Austrian billionaire, Red Bull co-founder, Dietrich Mateschitz dies at 78

F1 Grand Prix of Austria - Qualifying (File Photo) Infiniti Red Bull Racing team owner and CEO of the Austria energy drink producer Red Bull, Dietrich Mateschitz smiles on track after qualifying for the Formula One Grand Prix of Austria at Red Bull Ring on June 20, 2015 in Spielberg, Austria. (Charles Coates/Getty Images)

By Jeff MacDonald, Cox Media Group National Content Desk

AUSTIN, Texas — Austrian businessman Dietrich Mateschitz died Saturday, officials with the Red Bull racing team said.

Mateschitz, who was the public face of Red Bull, owned 49% of the company and was known for his efforts to showcase the energy drink brand into Formula 1 and extreme sports, according to Motorsport.com.

According to The Associated Press, Mateschitz owned the Red Bull Formula One racing team, which won the Constructors’ Championship in 2010, 2011, 2012 and 2013.

He is survived by his partner Marion Feichtner and son Mark Gerhardter, according to Formula1.com.

In addition to F1 racing teams, Red Bull operates football clubs and ice hockey teams. It also has contracts with hundreds of athletes in various sports.