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 also owns a horse breeding business.
Mary Malone's net worth of $4.77B can buy ...
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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 a June 2020 SEC filing.
She's collected about $1.5 billion in dividends as of June 2020, 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.
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.