Early Life
Bill Alfond was born in 1949 to a Jewish family in Maine, USA. His parents were Dorothy (née Levine) and Harold Alfond, who founded the Dexter Shoe Company in 1958. Alfond graduated from Governor Dummer Academy (now The Governor's Academy) in 1967, where he now serves as a trustee.
Rise to Success
Alfond inherited shares in Berkshire Hathaway after his father's death in 2007, making him and his siblings billionaires. His father, Harold, made a pivotal business decision in 1995, selling the Dexter Shoe Company to Warren Buffett for $433 million in Berkshire Hathaway stock. Alfond was president of the bowling shoe division at Dexter Shoe Company until it was sold.
Key Business Strategies
The key to Alfond's wealth was his father's strategic move to take Berkshire Hathaway stock instead of cash for the sale of Dexter Shoe Company. This decision led to substantial growth in wealth due to the rising value of Berkshire Hathaway shares.
Philanthropy
Bill Alfond and his wife, Joan, founded the Bill and Joan Alfond Foundation in 1986. The foundation focuses on higher education, healthcare, medical research, economic development, and youth education programs. Recent initiatives include supporting Colby College and Thomas College, as well as economic development projects in Waterville, Maine.
