How Richest Self-Made Woman Hit It Big on Rise to $22B Fortune
With a net worth over $22 billion, Diane Hendricks co-founded ABC Supply, a wholesale distributor of roofing, siding and windows, in 1982 alongside her late husband. Under Hendricks' leadership, the company made the two biggest acquisitions in its history, buying rival Bradco in 2010 and building materials distributor L&W Supply in 2016, granting her the title of richest self-made woman in America at the time, according to Forbes.
ABC Supply now has over 1,000 branch locations and brought in between $20 billion and $21 billion in annual revenue as of 2025. How did Hendricks build such a successful company for the ground up? Read on to explore her humble beginnings and money moves that landed her such a distinguished title.
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Getting Her Hands Dirty
Before founding ABC Supply, Hendricks and her husband Ken, a roofing contractor, made their living through rental properties. The couple purchased 200 older homes over three years, renovated them and began renting them out to college students.
"I cleaned a lot of toilets," she told Forbes in a 2022 interview.
Customer Service Prevails
Hendricks and her husband started ABC Supply with the purchase of two struggling building supply stores. Their plan was to buy supplies directly from manufacturers and sell to contractors. According to Forbes, "the secret sauce was providing an unheard-of level of customer service in a notoriously unfriendly industry."
The idea paid off -- within five years, ABC had 50 stores and had made about $140 million in sales.
Opportunities Amid Downswings
When the real estate market collapsed during the Great Recession, so did business for ABC Supply. From 2006 to 2009, the company's sales declined 7%, Forbes reported. Instead of throwing in the towel, Hendricks looked for new opportunities and took advantage of fire-sale prices to acquire rival Bradco in 2010.
The acquisition required taking on a big risk -- Hendricks gave up 40% of her stake in ABC to a backer on the condition that she could buy it back within five years.
"I still get shivers right now because I felt that I had risked the company that I wanted my children to run," she told Forbes. "It's not a company that's ever going to be for sale."
Fortunately, the risk paid off and she was able to buy back her stake within four years. From there, the rest is history.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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