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Red Bull has confirmed that Dietrich Mateschitz, co-founder of Red Bull Racing, passed away this Saturday at the age of 78.
Mateschitz bought the Jaguar team in late 2004 and renamed it Red Bull Racing. The Austrian businessman helped lead his midfield team to become world champions in just six seasons. The entrepreneur owned 49% of the energy drink brand and was the driving force behind its move to racing, which began in the mid-1990s.
In November 2004, he bought the Jaguar Racing team from the former owners of Ford and created Red Bull Racing. A year later, he and Gerhard Berger teamed up to buy the Minardi team from Paul Stoddart, renaming it the Scuderia Toro Rosso.
Red Bull won its first championships in 2010 with Sebastian Vettel, winning both titles that year and the following three seasons. The glory years extended until 2021, where Max Verstappen brought to the team another drivers’ championship and in 2022 he repeated the feat.
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