One of Warren’s biggest mistakes—just made for entries in the Forbes 400.

The Alfonds dumped their Dexter Shoe on Buffett—and the $420 million they got in Berkshire stock—just got them in elite company
New entries on the Forbes 400…31 years later.



Boston Globe:

“On the Forbes list, brothers Bill and Ted Alfond tied for the 388th richest person in the country. The duo are two of three living heirs to their family’s fortune, thanks to Warren Buffet’s purchase of the Dexter Shoe Company.

Their sister Susan Alfond, who didn’t make the list, is worth $3.3 billion.

Forbes reports that their father, Harold Alfond, bought an old mill in Maine in 1958 and turned it into a shoemaker that sold millions of boots and casual shoes a year.

In 1993, the company was sold to Buffet for about $420 million in Berkshire Hathaway stock, which Forbes says is now worth billions due to the rising share price”.