Alfond

Rank #1256

UNITED STATES•Fashion & Retail•Shoes

Bill Alfond

Net Worth

$3.397B

-0.15% (24h)

Bill Alfond is an American investor and philanthropist with a current net worth of $3.4 billion, ranking him among the world's wealthiest individuals. His wealth primarily stems from the inheritance of Berkshire Hathaway stock, a result of his father Harold Alfond's sale of Dexter Shoe Company to Warren Buffett in 1993. Alfond spent three decades in Dexter Shoe Company, eventually becoming president of the bowling shoe division. He has been a limited partner in the Boston Red Sox since the 1970s. Alfond co-founded the Bill and Joan Alfond Family Foundation in 1986, which supports various charitable initiatives, particularly in Maine and Massachusetts. His career includes significant achievements in both business and philanthropy, demonstrating a commitment to community and making a positive impact on society.

The Full Dossier

Early Life

William L. "Bill" Alfond was born on May 16, 1948, in Waterville, Maine, to Harold and Dorothy Alfond. He grew up in a Jewish family with roots in the shoe manufacturing industry. Alfond attended The Governor's Academy and graduated in 1967 before earning a Bachelor of Arts from Colby College in 1972 and later a Master of Arts in 2002.

Rise to Success

Alfond spent three decades at Dexter Shoe Company, eventually becoming president of the bowling shoe division. A pivotal moment in the family's wealth came in 1993 when Harold Alfond sold Dexter Shoe Company to Warren Buffett's Berkshire Hathaway for approximately $420 million in stock. This transaction propelled the Alfond family's wealth significantly through Berkshire Hathaway's growth.

Key Business Strategies

Bill Alfond's key to wealth was through holding Berkshire Hathaway stock and being a limited partner in the Boston Red Sox. He is a director of Dexter Enterprises LLC, managing investments and philanthropy.

Philanthropy

Bill Alfond co-founded the Bill and Joan Alfond Family Foundation in 1986 with his wife Joan. The foundation supports various initiatives, particularly in Maine and Massachusetts, focused on education, healthcare, and community development. The foundation has distributed over $425 million in grants.

Career Timeline

2015

Inducted into the Maine Sports Hall of Fame

Recognized for contributions to athletics and community support.

2002

Master of Arts from Colby College

Received a Master of Arts degree from Colby College

1993

Dexter Shoe Sale

His father sold Dexter Shoe Company to Berkshire Hathaway.

1986

Co-founded the Bill and Joan Alfond Family Foundation

Established a foundation with his wife to support charitable causes.

1970s

Limited Partner in the Boston Red Sox

Became a limited partner through Fenway Sports Group

1972

Graduated Colby College

Earned a Bachelor of Arts from Colby College

1967

Graduated from Governor Dummer Academy

Graduated from The Governor's Academy

Philanthropic Impact

Education, Healthcare, Community Development$30.9M

Bill and Joan Alfond Family Foundation

Supports communities across multiple states with a focus on diverse projects and initiatives. The foundation has funded projects in a variety of cities across several states, including Maine, Massachusetts, New York, New Hampshire, Maryland, and Montana.