The investor of arguably the most famous cup in the world has died.

Robert Leo Hulseman, who invented the Red Solo Cup, such a popular party staple it even has its own hit song by Toby Keith, died December 21 age 84 surrounded by his large family in Northfield, Illinois.

Hulseman worked at Solo Cup Company for 60 years, according to his obituary.

Red Solo Cup investor Robert Leo Hulseman died at age 84

During that time, he invented the Red Solo Cup sometime in the 1970s.

Part of the popularity of the cup, despite its eye-catching crimson color, making it stand out on a crowded table full of brown and green bottles of beer and wine - is its inside rings with 1.5 ounces for liquor, 5 ounces for wine and 12 ounces for beer.

It's not clear why the solo cup was made bright red, but Solo Cup brand manager Rebecca Bikoff told Vice in June, 'It makes sense that consumers would gravitate to this color when you think about the kind of occasions it's used at.'

While the company is best known for its square red cups, it also sells plastic and paper cups and plates of varying colors and designs.

Hulseman began working at his father's company at 18 and played various roles in the business until it was a $1.6billion a year in revenue company, according to Yahoo Finance.

The Red Colo Cup, above, a staple at tailgates and keggers, was invented sometime in the '70s

His father, Leo Hulseman, invented a solo cup, a paper cup he made in his home and sold to water companies in the 1930s. It's unclear whether this is the first party cup, but Solo Cup spokesperson Kim Healy said in 2011 it was 'one of the first,' according to Slate.

In 2004, Solo Cup acquired Sweetheart, another cup company, but founded on $1.1 billion in debt, with Moody's lowering the credit rating on its bond, according to Forbes.

In 2012, the company was acquired for around $1billion by Dart Company.

The cup has the unique distinction of having a hit song inspired by it, sung by country crooner Toby Keith. 'You're more than amazing, you're more than fantastic,' Keith sings about the cup.

Hulseman had 10 children, nine of whom survive him. He is also survived by his wife of 60 years, Sheila.

While his cups may be a familiar, even required, sight at raucous, alcohol-fueled parties, Hulseman was known as deeply religious and liked to pen poems to God.