Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 428 Mary Malone $4.80B

Random fact: Former assistant pled guilty in extortion attempt against her.

Overview

Malone is the largest shareholder of Campbell Soup, a publicly traded packaged food manufacturer based in Camden, New Jersey. The company sells canned soup, Pepperidge Farm cookies and Goldfish crackers, and had revenue of $8.1 billion in the year ended July 28, 2019. Malone is also the president of a horse breeding business.

As of :
Last change +$6.39M ( +0.1%)
YTD change +$1.12B ( +30.3%)
Industry Food & Beverage
Biggest asset CPB US Equity
Citizenship United States
Age 69
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Mary Malone's net worth of $4.80B can buy ...

0
troy ounces of gold
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barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Malone's fortune is derived from her stake in Campbell Soup, the company founded by her grandfather, John T. Dorrance. She's the company's largest shareholder with an 18% stake, which is held through trusts and two holding companies, according to the 2019 proxy filing.

She's collected about $1.5 billion in dividends as of October 2019, based on an analysis of company filings and Bloomberg data. The value of her cash investments is based on these proceeds, as well as taxes and market performance.

Thomas Hushen, a spokesman for Campbell Soup, declined to comment on Malone's net worth.

Biography

Birthdate: 1/1/1950
Family: Divorced, 2 children
Education: University of Arizona

Mary Alice Dorrance Malone is the largest shareholder of Campbell Soup and the granddaughter of John T. Dorrance, who invented the condensed soup formula in 1897. She graduated from the University of Arizona with a degree in English in 1972.

Malone founded Iron Spring Farm, a breeding and training center for horses in Pennsylvania and Florida in 1976. She was elected to the board of directors of Campbell Soup in 1990. The company was founded in Camden, New Jersey by Joseph Campbell and Abraham Anderson in 1869. The first ready-to-eat tomato soup was introduced in 1895 and Malone's grandfather invented the formula for condensed soup two years later. It sells almost 2 billion of cans of soup every year, according to Mark Alexander, a Campbell Soup president in an March 2016 interview with Food Business News.

The billionaire lives in Coatesville, Pennsylvania and has two children with her husband Stuart H. Malone.

Milestones
  • 1882 Arthur Dorrance joins Campbell to form a new company.
  • 1895 First can of Campbell's ready-to-eat tomato soup is introduced.
  • 1897 Grandfather John T. Dorrance invents the condensed soup formula.
  • 1954 Campbell Soup Company goes public on the New York Stock Exchange.
  • 1972 Graduates in English from the University of Arizona.
  • 1976 Founds Iron Spring Farm in Pennsylvania and Florida.
  • 1981 Marries Stuart H. Malone.
  • 1990 Mary Alice Dorrance is elected to the Board of Directors of Campbell Soup.