Early Life
Susan Gail Alfond was born in 1946 in Maine to Harold Alfond and Dorothy (née Levine). Her father, Harold Alfond, founded the Dexter Shoe Company in 1958. Growing up in a Jewish family, Susan was immersed in the shoe manufacturing industry from a young age.
Rise to Success
The pivotal moment in the Alfond family's financial story came in 1993. Harold Alfond sold the Dexter Shoe Company to Warren Buffett's Berkshire Hathaway for $433 million in Berkshire Hathaway stock. This transaction proved to be incredibly lucrative, as the value of Berkshire Hathaway shares soared over the years. This decision made Susan the richest person in Maine.
Key Business Strategies
Susan's primary source of wealth comes from the Berkshire Hathaway stock, a result of the sale of Dexter Shoe Company. Her father's foresight in accepting stock rather than cash was a key business strategy that led to the family's immense wealth.
Philanthropy
Susan Alfond is known for her philanthropic efforts, supporting various charitable organizations focused on education, healthcare, and community development, particularly in Maine. She maintains a relatively low public profile, but her contributions are substantial and reflect the values instilled by her father.
