Mark Mateschitz, one of the world’s youngest billionaires and the heir to Red Bull, received a $615 million shareholder payout from the company this month, according to Bloomberg, his first payment since inheriting the Austrian energy drink giant from his late father, Dietrich Mateschitz, last year.
Red Bull allocated half of last year’s $1.6 billion profit among shareholders and paid Mateschitz, who owns 49% of the company, a total of $615 million, Bloomberg reported, citing documents posted on Austria’s corporate registry.
Mateschitz’s share of the company made him eligible for a $405 million payout that was supplemented by an additional $210.4 million, which was given as part of a company tradition of providing its Austrian owner with an extra payment, according to Bloomberg.
Forbes estimate Mateschitz’s net worth at $34.4 billion, ranking him at No. 35 in Forbes’ real-time billionaires list. Mateschitz, 31, is also one of the world’s youngest billionaires and became Europe’s wealthiest millennial after he inherited his father’s 49% Red Bull stake last year.
11.6 billion cans of Red Bull were sold last year. The company reported $10.53 billion in revenue.