Maine may be known for its coastal beauty, lobster industry, and peaceful living—but it’s also home to several multi-millionaires and quiet billionaires. The state attracts business magnates, heirs to legacy wealth, and real estate developers who value privacy, nature, and long-term investments.
Here are the Top 10 Richest People in Maine (2025), based on public records, financial publications, and corporate data.
1. Susan Alfond – $2.1 Billion
Source of Wealth: Inherited from Dexter Shoe sale to Berkshire Hathaway
Residence: Belgrade, ME
Susan Alfond is Maine’s richest resident. She inherited her fortune from her father, Harold Alfond, who sold Dexter Shoe Company to Warren Buffett’s Berkshire Hathaway in the 1990s. She is a major philanthropist and remains low-profile despite her billionaire status.
2. Leon Gorman (Estate & Family) – $1.6 Billion
Source of Wealth: L.L.Bean
Residence: Yarmouth, ME (legacy)
Grandson of L.L.Bean founder Leon Leonwood Bean, Leon Gorman served as CEO and later chairman of the company. His family still controls the privately owned L.L.Bean, Maine’s most iconic retail brand. Though Gorman passed in 2015, his family continues to thrive.
3. Stephen King – $600 Million
Source of Wealth: Novelist, Film & TV Adaptations
Residence: Bangor, ME
One of the world’s most successful authors, King has sold over 350 million books and earned massive royalties from countless film and television adaptations. He lives and writes in Bangor and is an active donor to local causes.
4. Bob Bahre (Estate & Family) – $480 Million
Source of Wealth: Auto Dealerships, Motorsports
Residence: Paris, ME
The late Bob Bahre founded multiple successful auto dealerships and co-owned the New Hampshire Motor Speedway. His estate and family holdings in real estate and motorsports continue to generate wealth.
5. Elizabeth Strout – $250 Million
Source of Wealth: Bestselling Novelist (Pulitzer Prize)
Residence: Brunswick, ME
A Pulitzer Prize-winning author, Strout is known for works like Olive Kitteridge and My Name Is Lucy Barton. Her literary and TV adaptation deals have earned her a sizable fortune and international acclaim.
6. Matthew Rubel – $230 Million
Source of Wealth: Fashion & Retail (Cole Haan, Payless)
Residence: Kennebunkport, ME
Rubel has led several major fashion brands including Cole Haan and Payless ShoeSource, and sits on multiple retail boards. He splits his time between Maine and NYC and invests in consumer growth companies.
7. Les Otten – $200 Million
Source of Wealth: Ski Resorts, Energy, Red Sox (Minor Stake)
Residence: Greenwood, ME
Otten built his wealth through the American Skiing Company and later investments in renewable energy and sports. He also held a minority stake in the Boston Red Sox and continues to develop ski and energy infrastructure in Maine.
8. Jonathan Ayers – $180 Million
Source of Wealth: Veterinary Tech (IDEXX Laboratories)
Residence: Falmouth, ME
A former CEO of IDEXX Laboratories, Ayers grew the company into a global leader in veterinary diagnostics. He retains a large equity stake and is involved in medical philanthropy after surviving a 2020 cycling accident.
9. Linda Bean – $150 Million
Source of Wealth: L.L.Bean Stake, Lobster Industry
Residence: Port Clyde, ME
Granddaughter of L.L. Bean, Linda has branched out with her lobster processing business, real estate, and local tourism. She also remains a shareholder and board influencer in the family’s retail empire.
10. Christopher “Kit” St. John – $120 Million
Source of Wealth: Legal Services, Philanthropy, Trust Management
Residence: Portland, ME
Founder of a major public policy legal center in Maine, St. John made his wealth through law and private investments. His family manages philanthropic trusts and sustainable economic development programs.
Summary Table
| Rank | Name | Net Worth (2025) | Source of Wealth | Residence |
|---|---|---|---|---|
| 1 | Susan Alfond | $2.1B | Dexter Shoe (Berkshire Hathaway) | Belgrade |
| 2 | Gorman Family | $1.6B | L.L.Bean | Yarmouth |
| 3 | Stephen King | $600M | Writing, Film/TV | Bangor |
| 4 | Bahre Family | $480M | Motorsports, Auto | Paris |
| 5 | Elizabeth Strout | $250M | Books, TV Rights | Brunswick |
| 6 | Matthew Rubel | $230M | Fashion/Retail | Kennebunkport |
| 7 | Les Otten | $200M | Ski Resorts, Energy | Greenwood |
| 8 | Jonathan Ayers | $180M | IDEXX Labs | Falmouth |
| 9 | Linda Bean | $150M | Lobster, Retail | Port Clyde |
| 10 | Kit St. John | $120M | Law, Philanthropy | Portland |
Final Thoughts
Maine’s richest residents reflect the state’s unique mix of entrepreneurial grit, inherited wealth, creative success, and sustainable industry leadership. While many keep a low profile, their influence spans retail, publishing, diagnostics, and local investment, shaping Maine’s economy and culture for decades.
