Europe’s richest millennial is $615m richer after first payout from his family’s Red Bull fortune
Red Bull’s owner is Europe’s richest millennial and just got $615 million richer.
Transcript
00:00 Red Bull's owner is the richest millennial in Europe, and he just got $615 million richer.
00:05 Mark Matyszczyk received a $615 million dividend as his first payment since inheriting the
00:09 energy drink empire from his late father, Dietrich, last year.
00:12 Dietrich co-founded the Red Bull empire in the 1980s, and his son inherited his entire
00:17 stake.
00:18 Mark's payout is the lowest dividend in three years, since Red Bull's profits were
00:21 not as strong last year due to higher marketing and production costs, which canceled out a
00:24 24% surge in revenue.
00:26 But Red Bull still distributed half of last year's $1.6 billion profit with its shareholders.
00:31 Matyszczyk owns 49% of Red Bull through his holding company, which made him eligible to
00:35 receive a $405 million payout.
00:37 And he also got an additional $210.4 million as part of the company's tradition to make
00:42 an extra payment to the owner.
00:44 Most of Red Bull's 2022 profit came from sponsorships, and they sold more than 11 billion
00:48 cans of its caffeinated beverage.