Billionaire Diane Hendricks: How She Became America’s Richest Self-Made Woman

==========

Diane Hendricks is the richest self-made woman in America with a net worth of $20.9 billion. She is the chair of ABC Supply, a wholesale distributor of roofing, siding, and windows. Hendricks co-founded the company with her late husband in 1982. Under her leadership, ABC Supply made significant acquisitions, including rival Bradco in 2010 and building materials distributor L&W Supply in 2016. The company now has over 900 branch locations and generated $18.5 billion in annual revenue as of 2022. Before founding ABC Supply, Hendricks and her husband made their living through rental properties. They purchased and renovated 200 older homes, renting them out to college students. ABC Supply started with the purchase of two struggling building supply stores and focused on providing exceptional customer service. Within five years, the company had 50 stores and made about $140 million in sales. During the Great Recession, when the real estate market collapsed, Hendricks seized the opportunity to acquire rival Bradco at fire-sale prices. She took on a big risk by giving up 40% of her stake in ABC, but was able to buy it back within four years. Hendricks' success is attributed to her willingness to get her hands dirty, her focus on customer service, and her ability to find opportunities in downswings.

#DianeHendricks #AbcSupply #SelfmadeWoman #Wealth

https://finance.yahoo.com/news/billionaire-diane-hendricks-she-became-140008353.html