Buffett’s “worst deal” continues to fuel Alfond Foundation’s $1B in philanthropy across Maine

The Harold Alfond Foundation has transformed proceeds connected to Warren Buffett’s $433 million Dexter Shoe Company acquisition into a philanthropic engine benefiting Maine communities. Buffett has called the 1993 acquisition his “worst deal” only because the Berkshire Hathaway stock used in the transaction subsequently appreciated dramatically. To date, the foundation has directed nearly $1 billion in giving to healthcare, education, workforce development, and youth initiatives, including MaineGeneral Health in Augusta, the University of Maine System, and the Roux Institute at Northeastern University in Portland, strengthening opportunity, innovation, and community development statewide.