Ted Alfond was born to a Jewish family, the son of Dorothy (nee Levine) and Harold Alfond. His Father founded the Dexter Shoe Company in 1958 and sold it in 1995 for $433 million of Berkshire Hathaway stock. When his Father died in 2007, he left his shares in Berkshire Hathaway to his four children, Ted, Susan, Bill, and Peter, who are now all billionaires. In 1968, he graduated from Rollins College and after school, he worked as Executive Vice President of Dexter Shoe Company. He is a part owner of the Boston Red Sox
