[imagesource: Wings For Life]

Red Bull has given 30-year-old Mark Mateschitz major financial wings after he inherited a 49% stake in the company.

Now, besides being bolstered as a shareholder of the largest energy drinks brand in the world, he is also Europe’s richest millennial (people born between 1981 and 1996), per Bloomberg.

The trust fund kid’s father, Dietrich Mateschitz, co-founded Red Bull in 1984 alongside Thai businessman Chaleo Yoovidhya.

They built the company up to become the superpower it is today and became billionaires in the process.

Three weeks ago at the age of 78, Dietrich passed away, leaving half of the Red Bull empire to his son along with two Formula One racing teams.

This has made Mark Mateschitz soar to new heights and he’s now worth $15,7 billion according to the Bloomberg Billionaires Index:

Image: @KronenZeitung

DMARGE reports that his wealth status doesn’t end there:

His inheritance also leaves him as the fourth richest millennial in the entire world, behind founder of TikTok’s parent company ByteDance Zhang Yiming, Meta founder Mark Zuckerberg and heir to Walmart Lukas Walton.

As of November 14th, he is also the 94th richest person in the world and Austria’s richest person.

There has been a bit of a shake-up at Red Bull, though.

Mark announced he would be stepping down from his role – in charge of Red Bull’s organic division, which looked at drinks made from natural resources – in a decision that “did not come easy” as the project was “close to [his] heart”:

Speaking of the shake up, he said, “I do not believe one should be both an employee and a shareholder of the same company.”

He continued, “I will concentrate on my role as a shareholder, and I will interpret this and express myself in a way that makes sense to me and as I find necessary.”

The University of Applied Sciences Salzburg business graduate was also a shareholder in an Austrian property business and launched his own beverage business that makes beer and lemonade from one of Austria’s oldest springs.

Image: @IMAGO

Hopefully, Red Bull can continue to flourish as an F1 team, as it did under his father. The father and son were often seen at the races together and now Mark is a lead investor all on his own.

It is still unclear whether he will be inheriting other assets from his father.

That includes a Fiji island, castles and villas in Austria, and a £32 million property in London’s Knightsbridge.

Not that he needs them with wings like his.

[sources:bloomberg&dmarge]