It's official. Forbes has named the richest self-made woman and it just so happens that she lives in Afton, Wisconsin. Her name? Her name is Diane Hendricks, Co-founder, and Chairman, of ABC Supply.
This coveted list is brimming with female celebrities, moguls, and even a Little Caesars Pizza self-made entrepreneur.
Notably, Forbes released the list of the richest self-made women and start their article by reporting that "The U.S. stock market this spring pushed down the combined net worth of the nation’s richest self-made women to $111 billion, a 6% drop from last year; it also helped lower the admission cutoff to Forbes’ eighth annual list of these trailblazers to $215 million, down from $225 million a year ago. Thirty-eight of the 100 on this list are worth less than in 2021, but 51 are richer, including seven newcomers and seven who return to the ranks after having previously fallen off. Among the notable new faces: movie star Sandra Bullock, recurring Shark Tank judge Emma Grede and Daily Harvest founder Rachel Drori."
Who is Diane Hendricks?
Diane Hendricks is not just an Afton, Wisconsin native, she chairs ABC Supply, one of the largest wholesale distributors of roofing, siding, and windows in America.
Her late husband, Ken, a former roofer, and herself founded the company in Beloit. The company was set up in 1982 and he co-led it alongside her until his death in 2007.
Forbes reports that "She led ABC to make the two biggest acquisitions in its history, buying rival Bradco in 2010 and building materials distributor L&W Supply in 2016."
If you've ever seen an ABC Supply store, you're not alone. There are around 800 branch locations of this company and they did nearly $15 billion in 2021 revenues.
Hendricks could be considered quite the trailblazer for economic development. Reportedly, she has spent millions on local economic development, rebuilding entire blocks in Beloit and bringing in several new businesses to the state.
She's currently 75 years old and is also number 183 on the Forbes 2022 Billionaires list. Her Forbes profile lists that she has 7 children and a high school diploma as her highest level of education. It just goes to show that education and degrees don't necessarily predict success or wealth. In fact, allegedly, Hendricks grew up as one of nine sisters on a dairy farm.
The ABC Supply website lists under their mission and vision the following statement, " Since 1982, we have become the country’s largest wholesale distributor of roofing supplies and one of the largest of siding, windows and other select exterior and interior building products, tools and related supplies.
Our mission and values were developed with the understanding that this is ultimately not about us—never has been and never will be. Instead, it’s about empowering our associates to serve the real-world business needs of contractors like you."
Afton residents, do you happen to know Henricks? Do you shop at ABC Supply? Let us know in the comments!