Chalerm Yoovidhya Transfers 2% Red Bull Stake to Trust Company

Chalerm Yoovidhya, the son of the Thai businessman who co-founded Red Bull, has transferred his 2% stake in the company to Fides Trustees SA, a Geneva-based trust company. This stake, valued at approximately $1.1 billion, has been held by Chalerm for around four decades as Red Bull grew into a global success story. The transfer was documented in an Austrian regulatory filing published on Monday, May 20. The filing did not provide details on the reasons behind the transfer, the ultimate destination of the stake, or the beneficiary.

The transfer of the stake to a trust company is a common practice to ensure long-term continuity in large, successful companies. A spokesperson for Red Bull confirmed this, stating that fiduciary solutions are often used to maintain stability within the company. However, the spokesperson declined to comment further on internal company or family decisions. Representatives for TCP Group, controlled by the Yoovidhya family, did not immediately respond to requests for comment.

Fides Trustees, known for working with high and ultra-high net worth families and individuals, assists in reviewing and revising personal structures as circumstances change. The company did not respond to requests for comment.

The partnership between the Austrian marketer and the Thai businessman began in the 1980s when Dietrich Mateschitz, the Austrian co-founder, traveled to Thailand and discovered a local uncarbonated tonic that cured his jet lag. He approached Chaleo Yoovidhya, who was selling the tonic in Southeast Asia, and suggested they introduce the drink to the world with one crucial change: it would be carbonated. The introduction of Red Bull in 1987 under the slogan “Gives you wings” helped create the entire energy drink industry as it is known today. The company sold 12.7 billion cans of its caffeinated beverage last year, posting €11.2 billion ($12.8 billion) of revenue.

Red Bull’s global operations have been led from Austria since its inception. The company has grown into one of the world’s largest sport-marketing empires, spanning Formula 1 auto racing, soccer, and mountain biking. The Yoovidhya family still holds its 49% stake in Red Bull through its holding company. Mateschitz’s son Mark holds the remaining 49%. The filing was signed by Chalerm, 74, and the three executives who have led Red Bull since Dietrich Mateschitz’s death in 2022. Chaleo Yoovidhya, the Thai co-founder, passed away in 2012.

This transfer of stake to a trust company is a strategic move that ensures the long-term stability and continuity of Red Bull. It is a common practice among large, successful companies to use fiduciary solutions to maintain stability. The transfer does not indicate any immediate changes in the company's operations or leadership, as the Yoovidhya family continues to hold a significant stake in the company. The move is likely aimed at preserving the family's legacy and ensuring the company's continued success in the global market.