Tributes pour in for Red Bull's Dietrich Mateschitz

The world of Formula 1 was rocked just minutes before qualifying on Saturday at COTA with the news of the passing of Red Bull co-founder Dietrich Mateschitz.

The Austrian billionaire built a powerhouse business in the beverage industry and one of the most recognizable brands in the world, thanks in large part to Mateschitz's novel approach to marketing with a focus on sports.

The Austrian's endeavour into F1, which began in earnest when Red Bull became a team owner in 2004, followed an equally impressive path to success.

As the owner of two teams competing at the highest level of motorsport, and as the benefactor through Red Bull of dozens of young drivers over the years, Mateschitz leaves a lasting legacy as one of Grand Prix racing's most impactful players in its history, and yet he was a rare visitor to the F1 paddock.

"He is a remarkable man, what he’s done for so many, not just in Formula 1 but in the Red Bull business, in the Red Bull world, across all the sporting platforms," commented an emotional Christian Horner on Saturday.

"He was a man that inspired so much. He is the reason that we are here. It was his passion for Formula 1, and his vision that is the reason that he has two teams in the Formula 1 pit lane. He was always enthusiastic, encouraging, supportive, in the good days and the bad days.

"So many owe him so much. I feel privileged to have known him."

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Horner paid tribute to an individual that had played a vital role in his own personal success as a team principal.

"He gave me a chance as a young guy, he backed me, and he inspired so many others," added the Briton.

"He gave so many people an opportunity. He encouraged you that nothing is impossible, that nothing is unsurpassable, and to follow your dreams. He was a fan of Formula 1.

"He was hugely proud of everything that we’ve done. The big thing now is that he’d want to see us go out there and give it everything, and we’ll be doing that today for him."

As the news of Mateschitz's passing swept through the paddock, tributes poured in on social media from F1's most prominent members.

Ferrari Chairman John Elkann said: "I am grateful to Dietrich Mateschitz for all he has done for motor racing and will remember his passion and courage as an entrepreneur and as a man who always loved new challenges.

"On behalf of everyone at Ferrari, I would like to offer our condolences to his family and to our friends at Red Bull Racing and AlphaTauri. Our thoughts and sympathies are with them all."