Red Bull Co-founder Dietrich Mateschitz has passed away at the age of 78. Mateschitz and Thai businessman Chaleo Yoovidhya founded Red Bull in 1984 and launched the Red Bull brand in 1987. Mateschitz owned 49% of the energy drinks brand. The Austrian billionaire bought the Jaguar Formula One team at 2004-end and rebranded it as Red Bull team.