Dietrich Mateschitz, a co-owner of Red Bull, passed away at the age of 78. The Austrian billionaire had been battling a long-term illness and was crucial to Red Bull’s participation in Formula One.
Before qualifying for Sunday’s United States Grand Prix at the Circuit of Americas in Austin, his death was informed to the Red Bull personnel.
In 1984, Mateschitz began the manufacturing of energy drinks. Twenty years later, he purchased the Jaguar F1 team and changed its identity to Red Bull Racing for the following season.
Sebastian Vettel won the inaugural Formula One championship for Red Bull in 2010 and went on to win four more in a row. At the Japanese Grand Prix earlier this month, Red Bull driver Max Verstappen won his second consecutive title. This weekend, the team will conclude this season’s constructors’ championship.
“It is with great sadness that we learned of Dietrich’s death,” said Red Bull team principal ,Christian Horner. “He was an incredible man and he loved Formula One. We owe him a great deal as a team, and what he would want more than anything is to see his two cars go out in qualifying today. My thoughts are with his family.”