How four Wisconsin women made Forbes' list of the richest self-made women in America
Four Wisconsin businesswomen were named to Forbes' 2023 list of the 100 richest self-made women in America, alongside international superstars like Taylor Swift, Kim Kardashian and Beyoncé.
Three of these four women who made their fortunes in Wisconsin are actually among the top 10 richest on the Forbes list. Wisconsin is the only state to have more than one woman in the top 10 this year and is represented in the number one and three spots.
ABC Supply co-founder Diane Hendricks is the richest self-made woman in America
Diane Hendricks, co-founder of the Beloit-based ABC Supply roofing and building supplies company, topped Forbes' list for the sixth year in a row, with an estimated net worth of $15 billion as of June 2023. Forbes also estimates that Hendricks is the 109th-richest billionaire in the world.
Today, ABC Supply is the largest wholesale distributor of roofing supplies and one of the largest distributors of siding and windows in North America. The company has over 900 branch locations and had $18.5 billion in revenue in 2022.
Hendricks founded ABC Supply in Beloit in 1982 with her late husband Ken. Since Ken's death in 2007, Hendricks has been the chair and sole owner of ABC Supply. Hendricks led ABC to making its two biggest acquisitions: buying rival Bradco Supply Corp. in 2010 and building material distributor L&W Supply for $670 million in 2016.
According to Forbes, Hendricks grew up on a Wisconsin farm as one of nine sisters and achieved a high school education. She sold custom homes for a builder before meeting Ken. Hendricks currently resides in Afton, and is a donor and advocate for conservative political causes.
Epic System founder and CEO Judy Faulkner is worth over $7 billion
Judy Faulkner, the founder and CEO of the Verona-based medical-record software provider Epic Systems, was named the third-richest self-made woman in America this year by Forbes. Faulkner's estimated net worth is at least $7.4 billion, making her the 302nd-richest billionaire in the world.
Epic had $4.6 billion in revenue in 2022. It currently supports the medical records of over 305 million patients and is used by top medical centers, including Johns Hopkins and Mayo Clinic. In 2022, hospitals using Epic's software held the medical records of 78% of U.S. patients.
Faulkner, a computer programmer with a master's degree in computer science for UW-Madison, founded Epic in a Madison basement in 1979 with just two assistants and $70,000. Today, the company employs over 13,000 people.
Faulkner currently resides in Madison. In 2014, she signed the Giving Pledge, agreeing to eventually donate 99% of her assets to charity.
Elizabeth Uihlein, president of Uline, is the ninth-richest self-made woman in America
Elizabeth Uihlein, president of the Uline shipping and packing supplies company in Pleasant Prairie, is the ninth-richest self-made woman in America this year. She was worth $3.7 billion as of June 2023. Although Uline is headquartered in Pleasant Prairie, Forbes lists Uihlein as being from Illinois, where her Lake Forest home is located.
Uline says it is North America's biggest distributor of shipping, packaging and industrial supplies. The company has 13 distribution center locations throughout the U.S., Canada and Mexico. Uline has over 9,000 employees and had $6.1 billion in revenue in 2022, Forbes reported. Uline sells more than 40,000 products via its 800-page catalog to businesses nationwide.
Uihlein started Uline with her husband, Dick, in their basement in 1980. Today, Uihlein is a vocal supporter of conservative political candidates and causes. Forbes reported that she and her husband are the fourth-biggest donors to U.S. political campaigns, reporting over $190 million in giving, according to FEC filings. The Uihleins spent over $40 million in the 2022 midterm elections supporting Republican candidates.
American Girl doll creator Pleasant Rowland is worth $350 million
Creator of the popular American Girl doll brand, Pleasant Rowland, is the 77th-richest self-made woman in America this year with an estimated net worth of $350 million. Rowland lives in Madison, and American Girl is based out of Middleton, a Madison suburb.
In 1986, Rowland founded the Pleasant Company, which manufactured American Girl dolls, books and accessories. A former teacher and textbook author, Rowland was inspired to create the American Girl dolls ― who each represent an American historical era ― by her love of history. Rowland built American Girl into a $300 million business and sold it to Mattel in 1998 for $700 million.
In the 2000s, Rowland used some of her fortune to restore more than ten historic properties in the town of Aurora in upstate New York, where she attended Wells College in the late 1950s and early 1960s. Her philanthropy work includes founding the Rowland Reading Foundation and, with her husband, a $250 million donation to build Madison's Overture Center for the Arts.
This article originally appeared on Milwaukee Journal Sentinel: Forbes 2023 richest women in America list includes four from Wisconsin
