lacked substantial financial backing, and entered an unfamiliar industry. Yet, with vision, and unwavering determination, he transformed an unusual drink into a global symbol of energy, boldness, and pushing limits.

Nhat Minh (According to Forbes/c-suitenetwork/enterpriseviewpoint/reuters)