Billionaire Profile
Don Vultaggio & family
Global Rank
#617

Image: Public domain | via Wikimedia Commons

Don Vultaggio & family

CEO, AriZona Beverage Company
US
Real-Time Net Worth
$6.1B
As of December 2025
Age
73
Source
Beverages
Industry
food-beverage
Citizenship
US

Biography

Domenick "Don" Vultaggio, the co-founder and chairman of AriZona Beverage Company, has built a beverage empire, starting from humble beginnings in Brooklyn. With an estimated net worth of $6.1 billion as of 2024, Vultaggio's wealth stems from the Beverages industry. His career began in the 1970s with a beer and soda distribution business before he revolutionized the ready-to-drink tea market in 1992. His company, AriZona Beverage Company, is known for its iconic 99-cent iced tea cans and has expanded into various flavors, juices, and energy drinks. Vultaggio's achievements include building a brand synonymous with value and quality, leading to a multi-billion dollar enterprise.

Wealth Over Time

In-Depth Profile

Early Life

Domenick "Don" Vultaggio was born in Flatbush, Brooklyn, New York City, in either 1951 or 1952. His early life was shaped by hard work, growing up in a working-class neighborhood. Vultaggio's father managed an A&P supermarket, which instilled a strong work ethic. Vultaggio attended high school but did not complete a college degree, viewing it as a waste of time. He began his career in the beverage industry in the 1970s, selling beer and soda from a van in Brooklyn's neighborhoods.

Rise to Success

In 1992, Vultaggio co-founded AriZona Beverage Company with John Ferolito. They started the company from a Brooklyn warehouse. AriZona's initial product was a ready-to-drink iced tea, capitalizing on the rising popularity of tea. Vultaggio's innovative approach included vibrant packaging and the now-iconic 99-cent price for their 23-ounce cans, which made it bigger, bolder, and a better bargain than competitors. Under Vultaggio's leadership, AriZona expanded its product line to include various iced tea flavors, fruit drinks, and energy drinks, solidifying its market position. In 2015, Vultaggio bought out Ferolito's share after a legal battle.

Key Business Strategies

Vultaggio built AriZona Beverages by focusing on value and quality, a strategy that has kept the brand relevant. This strategy includes a strong emphasis on maintaining the 99-cent price point for its core products, even amid rising production costs. Vultaggio's commitment to affordability and customer loyalty has been a driving force behind the company's success. The company owns its supply chain and prioritizes efficient operations, which is unusual in an era of outsourcing.

Philanthropy

Vultaggio is known for community involvement and philanthropy, focusing on education and health initiatives. In 2013, AriZona Beverages, along with Shaquille O'Neal, presented a $5,000 check to Basketball City for underprivileged kids to attend a basketball camp.

Career Milestones

1992

Co-founded AriZona Beverage Company

Founded Arizona Beverage Company with John Ferolito, which became a leading brand in the ready-to-drink tea market.

2015

Bought out John Ferolito

Purchased John Ferolito's stake in Arizona Beverage Company for approximately $1 billion, after a legal battle.

Philanthropy & Social Impact

Education

Basketball Camp Scholarship

$0.01

AriZona Beverages, alongside Shaquille O'Neal, donated to Basketball City for underprivileged kids to attend a basketball camp.

Business Philosophy & Leadership

Notable Quotes

""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.""

""Why should people who are having a hard time paying their rent have to pay more for our drink?""

Leadership Principles

Focus on Affordability

Maintain a low price point to make quality beverages accessible to all consumers.

Prioritize Family Involvement

Involve family members in the business to ensure continuity and uphold the brand's values.

Embrace Independence

Avoid debt and maintain full ownership to control decision-making and adapt to market changes.

Controversies & Challenges

1980s

Midnight Dragon Malt Liquor Controversy

Vultaggio's beer distribution company stirred up controversy for its racy advertisements for Midnight Dragon malt liquor.

Early 1990s

Crazy Horse Malt Liquor Controversy

Crazy Horse malt liquor was banned in many states after protests from Native American groups.