This is how Mateschitz secured Red Bull's future in sport

Mateschitz secured future of Red Bull Racing

In August, Mateschitz had the purpose of his foundation expanded to secure activities in media and sports. This is according to documents in posession of OE24. This immediately answers questions that arose about the future of the brand, in which the family of co-founder Chaleo Yoovidhya has a majority stake.

Thanks to a special contractual clause, Mateschitz had great operational freedom despite his minority stake, meaning the Austrian could do more or less whatever he wanted with the brand. The Yoovidhya family had little to do with operational matters, but had veto power when it came to any mergers, sale or liquidation of the company.

'Mateschitz poured hundreds of millions into foundation'

With Mateschitz's death, that clause lapsed. Therefore, he took precautions shortly before his death and had the purpose of his Kunst und Kultur DM Privatstiftung foundation expanded, according to the foundation deed. Mateschitz also allegedly poured hundreds of millions into the foundation to secure activities in the media and sports sector, especially in Austria.

According to the deed, an appointment was made at notary Utz Rothlauer in St. Michael im Lungau (Salzburg) on 26 August 2022, partly to add 'sports' as the foundation's purpose. Another interesting detail is that the beneficiary of the foundation is not Mateschitz's son Mark, but rather the 'general public'.

The relevant part of the foundation deed reads as follows: "The purpose of the foundation is to promote: a. the democratic state through civic education, b. adult and popular education, c. local history and preservation, d. art and culture, e. environmental protection, f. international understanding and g. sport."