The CEO of AriZona Iced Tea has chosen not to increase the price of their 99-cent product: "It's my way of giving back."

Since 1992, AriZona Iced Tea has maintained its 99-cent can price, with no increase in cost after 32 years.

"Don Vultaggio, the brand's chairman and founder, stated in a recent interview with Today that the secret to their success is by making it faster, shipping it better, shipping it closer, and using thinner cans."

Vultaggio believes that there's no need to change a formula that has helped him increase his net worth to over $6 billion, as per Forbes.

"We're successful, debt-free, and own everything," he declares. "Why should those struggling to pay their rent pay more for their drink?"

He remarked, "Perhaps it's a small gesture of gratitude."

Vultaggio revealed in a 2022 interview with CNBC Make It that he maintains low prices by not following the same methods as larger competitors. Unlike other companies, AriZona does not invest heavily in advertising and instead relies on word-of-mouth to attract new customers.

""Every day, I tell people that I go to a gunfight with Coke and Pepsi, but I have a water gun while they have machine guns," he stated."

Despite expanding into selling merchandise and alcoholic beverages, Arizona remains focused on maximizing sales of its 99-cent cans.

The billionaire won't dismiss the possibility of raising the price one day, but he said he will make an effort to maintain the price as it is for as long as possible.

"He stated that he couldn't predict the future, but he didn't see it happening anytime soon. He added, "We will do our utmost to protect consumers because they are our allies.""

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