Latest news with #ABCSupply
Time of India
14-06-2025
- Business
- Time of India
Meet ‘America's richest self-made woman' who turned a small-town struggle into a $22.3 billion legacy
Source: Forbes Diane Hendricks is not only a businesswoman; she's a force of nature in the American business world. From humble beginnings on a rural Wisconsin dairy farm to being the wealthiest self-made woman in America, her story is one of grit, strategic mind, and stubborn persistence. Hendricks is now widely known as the founder and chairwoman of ABC Supply, a behemoth building materials distributor with more than 900 locations across the United States. But behind that name is a story of surviving personal adversity, living through tragedy, and creating one of America's most prosperous privately held businesses. America's richest self-made women Diane Hendricks's early life Born on March 2, 1947, in Mondovi, Wisconsin, and raised in the rural town of Osseo, Diane Hendricks was exposed to the rigidity of farm life. Her parents operated a dairy farm, where there was work every day. But her entry into adulthood was sooner than anticipated at only 17 years old, Diane became a single mother. This was the start of her resilience. To support herself, she worked in a factory in Janesville while finishing her schooling. Even with these financial struggles, she did graduate from Osseo-Fairchild High School in 1965. Her discipline and drive led her to get a real estate broker's license at age 21. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo With that, she began dealing in custom homes; a major stepping stone that would set the stage for future business pursuits. Diane Hendricks net worth 2025 and global ranking As of June 13, 2025, Diane Hendricks has a net worth of $22.3 billion , making her America's Richest Self-Made Woman and ranking #95 on the list of global billionaires, according to Forbes report. Her remarkable journey from rural Wisconsin to the top echelons of wealth worldwide is an example of her boundless energy and visionary vision. As chairwoman of ABC Supply, the largest privately owned wholesale distributor of building materials in the country, Hendricks built a local business into a national leader. Unlike much of the billionaire class, which amassed their wealth through inheritance, her money is all self-made and gained through aggressive business moves, large acquisitions, and a focus on expansion and innovation. America's richest self-made woman's real estate beginnings In the early 1970s, Diane met Ken Hendricks, a roofer turned entrepreneur and fellow go-getter. The pair married in 1975 and went on to start investing in real estate soon afterward. Their initial ventures were purchasing, rehabbing, and selling homes and industrial properties in Beloit, Wisconsin. The two weren't merely constructing buildings but building momentum. In 1982, they founded ABC Supply, a wholesale distributor of roofing, siding, and windows. From the beginning, the company specialized in offering higher-quality service to contractors, an underserved niche at the time. Diane performed much of the back-end management, strategy, and planning for expansion, while Ken contributed field experience and operations acumen. Together, they developed a business model that shook up the conventional supply chain of the building materials industry. How Diane transformed ABC supply after Ken's death It all changed in 2007 when Ken Hendricks was killed in a tragic accident. It was a personal loss and company turning point. Most assumed the business would fail but Diane had other plans. She assumed full responsibility at ABC Supply and guided it through with steady leadership. During the following decade and a half, Diane aggressively grew the company, making large acquisitions and technology improvements. In her single leadership, ABC Supply not only recovered but it soared. As of 2024, the firm had more than 900 branches throughout the U.S. with revenues in excess of $20 billion, ranking as one of the largest privately-held wholesale distributors in the country. America's richest women as political activist Aside from her business empire, Diane Hendricks is perhaps best recognized for her political activism. A dedicated conservative and staunch Republican ally, she has donated millions to political campaigns and causes. She has supported some of the most notable figures in politics, including Scott Walker, Paul Ryan, and Donald Trump. In 2024, Hendricks spoke at the Republican National Convention in Milwaukee, advocating for conservative principles and economic policies like Right to Work laws. Her political power reflects her business approach—brusque, forthright, and deeply embedded in her faith in individual enterprise. How Diane Hendricks became America's richest self-made woman 2025 Forbes labeled Diane Hendricks America's Richest Self-Made Woman in March 2025, focusing her spotlight as one of the greatest icons of self-made wealth. She also ranked in their Richest Person in Every State list, a title not frequently bestowed upon women, particularly in traditionally male fields such as construction and building materials. What makes Hendricks's wealth so impressive is that it wasn't inherited. Forbes assigned her a Self-Made Score of 9 out of 10, indicating that her financial empire was constructed nearly solely through individual effort, informed decision-making, and business risk-taking. Her background is the opposite of many billionaires who inherited their families' wealth or controlling stakes in large businesses. Also Read | Meet the London doctor who's 41 but biologically 24; here's his life longevity secrets revealed with 3 core supplements
Forbes
06-06-2025
- Business
- Forbes
Small Business Toolkit: Advice On Taxes, Business Structure, Funding And More
New and threatened tariffs. Expiring tax breaks. Tighter lending rules at the Small Business Administration (SBA). Small business owners face lots of challenges and uncertainty these days. But then, starting and running a small business has always been tough. And yet, small businesses remain the mainstay of the U.S. economy, creating jobs, millionaires, and in some cases, big companies and billionaires. Diane Hendricks, #1 on Forbes' new list of America's Richest Self-Made Women, with a net worth of $22.5 billion, started a roofing supply business with her late husband, Ken, in Wisconsin in 1982. Under her watch, ABC Supply, which she owns and has chaired since Ken's death in 2007, has grown to more than 900 branch locations and $20 billion in sales. Peter Cancro started making sandwiches at a Jersey Shore sandwich shop in 1971 at the age of 14, bought out the owner before his high school graduation, and built Jersey Mike's into a chain with more than 3,000 locations, before finally selling a majority stake this year to private equity firm Blackstone. He's now worth $4.9 billion. Today, the U.S. has more than 33 million small businesses, employing nearly 62 million Americans, some 46% of private sector employees. According to the SBA, from 1995 to 2021, small businesses created 17.3 million net new jobs, accounting for 63% of the net jobs created during this period. Underlying that impressive net job growth number, however, are millions of small business births and closures. About one in five of all small businesses fail in their first year and one in two succumb in the first five years. This new Forbes Small Business Toolkit aims to help you beat the odds, with information on choosing the right entity, assembling your professional team, filing and paying taxes on time, managing small business loans, and more. Despite the drama in Washington, some of these business basics won't change. But some will change–so we intend to keep the Toolkit updated, with developments business owners are likely too busy to track on their own. Small businesses have faced greater-than-normal challenges in recent months as they struggle to navigate President Trump's tariffs and tax proposals. The threat of tariffs (and tariffs already imposed) have already resulted in higher expenses and supply chain disruptions for some small businesses. And more are likely coming. Since tariffs are paid for by U.S. companies that import goods and materials, many small businesses will have to pay more for what they buy, yet may not be able to pass along the full cost increases to customers. The most recent National Federation of Independent Business Small Business Optimism Index shows retailers, in particular, have had their enthusiasm curbed by tariffs. The Republican tax bill, as passed last month by the House, included some wins for small businesses. It restored expensing and made the existing Section 199A deduction for small businesses that pass through their profits to the owner's tax return (S corps, partnerships and the self-employed) permanent and more generous. But those hoping that a business-friendly Senate might push even further by lowering corporate tax rates, too, likely won't get their wish. The cost of the bill (and how it increases the federal deficit and debt) may mean we'll see less, not more, tax relief for businesses, as it makes its way through the Senate and the reconciliation process. Adding to the uncertainty, interest rates and other costs remain high, making borrowing tricky at a time when assistance from federal agencies like the SBA has been reduced (the agency has announced plans to reduce its workforce by 43%) and loan guarantee rules tightened. Reduced staffing at the IRS (the agency expects to lose at least 20,000 employees) means there are fewer representatives available to answer the phones and help resolve tax disputes—some of those tax issues, like liens, can paralyze a small business if not resolved in a timely manner. There are some bright spots. Earlier this year, the Treasury Department walked back most of the Corporate Transparency Act (CTA), limiting its scope to foreign companies. Before the revision, an estimated 32.6 million companies were potentially subject to reporting requirements, with significant penalties for noncompliance. The administration has also signaled that more regulatory rollback is coming, though businesses aren't yet sure what that might look like. With so much uncertainty—and more changes on the way—we suggest bookmarking this Toolkit and checking back for our updates.
Fox Sports
03-06-2025
- Business
- Fox Sports
ABC Supply, AJ Foyt Racing Help Raise $4.7 Million for Injured Veterans
INDYCAR Indy 500 Spotlight Fuels Support for Homes For Our Troops ABC Supply Co., Inc., has announced that $4.7 million was raised for Homes For Our Troops (HFOT) as part of a significant fundraising effort in May for National Military Appreciation Month and in conjunction with the 109th Running of the Indianapolis 500 presented by Gainbridge. ABC Supply, an HFOT Platinum Partner, matched all donations up to $1 million during May. ABC Supply has a longstanding partnership with AJ Foyt Racing, which fields two cars in the NTT INDYCAR SERIES. Several HFOT veterans took part in Race Weekend's thrilling activities at Indianapolis Motor Speedway. They received exclusive access to a garage tour of the No. 14 AJ Foyt Racing Chevrolet driven by Santino Ferrucci, walked the iconic Yard of Bricks and enjoyed a premier view of the stars-and-stripes-clad HFOT car racing to an impressive fifth-place finish by Ferrucci. The largest television audience since 2008 also watched the '500' and saw the patriotic livery on FOX. "We are beyond grateful for ABC Supply's sponsorship and support during the 2025 Indy 500," HFOT President/CEO Brig. Gen. USA (Ret) Tom Landwermeyer. "Their generous $1 million match was instrumental to raising $4.7 million during the month of May, and the patriotic livery of the No. 14 AJ Foyt Racing Chevy gave incredible visibility to our mission of Building Homes and Rebuilding Lives." ABC Supply has ardently supported HFOT since 2020 and donated the design of the INDYCAR SERIES car to generate awareness of the organization's mission of building and donating specially adapted custom homes nationwide for severely injured post-9/11 veterans, enabling them to rebuild their lives. HFOT has built over 410 specially adapted homes since its inception in 2004. 'Giving back to the community and honoring our veterans is at the heart of who we are,' said Mike Jost, president and chief operating officer at ABC Supply. 'The generosity we've seen throughout this campaign has been truly inspiring, and we are grateful to everyone who contributed to making a real difference for our veterans.' Said Ferrucci: 'It was an honor to drive the Homes For Our Troops car in the Indianapolis 500 and extremely rewarding to know that they not only met their goal but exceeded it – again. Raising over $4 million is incredible, and it will help a lot of our severely injured post-911 veterans. 'Those funds will go a very long way in building multiple houses for them, helping them financially and getting their lives back on track. At the end of the day, AJ Foyt Racing had a great Indianapolis 500, and Homes For Our Troops had an amazing one, as well.' Those who missed the donation matching window but would still like to support HFOT are encouraged to do so at recommended
Yahoo
03-06-2025
- Business
- Yahoo
ABC Supply Supports Veterans: $4.7 Million Raised for Homes For Our Troops
In a bold display of American pride, ABC Supply backed AJ Foyt Racing's red, white and blue No. 14 Chevy driven by Santino Ferrucci at the iconic Indy 500 BELOIT, Wis., June 3, 2025 /PRNewswire/ -- ABC Supply Co., Inc. is proud to announce that its monthlong fundraising campaign, in partnership with AJ Foyt Racing at the 109th running of the Indianapolis 500 presented by Gainbridge, raised an impressive $4.7 million for Homes For Our Troops (HFOT). As part of its commitment to supporting our nation's Veterans, ABC Supply matched the first $1 million donations, helping surpass the $4 million goal. "Giving back to the community and honoring our Veterans is at the heart of who we are," said Mike Jost, president and chief operating officer at ABC Supply. "The generosity we've seen throughout this campaign has been truly inspiring, and we are grateful to everyone who contributed to making a real difference for our Veterans." Since 2020, ABC Supply has proudly been a Platinum National Partner of Homes For Our Troops, a nonprofit organization that builds and donates custom, specially adapted homes for severely injured post-9/11 Veterans. Since its founding in 2004, HFOT has constructed over 400 specially adapted homes, helping Veterans and their families rebuild their lives. "We are beyond grateful for ABC Supply's sponsorship and support during the 2025 Indy 500," says HFOT President/CEO Brigadier General, USA (Ret) Tom Landwermeyer. "Their generous $1 million match was instrumental to raising over $4 million during the month of May, and the patriotic livery of the No. 14 AJ Foyt Racing Chevy gave incredible visibility to our mission of Building Homes and Rebuilding Lives." For the fourth year in a row, ABC Supply led its monthlong fundraising campaign and proudly sponsored the striking red, white and blue livery of AJ Foyt Racing's No. 14 Chevy. Driven by Santino Ferrucci, the patriotic powerhouse delivered an impressive fifth-place finish at this year's Indianapolis 500. "It was an honor to drive the Homes For Our Troops car in the Indianapolis 500 and extremely rewarding to know that they not only met their goal but exceeded it—again! Raising over four million dollars is incredible, and it will help a lot of our severely injured post-911 Veterans," says driver Santino Ferrucci. "Those funds will go a very long way in building multiple houses for them, helping them financially and getting their lives back on track. At the end of the day, AJ Foyt Racing had a great Indianapolis 500 and Homes For Our Troops had an amazing one as well!" To support Homes For Our Troops and learn more about its mission, visit About A.J. Foyt RacingAJ Foyt Racing, headquartered northwest of Houston, has been competing at the top levels of motorsports since December 1965, nearly 60 years. With A.J. Foyt driving, his team won two Indianapolis 500s and three national INDYCAR championships. Since Foyt's retirement from driving in 1993, the team has continued to win, claiming two more national titles and the 1999 Indianapolis 500 with driver Kenny Brack. For more information, visit Homes For Our Troops (HFOT)Homes For Our Troops (HFOT) is a publicly funded 501(c)(3) nonprofit organization that builds and donates specially adapted custom homes nationwide to severely injured post-9/11 Veterans, to enable them to rebuild their lives. Most of these Veterans have sustained life-altering injuries, including multiple limb amputations, partial or full paralysis, and/or severe traumatic brain injury (TBI). These homes restore some of the freedom and independence our Veterans sacrificed while defending our country, and enable them to focus on their family, recovery, and rebuilding their lives. HFOT builds these homes where the Veteran chooses to live, and continues its relationship with the Veterans after home delivery to assist them with rebuilding their lives. Since its inception in 2004, nearly 90 cents of every dollar spent has gone directly to our program services supporting Veterans. For more information, visit About ABC SupplyABC Supply Co., Inc. is the largest wholesale distributor of roofing and other select exterior and interior building products in North America. Since its founding in 1982, ABC Supply's sole focus has been serving professional contractors and "making it easy" for them to do their jobs by offering the products, support and services they need — including myABCsupply, which allows them to place material orders and manage their account details from anywhere. ABC Supply is a 19-time Gallup Exceptional Workplace Award winner and a two-time recipient of Glassdoor's Employees' Choice Award for Best Places to Work and is committed to hiring military Veterans. Headquartered in Beloit, Wisconsin, ABC Supply has over 1,000 locations across the U.S. and Canada. More information is available at Contractors can find resources for growing and improving their businesses on ABC Supply's blog and the company's LinkedIn page. View original content to download multimedia: SOURCE ABC Supply Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
ABC Supply Supports Veterans: $4.7 Million Raised for Homes For Our Troops
In a bold display of American pride, ABC Supply backed AJ Foyt Racing's red, white and blue No. 14 Chevy driven by Santino Ferrucci at the iconic Indy 500 BELOIT, Wis., June 3, 2025 /PRNewswire/ -- ABC Supply Co., Inc. is proud to announce that its monthlong fundraising campaign, in partnership with AJ Foyt Racing at the 109th running of the Indianapolis 500 presented by Gainbridge, raised an impressive $4.7 million for Homes For Our Troops (HFOT). As part of its commitment to supporting our nation's Veterans, ABC Supply matched the first $1 million donations, helping surpass the $4 million goal. "Giving back to the community and honoring our Veterans is at the heart of who we are," said Mike Jost, president and chief operating officer at ABC Supply. "The generosity we've seen throughout this campaign has been truly inspiring, and we are grateful to everyone who contributed to making a real difference for our Veterans." Since 2020, ABC Supply has proudly been a Platinum National Partner of Homes For Our Troops, a nonprofit organization that builds and donates custom, specially adapted homes for severely injured post-9/11 Veterans. Since its founding in 2004, HFOT has constructed over 400 specially adapted homes, helping Veterans and their families rebuild their lives. "We are beyond grateful for ABC Supply's sponsorship and support during the 2025 Indy 500," says HFOT President/CEO Brigadier General, USA (Ret) Tom Landwermeyer. "Their generous $1 million match was instrumental to raising over $4 million during the month of May, and the patriotic livery of the No. 14 AJ Foyt Racing Chevy gave incredible visibility to our mission of Building Homes and Rebuilding Lives." For the fourth year in a row, ABC Supply led its monthlong fundraising campaign and proudly sponsored the striking red, white and blue livery of AJ Foyt Racing's No. 14 Chevy. Driven by Santino Ferrucci, the patriotic powerhouse delivered an impressive fifth-place finish at this year's Indianapolis 500. "It was an honor to drive the Homes For Our Troops car in the Indianapolis 500 and extremely rewarding to know that they not only met their goal but exceeded it—again! Raising over four million dollars is incredible, and it will help a lot of our severely injured post-911 Veterans," says driver Santino Ferrucci. "Those funds will go a very long way in building multiple houses for them, helping them financially and getting their lives back on track. At the end of the day, AJ Foyt Racing had a great Indianapolis 500 and Homes For Our Troops had an amazing one as well!" To support Homes For Our Troops and learn more about its mission, visit About A.J. Foyt RacingAJ Foyt Racing, headquartered northwest of Houston, has been competing at the top levels of motorsports since December 1965, nearly 60 years. With A.J. Foyt driving, his team won two Indianapolis 500s and three national INDYCAR championships. Since Foyt's retirement from driving in 1993, the team has continued to win, claiming two more national titles and the 1999 Indianapolis 500 with driver Kenny Brack. For more information, visit Homes For Our Troops (HFOT)Homes For Our Troops (HFOT) is a publicly funded 501(c)(3) nonprofit organization that builds and donates specially adapted custom homes nationwide to severely injured post-9/11 Veterans, to enable them to rebuild their lives. Most of these Veterans have sustained life-altering injuries, including multiple limb amputations, partial or full paralysis, and/or severe traumatic brain injury (TBI). These homes restore some of the freedom and independence our Veterans sacrificed while defending our country, and enable them to focus on their family, recovery, and rebuilding their lives. HFOT builds these homes where the Veteran chooses to live, and continues its relationship with the Veterans after home delivery to assist them with rebuilding their lives. Since its inception in 2004, nearly 90 cents of every dollar spent has gone directly to our program services supporting Veterans. For more information, visit About ABC SupplyABC Supply Co., Inc. is the largest wholesale distributor of roofing and other select exterior and interior building products in North America. Since its founding in 1982, ABC Supply's sole focus has been serving professional contractors and "making it easy" for them to do their jobs by offering the products, support and services they need — including myABCsupply, which allows them to place material orders and manage their account details from anywhere. ABC Supply is a 19-time Gallup Exceptional Workplace Award winner and a two-time recipient of Glassdoor's Employees' Choice Award for Best Places to Work and is committed to hiring military Veterans. Headquartered in Beloit, Wisconsin, ABC Supply has over 1,000 locations across the U.S. and Canada. More information is available at Contractors can find resources for growing and improving their businesses on ABC Supply's blog and the company's LinkedIn page. View original content to download multimedia: SOURCE ABC Supply Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
