What is John Ferolito's Net Worth?
John Ferolito is an American entrepreneur who has a net worth of $5 million. John Ferolito is best known for being the co-founder of the Arizona Beverage Company who makes Arizona Iced Tea. In the 1970s Ferolito and partner Don Vultaggio established a discount beer and soda delivery company based out of Brooklyn, New York. It focused on flavored seltzer and malt liquor until AriZona Iced Tea was introduced in 1992.
In 2012 Vultaggio won a lawsuit against Ferolito ruling that the company could buy out John's half-interest. Ferolito was also the target of another lawsuit which claimed he was negligent when taking a mulligan at a golf course in New Jersey and struck another golfer with his ball which knocked him unconscious. John and his son John Ferolito, Jr. have been feuding with Vultaggio for years over the value of the company. John Jr. was ranked #8 on the list of delinquent taxpayers compiled by the state Department of Taxation in Finance in 2014.
