Nick Caporella – Billionaire
REAL TIME NET WORTH — as of 5/2/17
$3.4 B
Nick Caporella, a one-time contractor and the son of a Pennsylvania coal miner, founded National Beverage Co. in 1985. Then the CEO of telecom and cable company Burnup & Sims, Caporella started the soft drinks company to fend off famed corporate raider Victor Posner. He funded the creation of National Beverage partly using Burnup & Sims stock, diluting Posner’s stake until he eventually slunked away. Shares of the Fort Lauderdale, Fla. based firm popped in 2016 thanks to its popular sparkling water drink, LaCroix, which Caporella acquired in 1996. Other product lines include soda brands Shasta and Faygo. In September 2016, short seller Glaucus Research Group released a report questioning the company’s accounting methods and ownership structure; National Beverage responded, saying that the allegations were based on a failed 2012 lawsuit from a former associate.
Source:forbes
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