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What is Diane Hendricks’ Net Worth?
Diane Hendricks, a prominent American businesswoman and the chairperson of ABC Supply, has an estimated net worth of $20.9 billion, making her the richest self-made woman in the United States. This substantial wealth is primarily derived from her ownership of ABC Supply, the largest wholesale distributor of roofing materials in the country, which she co-founded with her late husband, Ken Hendricks, in 1982.
In 2012, Forbes estimated her net worth at $2.8 billion, which increased to $11.1 billion by August 2021. The rapid expansion of ABC Supply, which reported revenues of $20.4 billion in 2021 and operates over 900 branch locations, has been a significant contributor to her wealth.
In addition, Hendricks owns 100% of the company, further consolidating her financial standing.
Despite her immense success, Hendricks’ financial practices have not been without controversy. Reports surfaced that she paid no state income tax in four of the five years from 2010 to 2014, a situation attributed to the company’s tax restructuring from a C-corp to an S-corp during those years.
Here’s the breakdown of Diane Hendricks’ net worth:
Name: | Diane Hendricks |
Net Worth: | $20.9 Billion |
Date of Birth: | March 2, 1947 |
Profession: | Film Producer, Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Diane Marie Hendricks, born Diane Marie Smith on March 2, 1947, in Mondovi, Wisconsin, grew up on a dairy farm in Osseo, Wisconsin. Her upbringing on the farm instilled a strong work ethic that would later become a cornerstone of her business success. At the age of 17, she became a mother, which added to her responsibilities and shaped her determination to succeed.
After graduating from Osseo-Fairchild High School in 1965, she worked various jobs, including as a Playboy Bunny, to support herself and her child.
Her early life was marked by resilience and a relentless pursuit of better opportunities, which eventually led her to the real estate business where she met her future husband and business partner, Ken Hendricks.
ABC Supply
In 1982, Diane and Ken Hendricks co-founded ABC Supply Co., Inc., a building products distributor, in Beloit, Wisconsin. The company was established to address a gap in the market for a reliable distributor of roofing materials.
Under their leadership, ABC Supply grew rapidly, becoming the largest wholesale distributor of roofing materials in the United States. The company expanded its product line to include siding, windows, and other building materials.
After Ken’s tragic death in 2007, Diane took over as the sole owner and chairman, steering the company through significant acquisitions, including Bradco in 2010 and L&W Supply in 2016.
Today, ABC Supply operates over 900 locations and employs more than 17,000 associates, with annual revenues exceeding $20 billion.
Hendricks Holding
In addition to her role at ABC Supply, Diane Hendricks is the chairman of Hendricks Holding Company, Inc. (HHC), a private investment firm she co-founded with her late husband in 2001.
HHC oversees a diverse portfolio of businesses across various industries, including manufacturing, distribution, real estate development, construction, recycling, and life sciences.
The company’s investments reflect Diane’s entrepreneurial spirit and commitment to supporting businesses that embody the American dream. HHC’s portfolio includes companies like NorthStar Medical Technologies, a leader in medical radioisotope production, and numerous real estate ventures that have revitalized downtown Beloit and other areas.
Film Producing
Beyond her business ventures, Diane Hendricks has also made a mark in the film industry as an executive producer. She has been involved in producing several films, including “The Stoning of Soraya M.” (2008), a critically acclaimed drama about an execution in an Iranian village, “An American Carol” (2008), and “Snowmen” (2010).
Her work in film production showcases her diverse interests and her ability to succeed in various fields. These projects reflect her commitment to storytelling and her willingness to invest in meaningful and impactful narratives.
Philanthropy
Diane Hendricks is well-known for her philanthropic efforts, particularly in her home state of Wisconsin. She has made substantial contributions to education, healthcare, and community development. One of her most notable donations was a $10 million gift to Beloit College, which funded the construction of the Hendricks Center for the Arts.
In addition, she has supported various local initiatives, including the Beloit Memorial High School and the Beloit Health System. Her philanthropy extends to national causes as well, with significant donations to organizations such as the Boys & Girls Clubs of America and the American Red Cross.
Political Donations
Diane Hendricks is also a prominent political donor, primarily supporting Republican candidates and conservative causes. She has contributed millions of dollars to political campaigns and Super PACs over the years.
Notably, she was a major donor to Scott Walker’s gubernatorial campaigns in Wisconsin and has supported other high-profile Republican figures, including Donald Trump.
Personal Life
Diane Hendricks was married to Ken Hendricks until his untimely death in 2007, and together they raised seven children. Despite the challenges she faced, including becoming a mother at a young age and losing her husband, Hendricks has remained steadfast in her pursuits.
She resides in Afton, Wisconsin, where she continues to oversee her business ventures and philanthropic activities. Hendricks is known for her low-profile lifestyle, preferring to focus on her work and contributions rather than seeking public attention.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.