Don Vultaggio
Domenick "Don" Vultaggio | |
|---|---|
| Born | February 26, 1952 Brooklyn, New York, U.S. |
| Occupation | Entrepreneur |
| Known for | Co-founder and chairman of Arizona Beverage Company |
Domenick "Don" Vultaggio (born February 26, 1952) is an American billionaire entrepreneur, widely recognized as the co-founder and chairman of the Arizona Beverage Company, the originator of the AriZona Iced Tea line. Originating from Brooklyn, Vultaggio initially worked in beverage distribution before transitioning to the ready-to-drink tea market in the early 1990s.
AriZona grew into a top tea brand in the United States under his guidance. In 2015, following an extended legal confrontation, he purchased the shares of longtime associate John Ferolito, thus obtaining complete ownership of the business.
By July 2024, his estimated net worth reached approximately US$6.5 billion.
Early life
Raised in Flatbush, a working-class district of Brooklyn, Vultaggio's father was employed as a manager at an A&P supermarket.
Career
During the 1980s, Vultaggio partnered with John Ferolito to establish a beer distribution company. Their malt liquor brand Midnight Dragon attracted attention due to its controversial advertising campaigns. Another malt liquor product, Crazy Hourse—named after the Sioux leader Crazy Horse—faced bans in multiple states after objections from Native American communities.
Shifting focus to ready-to-drink teas, Vultaggio and Ferolito founded the Arizona Beverage Company in 1992, operating out of a warehouse in Brooklyn. After a protracted legal dispute, Vultaggio acquired Ferolito’s ownership interest for roughly $1 billion in 2015, consolidating control and directing the company's expansion.
Personal life
Vultaggio is married to Ilene, who is an artist by profession. They have two sons, Wesley and Spencer, both serving as executives within the company as chief creative officer and chief marketing officer, respectively. The family formerly lived in Port Washington, New York.
In 2004, they bought a private peninsula spanning two acres in Sands Point, New York for $4 million and completed construction of a 30-room mansion there by 2007.