Mary Alice Net Worth

Overview

Mary Alice Smith (December 3, 1936 – July 27, 2022) was an American actress known for her roles in film, television, and on the stage. Born in Indianola, Mississippi, she began her acting career in her hometown and later moved to Chicago. She graduated from Chicago Teacher’s College and initially worked as an elementary school teacher before returning to acting in the mid-1960s. She performed in various productions at La MaMa Experimental Theatre Club in New York City. Mary Alice gained recognition for her roles such as Leticia ‘Lettie’ Bostic on NBC’s ‘A Different World’ and Effie Williams in the 1976 musical drama ‘Sparkle.’ She won a Tony Award for Best Featured Actress in a Play for her performance in the 1987 production of August Wilson’s ‘Fences,’ and an Emmy Award for Outstanding Supporting Actress in a Drama Series in 1993 for ‘I’ll Fly Away’. Her film credits include ‘The Education of Sonny Carson’, ‘Malcolm X’, ‘The Inkwell’, ‘Down in the Delta’, and ‘The Matrix Revolutions’. Mary Alice passed away on July 27, 2022, in Manhattan, New York City.

What Is Mary Alice Dorrance Malone’s Net Worth?

As of December 2024, Mary Alice Dorrance Malone’s net worth is estimated to be approximately $3.9 billion. This substantial wealth primarily originates from her significant holdings in the Campbell Soup Company. Malone inherited roughly one-third of the Campbell Soup Company after her father’s death in 1989, along with her two brothers. Her grandfather, John T. Dorrance, invented the condensed-soup formula that transformed the company in 1897.

Sources of Wealth and Assets

Malone’s primary income is derived from several sources. These include dividends from her shares in Campbell Soup, remuneration for her role as a board member, and revenues generated from her equestrian business, Iron Spring Farm. As the largest shareholder of the Campbell Soup Company, Malone plays a pivotal role in the company’s strategic planning and decision-making processes. Besides her stake in Campbell Soup, Malone’s assets include a sprawling estate in Pennsylvania, a luxury property in Barnegat Light, New Jersey, purchased in 2006, and the facilities associated with Iron Spring Farm, which has locations in Pennsylvania and Florida.

Campbell Soup Company and Family Legacy

Mary Alice Dorrance Malone is the granddaughter of John T. Dorrance, who revolutionized the Campbell Soup Company with his invention of condensed soup. She is the daughter of John T. “Jack” Dorrance Jr., the last family member to lead the Campbell Soup Company. Following her father’s death in 1989, Malone inherited a significant portion of the company, solidifying her role in the family’s legacy. She currently serves on Campbell Soup Company’s board, alongside her cousin Archbold van Beuren and her nephew Bennett Dorrance Jr., ensuring that the family’s influence remains integral to the company’s governance. The Dorrance family collectively owns more than a third of the global food giant, which generates more than $9 billion of annual revenue.

Iron Spring Farm and Equestrian Pursuits

Beyond her corporate responsibilities, Malone is deeply involved in the equestrian world. She presides over Iron Spring Farm, a premier horse breeding and training facility with locations in Pennsylvania and Florida. The farm is recognized for producing top-quality sport horses, contributing significantly to the equestrian community. Her establishment of Iron Spring Farm stands as a testament to her dedication to excellence in horse breeding and training.

Personal Life and Early Background

Born in 1949 or 1950, Mary Alice Dorrance Malone holds a bachelor’s degree from the University of Arizona. She was married to Stuart Malone and divorced in the mid-1990s. She has two children and resides in Coatesville, Pennsylvania. In 2009-2010, Malone was the target of an extortion attempt involving a tell-all book and movie about her personal life. This incident underscores the challenges that can accompany significant wealth and public profile.

Historical Net Worth Data

While current estimates place Mary Alice Dorrance Malone’s net worth at approximately $3.9 billion as of December 2024, it’s important to note that these figures can fluctuate. A Forbes article from 2006 listed her net worth at $1.7 billion. In May 2024, her net worth was reported as $3.7 billion. These changes reflect market conditions, investment performance, and other economic factors that can influence the value of her assets.

Board Membership and Company Influence

As a board member and the largest shareholder of Campbell Soup Company, Mary Alice Dorrance Malone is actively involved in the company’s decision-making processes and strategic planning. Her commitment to maintaining the company’s legacy while adapting to contemporary consumer preferences has been instrumental in its sustained success. She works alongside other family members, including her cousin and nephew, to guide the company’s direction.