Red Bull pays out more than half a billion euros to founders
Energy drinks maker Red Bull has raised a payout of more than half a billion euros to its owners following a surge in sales and profit.
The company, which is a major supporter of extreme sports and is known for its Formula One motor racing team, paid out €554m (£491m, $655m) to founder Dietrich Mateschitz and Thailand’s Yoovidhya family.
Thai entrepreneur Chaleo Yoovidhya, who invented the drink as a hangover cure, partnered with Mateschitz in 1987 to promote the brand overseas.
Austrian businessman Matescitz bought a 49% stake in the company at the time. The 76-year-old is now the richest person in Austria with a $15.9bn (£12bn) net worth, according to Bloomberg Billionaires Index.
Yoovidhya, who was born to Chinese immigrants in the northern Thai province of Phichit, became Thailand’s third-wealthiest person with an estimated $5bn fortune before he died in 2012, aged 88.
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The payout came as the company posted a 10% rise in net income last year to €818m on the back of a 8.6% growth in revenue. Payouts from subsidiaries also jumped higher according to a filing to the Austrian company register.
Red Bull, which is based in Fuschl, Austria, and whose subsidiaries around the world handle local marketing and distribution of the beverage, sold a record 7.5 billion cans of Red Bull last year according to its website. This was boosted by strong product demand in India, Africa and Brazil.
The energy drinks sector has popped in recent years with rivals such as Monster Beverage (MNST), Rockstar and Carabao (CBG.BK) bringing in fortunes for their owners and shareholders.
In the US in particular, the energy drink industry is one of the strongest performing outside the alcoholic space, with forecasts projected to more than double to $19.2bn (£14.5bn) in 2024, according to London-based market research firm Mintel.
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