(Bloomberg) -- Red Bull heir Mark Mateschitz received a €582 million ($615 million) dividend as his first payment since inheriting the energy-drink empire from his late father last year.
The company, based in the Austrian town of Fuschl am See, distributed half of last year's €1.56 billion profit among its shareholders, according to a shareholder resolution published in the country's corporate registry. Mateschitz owns 49% via his holding company, making him eligible for a €383 million handout. The Yoovidhya family in Thailand holds the remaining 51%.
Europe's richest millennial received an additional €199 million on top of the pro-rata distribution following a years-long tradition of making an extra payment to the company's Austrian owner.
The dividend is the lowest in three years with rising marketing and production costs eating into profitability last year. Mateschitz took over the company in 2022 following the death of his father, Dietrich, who had founded the company.
Red Bull's sponsorship payments exceeded €1 billion for the first time last year. It sold more than 11 billion cans of its caffeinated beverage, reaching net revenue of €9.68 billion.
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