Ferolito, John M Sr

Additional data from LittleSis.org

{"id": 246293, "type": "entities", "links": {"self": "https://littlesis.org/entities/246293-John_Ferolito"}, "attributes": {"id": 246293, "name": "John Ferolito", "blurb": "Co founded Arizona Iced Tea; JMF Investment Holdings Inc", "types": ["Person", "Business Person"], "aliases": ["John Ferolito"], "summary": "John Ferolito Sr. co-founded the wildly successful company with Domenick “Don” Vultaggio in 1992.\r\n\r\nTheir signature, 99-cent cans of iced tea helped the company score a whopping 40 percent share of the nation’s ready-to-drink tea market last year.\r\n\r\nBut the two partners have been feuding for years and went to trial over the value of the firm, with John Sr. — who’s no longer involved in the business and wants to force a sale— saying it’s worth $4 billion or more.\r\n\r\nVultaggio, who runs the company with his two sons and wants to buy out the Ferolitos, says that it’s only worth about $500 million.\r\n\r\nEvidence introduced during the case showed that John Sr. has been living it up as an absentee owner, buying seven mortgage-free homes, two boats, a helicopter and the exclusive Due Process golf course in Colts Neck, NJ.\r\n\r\nVultaggio has suggested John Sr. is partly responsible for his son’s tax woes, accusing him of “looting” more than $53 million from John Jr.’s trust fund to help finance his lavish lifestyle.", "website": null, "end_date": null, "parent_id": null, "extensions": {"Person": {"party_id": null, "gender_id": 2, "name_last": "Ferolito", "name_nick": null, "net_worth": null, "birthplace": null, "name_first": "John", "name_maiden": null, "name_middle": "M", "name_prefix": null, "name_suffix": "Sr", "nationality": [], "is_independent": null}, "BusinessPerson": {"sec_cik": null}}, "start_date": null, "updated_at": "2019-10-10T12:26:51Z", "primary_ext": "Person"}}

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