Red Bull F1 owner Dietrich Mateschitz passes away

Red Bull F1 owner Dietrich Mateschitz passes away: Austrian billionaire Dietrich Mateschitz, the co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, has died. He was 78.

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He was also a co-founder of energy drink company Red Bull. He was co-founder of the Wings for Life foundation that supports spinal cord research together with Heinz Kinigadner. He has also initiated the World Stunt Awards, an annual fundraiser to benefit his Taurus Foundation. He founded Red Bull GmbH in 1984 and launched it in Austria in 1987.