The family has had its controversies. In 2012, Chaleo’s grandson, Vorayuth, was involved in a hit-and-run case while driving his Ferrari in Bangkok that left a police officer dead. The heir, also known by his nickname, Boss, avoided prosecution by fleeing Thailand on a private jet in 2017. He and his family have denied all charges, and Thai officials dropped them three years ago.

That sparked a boycott of Red Bull products in the country and forced the prime minister to order a review of the case that led prosecutors to indict Vorayuth on two fresh charges. The statute of limitations on one of them — drug use — has already expired. The remaining one, reckless driving causing death, is set to run out in 2027. Vorayuth’s whereabouts remain unknown.

“We know that in this case, the Yoovidhyas will get away,” said Yupana Wiwattanakantang, associate professor at the National University of Singapore’s Business School. The family is waiting for people to forget about it, she said.

TCP Group declined to comment on the family’s wealth and the investigation. Thailand’s Office of the Attorney General didn’t respond to requests for comment.

There’s also increasing spotlight on their wealth in the country, where they and two other clans — the Chearavanonts of conglomerate Charoen Pokphand Group and the Chirathivats behind Central Group – are worth more than $US69 billion combined, equivalent to 14 per cent of the 2021 gross domestic product. Thailand’s per-capita income was less than $US7,100 that year.

And questions remain about who will take over the business. TCP Group is currently led by 53-year-old Saravoot, Chaleo’s son with his second wife, and all its directors are part of the family. While the clan owns the entirety of the shares, none of the third generation — heirs to the fortune — is involved in running the business. They might pass the group’s management to external professionals, Yupana said.

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On the Austrian side, Dietrich Mateschitz’s son, Mark, stepped down from running Red Bull’s organics unit when his father died, removing himself from the business’s day-to-day operations. He picked a new management committee to lead the company.

The next generation will also have to deal with challenges ranging from growing competition to concerns over market-dominance abuse in Europe and a yearslong trademark dispute in China.

But for now, Chadwick says there’s reason for optimism about the company.

Red Bull has redefined “what it means to be an energy drink,” he said. They’ve portrayed “these drinks as not something you drink when you are ill, but something you drink firstly for energy,” he explained. And “I think we are going to see this post-pandemic explosion in exercise and health and fitness.”

Bloomberg

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