Boring Company investigates the inner workings of overlooked businesses and founders within bland industries and the reasons behind their success. Today, we will discuss AriZona Beverages USA, a company known for its $0.99 teas and the Arnold Palmer beverage. The founder of AriZona is Don Vultaggio. According to the latest Forbes report, he has a net worth of ~$6.5 billion. Yes, with a "B". To put this into context, he's worth more than figures like Magic Johnson, Bill Ackman, and Nelson Peltz (based on Forbes)... Don's success is a testament to wholly owning a great, scalable business, and his journey has plenty of entrepreneurial lessons. I hope you enjoy listening to this episode as much as I enjoyed researching Don's story. Inquiries: boringcompanypodcast@gmail.com Sources: https://www.aegisdentalnetwork.com/idt/2018/08/outside-perspective-don-vultaggio-and-reinventing-a-business. https://www.forbes.com/sites/georgebradt/2015/07/01/how-to-turn-seasonality-into-a-competitive-advantage/?sh=2a57173449b1. https://www.brandnarrative.fm/from-0-to-1-million-cans-per-day-the-arnold-palmer-tea-story/. https://www.fastcompany.com/90926652/john-ferolito-made-arizona-ice-tea-ubiquitous-now-he-wants-to-make-your-favorite-summer-drink-sexy. https://www.foodandwine.com/news/why-arizona-iced-teas-price-stays-at-99-cents. Conrad, Jennifer. “A Business Built to Last.” Inc., vol. 46, no. 1, 2024, p. 20. EBSCOhost. Accessed 16 April 2024. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8588011/ https://www.latimes.com/business/story/2022-04-12/az-iced-tea-inflation-99-cents. https://www.cnbc.com/2022/10/13/arizona-iced-tea-ceo-vows-to-keep-99-cent-price-tag.html. https://www.youtube.com/watch?v=fMUZ2sVjLfY. https://nypost.com/2014/10/13/arizona-iced-tea-heir-is-no-8-on-delinquent-taxpayers-list/ http://www.fundinguniverse.com/company-histories/ferolito-vultaggio-sons-history/. Hunter-Hart, Monica, and William Baldwin. “Mr. Tea.” Forbes, vol. 206, no. 6, 2023, pp. 32-34. Business Source Complete. Accessed 16 April 2024. https://www.rd.com/article/arizona-iced-tea-99-cents/ https://www.wavy.com/news/national/arizona-iced-tea-is-still-99-cents-in-this-economy-how-is-that-possible/ https://www.dailymail.co.uk/sport/golf/article-3807730/Arnold-Palmer-earned-40m-final-year-700m-fortune-King-built-empire.html. https://www.forbes.com/sites/chasewithorn/2017/10/17/inside-arizona-iced-tea-how-don-vultaggio-beat-snapple-became-a-billionaire-and-nearly-lost-it-all/?sh=45fd9faa68fd. https://www.youtube.com/watch?v=uthXcJ6Y-CY https://humanprogress.org/arizona-iced-tea-has-been-99-cents-in-the-u-s-for-30-years/ https://www.thestreet.com/investing/stocks/how-raising-arizona-iced-tea-ruined-friendship-born-in-beer-13118033 https://www.reuters.com/article/us-arizonaicedtea-trial/judge-rules-arizona-iced-tea-co-founder-son-owed-1-billion-for-buyout-idUKKCN0I31TS20141014/ https://www.npr.org/2022/06/28/1107185064/inflation-arizona-tea-food-costs-dollar-slice-costco-hotdog-loss-leaders https://www.reddit.com/r/IAmA/comments/ge26p6/i_am_don_vultaggio_founder_chairman_of_arizona/ https://www.mentalfloss.com/article/88735/why-arizona-iced-tea-cheaper-water Roth, Daniel. “Just call us cockroaches.” Forbes, vol. 157, no. 15, 1996, pp. 58-58. Business Source Complete. https://sports.yahoo.com/news/arnold-palmer-finally-making-money-214100061--golf.html https://golfweek.usatoday.com/2022/03/06/arnold-palmer-iced-tea-20-year-anniversary/ https://www.mashed.com/873625/the-untold-truth-of-arizona-beverages/ https://podcasts.apple.com/us/podcast/taste-radio/id1109466665?i=1000424686530 https://www.cnn.com/2022/08/27/business-food/arizona-tea-name-origin/index.html Note: This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
