Red Bull heir Mark Mateschitz received a $615 million dividend payment, Bloomberg reported.
Europe's richest millennial inherited a 49% stake in the energy-drink giant when his father died last year.
The Austrian company is known for its huge marketing spend and the Red Bull Racing F1 team.

Europe's wealthiest millennial just got a whole lot richer.

Red Bull heir Mark Mateschitz collected a 582 million euro ($615 million) dividend , according to a Bloomberg report citing a resolution published in Austria's corporate registry.

The payout is the first for the 31-year-old since inheriting a 49% stake in the energy-drink maker from his father, Dietrich, who died last year.

That stake meant Mateschitz was entitled to a $405 million dividend, Bloomberg reported, along with an extra $210 million in line with the company's tradition of making additional payments to its Austrian owners.

Red Bull gave shareholders almost half its 1.56 billion euro ($1.64 billion) profit for 2022.

However, the dividend was still the lowest for three years after big massive sponsorship spending all but erased a surge in net income.

Red Bull sponsors a highly successful Formula 1 team.




Xavier Bonilla/Getty Images

The Austrian company is known for pumping cash into marketing to raise its profile.

It owns the highly successful Red Bull Racing Formula 1 team, sponsors several high-profile athletes, and manages a portfolio of five soccer clubs, including RB Leipzig and the New York Red Bulls.

Mateschitz is the world's 88th-richest person with a net worth of $18 billion, per the Bloomberg Billionaires Index. That makes him Europe's wealthiest millennial, according to the outlet.