Don Vultaggio

Last updated
Don Vultaggio
Born
Domenick Vultaggio

February 26, 1952
Brooklyn (Flatbush), New York
NationalityAmerican
OccupationBusinessman
Known forCo-founder and chairman, Arizona Beverage Company
SpouseIlene Vultaggio
Children2

Domenick "Don" Vultaggio (born February 26, 1952) is an American billionaire businessman, best known as the co-founder and current chairman of the Arizona Beverage Company, the firm behind the popular AriZona Iced Tea brand. A Brooklyn native, Vultaggio began his career in beverage distribution before pivoting to ready-to-drink teas in the early 1990s.

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Under his leadership, AriZona became one of the top-selling tea brands in the United States. He is also known for guarding the company's independence, taking full control of the business in 2015 after buying out his longtime partner, John Ferolito, following a protracted legal battle.

As of July 2024, his net worth was estimated at US$6.5 billion. [1]

Early life

Vultaggio grew up in Flatbush, a working-class neighborhood of Brooklyn, New York City, New York. [1] His father was the manager of an A&P supermarket. [1]

Career

Vultaggio and his business partner John Ferolito started a beer distribution company in the 1980's. The company's Midnight Dragon malt liquor stirred up controversy for its racy advertisements. In the early 90's, Vultaggio's Crazy Hourse malt liquor, named after the Sioux warrior Crazy Horse was banned in many states after protests and lawsuits from various Native American groups. [2]

Vultaggio made the move into ready-to-drink tea industry during that time, and in 1992, co-founded the Arizona Beverage Company with John Ferolito from a warehouse in Brooklyn. [3] In 2015, following a lengthy and bitter legal battle, he bought out Ferolito for about $1 billion. [4]

Personal life

Vultaggio is married to Ilene, an artist. [5] They have two sons, and had lived in Port Washington, New York. [6] [7] Their sons both work for the company; Wesley as chief creative officer and Spencer as chief marketing officer. [5]

In 2004, they bought a two-acre "private peninsula" in Sands Point, New York, for $4 million, and finished building a 30-room mansion in 2007. [7]

References

  1. 1 2 3 Peterson-Withorn, Chase (17 October 2017). "Inside Arizona Iced Tea: How Don Vultaggio Beat Snapple, Became A Billionaire And Nearly Lost It All". Forbes. Retrieved 14 October 2018.
  2. ↑ Gregory, Sean (April 2, 2006). "Mavericks: Raising Arizona". TIME. Retrieved July 14, 2025.{{cite magazine}}: CS1 maint: url-status (link)
  3. ↑ "AriZona Founder Don Vultaggio Credits This Habit for His Business's Longevity". Inc.com. Archived from the original on 2025-02-14. Retrieved 2025-07-15.
  4. ↑ Raymond, Nate (14 October 2014). "Judge rules AriZona iced tea co-founder, son owed $1 billion for buyout". Reuters. Archived from the original on October 14, 2018. Retrieved 14 October 2018.
  5. 1 2 Enamorado, Miguel (11 July 2012). "AriZona 20 Years: Wesley and Spencer Vultaggio". Interview Magazine. Retrieved 14 October 2018.
  6. ↑ "Forbes profile: Don Vultaggio". Forbes. Retrieved 4 July 2024.
  7. 1 2 Bear, Rob (29 April 2013). "The Magnificent Mansions of Five Famous Beverage Barons". Curbed. Retrieved 14 October 2018.
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