Chaleo
Yoovidhya, the Thai entrepreneur who became a billionaire by developing the
popular energy drink Red Bull, died on Saturday of natural causes at the age of
89.
Chaleo’s
company, T.C. Pharmaceuticals, began producing Krathing Daeng – in Thai meaning
“red bull” – in the 1970s. The product, which quickly became a hit among truck
drivers who needed to stay awake on the road and factory shift workers, was
discovered in 1982 by Dietrich Mateschitz, an Austrian who was working for a
consumer goods company.
Forbes
magazine ranked Chaleo among the third wealthiest richest man in Thailand and the
205th wealthiest man in the world. His assets are estimated to be worth several
billion dollars.
Mateschitz
collaborated with Chaleo and his son Chalerm Yoovidhya to introduce the drink
to a global audience. Red Bull was launched in 1984 and is now sold in 160
countries worldwide with annual sales of $5 billion. His eldest son Chalerm
Yoovidhya runs the company as well as the family-owned wine business, Siam
Winery.
In addition
to Red Bull, Chaleo had controlling interest in the Piyavate Hospital chain and
the Siam Winery, the Post said. In Chaleo’s passing, Chalerm now runs Red Bull
as well as the family-owned wine business.
Including
Chalerm, Chaleo Yoovidhya is survived by 11 children, five from his first wife
and six from his second.he family-owned wine
business, Siam Winery.
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