A self-made woman from America, who grew up on a dairy farm, now has a net worth of $20.9 billion.

In her childhood, Diane Hendricks, who grew up on a dairy farm in Osseo, Wisconsin, envisioned herself dressed in suits, driving fancy cars, and working in an urban setting.

The 77-year-old's net worth has increased by nearly double in two years, making her the wealthiest self-made woman in America for the seventh year in a row, with an estimated net worth of $20.9 billion.

The majority of her wealth comes from her roofing supplies business, ABC Supply. Hendricks founded the Beloit, Wisconsin-based company with her late husband in 1982 and currently serves as its chairwoman. The company's website states that she owns 100% of the company.

Last year, Forbes reported that ABC Supply generated $20.4 billion in revenue and has over 900 branches.

A farm-grown work ethic

At 10 years old, Hendricks envisioned herself as an independent individual with a blue suit and a nice car, rather than being a farmer or marrying one.

Watching her parents work on the farm inspired Hendricks to dream of a career of her own, she said. However, at age 17, she got pregnant and had to finish her senior year of high school while living at home.

She divorced her high school sweetheart three years later and, as a single mother, worked odd jobs, including as a Playboy Bunny waitress, while building a real estate career.

Hendricks stated, "It was then that I truly began to consider a career, one I had always aspired to have, which involved being in business."

In the 1970s, after meeting and marrying roof contractor Ken Hendricks, the couple established ABC Supply. The company achieved its first $1 billion in annual sales in 1998, as per its website.

Controversies and contributions

Controversy has surrounded the success of Hendricks, who topped the America's Richest Self-Made Women list in 2016. The Milwaukee Journal Sentinel reported that she did not pay any state income tax from 2012 to 2014 and did not owe any money in state taxes in 2010.

In 2022, ABC Supply tax director Scott Bianchini informed CNBC Make It that the company had changed its tax classification from a C-corp to an S-corp during those years. Under Wisconsin state law, corporations can choose to be S-corps on a federal level and C-corps on a state level, meaning ABC Supply could opt out of state tax-option status if all of its federal taxes were paid off, potentially including any checks made out from the company to Hendricks.

Despite being situated near Beloit, which boasts a population of less than 37,000 residents, Hendricks has made significant investments in the town's historic buildings, older businesses, and local projects, totaling millions of dollars.

In 2017, Hendricks established a local career center to provide skill workshops for middle and high school students, focusing on topics such as coding and construction. The program aimed to demonstrate the importance of employment to teenagers, as she stated in a Forbes interview.

"Welding jobs are really good jobs, and they can pay up to $50,000 a year," Hendricks said. "Children often wonder how welders do their jobs, but they can learn this skill through vocational school."

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