Hendricks is the chairman and sole owner of ABC Supply, the largest wholesale distributor of roofing materials in the US. The Beloit, Wisconsin-based company sells shingles, soffits and gutters, and had sales revenue of $20.7 billion in 2024. She also has investments in trucking, insurance, manufacturing and recycling.
Hendricks's fortune is derived from her sole ownership of ABC Supply, the largest wholesale distributor of roofing materials in the U.S., according to its website. She founded the Beloit, Wisconsin-based business with her husband Ken in 1982. He died in 2007, and she became ABC's sole owner in 2013 after buying minority stakes from Advent International, Apollo Global Management and Bradco Supply for about $1.4 billion, according to Moody's Investors Service.
ABC had sales of $20.7 billion in 2024, according to the company's website. It's valued using the average enterprise value-to-sales and price-to-sales multiples of two publicly traded peers: Builders FirstSource Inc and Owens Corning.
She also controls Hendricks Holding Company, a closely held entity that owns companies involved in trucking, insurance, manufacturing and recycling. These aren't included because the revenues couldn't be confirmed.
Katie Goodale, a spokeswoman for ABC Supply, didn't respond to requests for comment on the net worth calculation.
Diane Hendricks was born in 1947 and grew up with eight sisters on a small dairy farm in Wisconsin. She married her husband and business partner Ken Hendricks in 1975. The couple bought dozens of homes in the Beloit, Wisconsin, area and continued to invest in real estate as they prepared to enter the wholesale roofing distribution business. They opened the first ABC Supply store in Beloit in 1982, followed by three additional locations in the Midwest. Today the company has more than 800 locations in the United States and is the largest wholesale distributor of roofing products in the country.
Diane and Ken Hendricks founded Hendricks Holding Co. in 2001 to manage their private equity investments, which include companies involved in trucking, insurance, pharmaceuticals, manufacturing and recycling. Diane Hendricks serves as chairman.
Ken Hendricks died in 2007 after falling from a construction site at his home in Afton, Wisconsin. He was 66. ABC Supply appointed president David Luck to succeed him as chief executive officer. The company acquired one of its biggest competitors, Bradco Supply Corp., in 2010. Three years later Hendricks bought out ABC's remaining minority shareholders. She controls all of the shares and is a member of its board of directors.
Hendricks supports economic development and education in Wisconsin and sits on the Republican National Committee. She donated $500,000 to Wisconsin governor Scott Walker's 2012 re-election campaign, setting the state record for the largest donation given to a gubernatorial candidate.
In addition to ABC Supply and Hendricks Holding Company, Hendricks has served on the boards of a number of Wisconsin-based organizations, including Forward Janesville, Beloit College, and the Hendricks Family Foundation. She's also an underwriter of Wisconsin Eye Public Affairs Network, the first privately funded state public affairs network.