It’s time to pour out some Red Bull for the beverage’s creator, Chaleo Yoovidhya, who died yesterday March 17 at Chulalongkorn Hospital in Bangkok.
Chaleo was 89-years-old and the 3rd richest man in Thailand with a net worth of USD 5 billion estimated by Forbes magazine.
He was born to a Chinese immigrant family in Phichit in 1932 and formed T.C. Pharmaceuticals in 1962. The company developed the Krating Daeng energy drink in the ’70’s which became hugely popular in Thailand with anyone who didn’t want to go to sleep: truck and taxi drivers, laborers, partiers, and prostitutes, amongst others. Chaleo marketed his product with savvy, aiming it at the working classes and advertising heavily.
Chaleo teamed up with Austrian entrepreneur Dietrich Mateschitz in 1984 to form Red Bull and bring the drink to the world and now it’s sold in 160 countries and has annual sales of roughly USD 5 billion. The Yoovidhya family owns 51% of the business and Mateschitz owns 49%.
Chaleo also owned Siam Winery and 60% of the Piyavate Hospital chain, according to the Bangkok Post.
Religious rites for Chaleo will be held at Wat Kreuwal Voraviharn from today until March 24.
