Early Life
Susan Alfond was born in 1946 in Maine, as the daughter of Harold Alfond and Dorothy (née Levine). Her father, Harold Alfond, founded the Dexter Shoe Company in 1958. Alfond grew up in a family immersed in the shoe manufacturing industry.
Rise to Success
Susan Alfond's wealth is largely derived from the Dexter Shoe Company, which her father sold to Warren Buffett's Berkshire Hathaway in 1993 for $433 million in Berkshire Hathaway stock. This deal proved to be extremely lucrative, as the value of Berkshire Hathaway shares has increased significantly over the years, making Alfond the wealthiest person in Maine.
Key Business Strategies
While Susan Alfond inherited her wealth, the success of the Dexter Shoe Company was due to her father, Harold Alfond's, business acumen. He transformed the company into a major shoe manufacturer by producing private-label footwear and later, developing Dexter Shoes. Harold also pioneered the factory outlet concept, contributing to the company's growth.
Philanthropy
Susan Alfond is known for her significant philanthropic efforts. She has made substantial contributions to various charitable organizations, including education, healthcare, and the arts, continuing her family's legacy of giving.