Mateschitz donates $92 million to research university

VALENCIA, SPAIN - FEBRUARY 02: Sebastian Vettel (L) of Germany and Red Bull Racing talks with Red Bull Racing team owner Dietrich Mateschitz (R) during day two of winter testing at the Ricardo Tormo Circuit on February 2, 2011 in Valencia, Spain. (Photo by Mark Thompson/Getty Images) *** Local Caption *** Sebastian Vettel; Dietrich Mateschitz

Sebastian Vettel with Red Bull Racing team owner Dietrich Mateschitz

Feb.2 (GMM) Formula 1 team owner Dietrich Mateschitz has donated more than $92-million to a medical research university in his native Austria.

The local ‘Salzburg 24’ reports that the 67-year-old billionaire, whose energy drink company owns the Red Bull and Toro Rosso teams, donated the money to the Paracelsus Medical University.

Mateschitz reportedly wants the money to be used for research into incurable spinal injury and paralysis.

The report said the university was founded in 2002 with Mateschitz’s support.

“This is the third highest amount ever donated to a university in Europe by a private person,” said a university official.

“We are very grateful and also aware of the great responsibility that comes with such a high sum.”

The Spanish press quoted the publicity-shy Mateschitz as saying: “It is a very worthy project and I want to help.”