Don Vultaggio’s profile picture

Don Vultaggio

Don Vultaggio’s profile picture
Net worth 2018: $2.96 Billion
Residence: Port Washington, New York
Country: United States
Children: 2
Education: High School Graduate, High School
BIOGRAPHY

Don Vultaggio was born in Port Washington, New York, United States. Arizona Beverages cofounder Don Vultaggio has built his fortune one 99-cent tallboy can of iced tea at a time. He got his start in the 1970s selling beer and soda from the back of an old van in Brooklyn's toughest neighborhoods, where others refused to go. In 1992 he went into iced tea, launching Arizona from a Brooklyn warehouse and quickly toppling the competition with taller cans and flashier labels. Arizona sells some 3 billion containers of tea, juice, water and alcoholic drinks annually, including its popular green tea and Arnold Palmer lines. In 2015 he was ordered to buy out his former friend and partner, John Ferolito, for about $1 billion to settle a lengthy, bitter shareholder dispute.

NET WORTH STATISTIC
2017

$3 Billion

2018

$2.96 Billion

The simple math says if you get the price that makes a consumer want to buy it and buy it again, and the competition doesn't look as good or taste as good, you've got a business.

Don Vultaggio
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