Mary Alice Dorrance Malone, a Coatesville resident and the billionaire lead shareholder of Campbell Soup, died on June 16 at the age of 75, writes Ryan Mulligan for the Philadelphia Business Journal.
Malone, who also maintained a residence in Florida, was Campbell Soup’s longest-serving board member, with a tenure of 35 years.
She regularly appeared in rankings of the Philadelphia region’s wealthiest, with Forbes valuing her fortune at $4.1 billion in its latest report.
Her grandfather, John T. Dorrance, invented condensed soup. She served on the board of directors of the company he founded starting in 1990.
Malone held 53.3 million Campbell Soup shares at the end of fiscal 2024, or almost 18 percent of all outstanding stock in the company.
“As a descendent of the company’s founder and a significant long-term shareholder, her contributions to grow and protect Campbell’s legacy were immeasurable,” said Campbell Soup’s board chair Keith R. McLoughlin.
Malone also served as president of Iron Spring Farm horse breeding centers in Pennsylvania and Florida. She established the center in 1976 and also founded The Roemer Foundation, a nonprofit charitable organization.
Read more about Mary Alice Dorrance Malone’s legacy and her involvement with one of the largest soup brands in the Philadelphia Business Journal.
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