Red Bull heir Mark Mateschitz has achieved the title of the world's richest person younger than 30, according to the latest Forbes Billionaires List. The 30-year-old inherited 49% of the energy drink company after his father, Dietrich Didi Mateschitz, died of pancreatic cancer in October. With a net worth of $34.7 billion, Mark Mateschitz’s reign as the youngest billionaire will be short-lived, as he turns 31 next month.
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The energy drink industry is one of the fastest-growing sectors in the global beverage market. According to the latest market research, the global energy drinks market was valued at $58.48 billion in 2022 and grew to $62.89 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. Experts predict that the market will continue to expand, reaching a staggering $83.83 billion by 2027.
With such massive potential for growth, it's no wonder that new players are entering the market. While it might not seem lucrative, Monster Beverage Corp is one of the best returning stocks of the past decade. Many startups in the space are seeing success as well. For example Pureboost, the first clean energy drink mix offering a healthier alternative to the sugary, chemical-laden energy drinks currently on the market. The startup is currently raising on Wefunder, which means anyone can invest, and already raised over $2.6 million.
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Austria-based Red Bull, founded by Dietrich Mateschitz in 1984, saw a surge in revenue of almost 25% in 2022, selling over 11.6 billion cans of the energy drink globally, according to Bloomberg. Red Bull's success can be attributed to its founder's unique marketing concept, inspired by functional drinks from East Asia and the launch of Red Bull Energy Drink in Austria on April 1, 1987.
This year's Forbes list features 15 billionaires younger than 30, with a combined net worth of $64 billion. While 11 of them inherited their wealth, four are self-made entrepreneurs, at least one dropped out of college, and two are teenagers. The group represents 0.6% of the 2,640 billionaires featured on this year's list, according to Forbes.
As for Red Bull, it's clear the brand still has wings to soar. The energy drink giant has become a household name worldwide, and with Mark Mateschitz at the helm, it will be exciting to see where the brand goes next.
Mateschitz may be the richest person age 30 or younger, but he's not the only member of Forbes' exclusive 30 under 30 billionaire list making headlines. Meet Clemente Del Vecchio, the world's newest teenage billionaire and second-wealthiest on the list with a net worth of $3.5 billion. At just 18 years old, Del Vecchio and his two siblings inherited their fortunes from their father, the billionaire founder of Italy's Luxottica Group, which owns popular brands such as Sunglass Hut, Ray-Ban and Oakley.
Coming in fourth on the list is Gustav Magnar Witzoe, a 29-year-old salmon tycoon from Norway, with a net worth of $2.7 billion. Witzoe inherited almost half of his family's salmon farming company SalMar ASA but has chosen to pursue a career as a tech startup investor instead.
Rounding out the top five is Kevin David Lehmann, a 20-year-old from Germany with a fortune of $2.3 billion. Lehmann inherited a 50% stake in the chemist chain dm-drogerie mrkt from his father at age 14, although it remained under trusteeship until his 18th birthday.
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