Ted Alfond

Net Worth

$3.54B

-0.04% (24h)

Ted Alfond, born in 1945, is an American billionaire businessman primarily known for his involvement in the fashion and retail industry. His wealth stems from his family's legacy with the Dexter Shoe Company, founded by his father, Harold Alfond. Ted served as the executive vice president of Dexter Shoe Company. Upon his father's passing in 2007, he inherited shares in Berkshire Hathaway, making him a billionaire. He is also a part-owner of the Boston Red Sox. Residing in Weston, Massachusetts, and educated at Rollins College, Alfond's career achievements and philanthropic efforts highlight his influence in both business and community development.

The Full Dossier

Early Life

Ted Alfond was born in 1945 to Dorothy (née Levine) and Harold Alfond. His father, Harold, founded the Dexter Shoe Company in 1958, which would later become a significant source of the family's wealth. Ted grew up in a supportive environment that fostered his interest in business.

Rise to Success

After graduating from Rollins College in 1968, Ted joined the Dexter Shoe Company as an executive vice president. He played a crucial role in the company's growth. The company was sold to Berkshire Hathaway in 1995 for $433 million in Berkshire Hathaway stock.

Key Business Strategies

Ted inherited shares of Berkshire Hathaway after his father's death in 2007, which significantly increased his wealth due to Warren Buffett's investment in the Dexter Shoe Company.

Philanthropy

Ted Alfond is involved in philanthropy, continuing a family tradition. His father, Harold, established the Harold Alfond Foundation, which has donated over $100 million to charitable causes.

Career Timeline

2007

Inheritance of Shares

Inherited shares in Berkshire Hathaway, becoming a billionaire.

1995

Dexter Shoe Sold

Dexter Shoe Company was sold to Berkshire Hathaway.

1968

Executive Vice President

Joined Dexter Shoe Company as executive vice president.

Philanthropic Impact

Education, Healthcare, Youth Development$100M+

Harold Alfond Foundation

Supports education, healthcare, youth development, and other charitable causes.