"In an era when American billionaires are minted in Silicon Valley and fortunes are built on algorithms and artificial intelligence, Don Vultaggio stands out. With a net worth of nearly $6 billion, the 73-year-old cofounder of Arizona Beverage USA made his billions largely by selling $0.99 cans of iced tea that have become as iconic as they are affordable. Unlike ultrawealthy university alums, including Elon Musk, Jeff Bezos, and Warren Buffett, Vultaggio never went to college. In fact, he said he probably wouldn't have finished high school if his mother hadn't stepped in."
"He attributes his success to giving customers service and value and treating employees like family. "I wasn't a good student, but it wasn't the school's fault. It was my fault, and it worked out for me, but sometimes it doesn't work out," Vultaggio told Business Insider's Emily Christian during a recent interview at AriZonaLand in Keasbey, New Jersey."
"When he was a teenager, still in school, Vultaggio said he began working for his first boss at a Brooklyn grocery store, earning $1 per hour. "That guy gave me the experience of being a business person," he said. The job taught Vultaggio the value of $1 and how long an hour can last. When that boss died a few years ago, the family sent his ashes to Vultaggio. "He's buried in my backyard, and a plaque there that says 'World's greatest boss.'""
Don Vultaggio is the 73-year-old cofounder of Arizona Beverage USA with a net worth near $6 billion earned largely from selling $0.99 iced-tea cans. Vultaggio never attended college and nearly did not finish high school, and he credits mentorship rather than formal education for his business foundation. He began working as a teenager in Brooklyn grocery stores, earning $1 per hour and learning the value of money and time. Vultaggio emphasizes giving customers service and value and treating employees like family. His first boss and his father served as key mentors in his career.
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