Diane Hendricks: the good and the bad?

Diane Hendricks Is the Richest Self-Made Woman — How Did She Do It?

As the richest self-made woman according to 'Forbes,' Diane Hendricks has a lot going on. What’s her actual net worth? Here's how she made billions.

BY RACHEL CURRY

FEB. 24 2023, UPDATED 4:52 P.M. ET

SOURCE: ABC SUPPLY

In this article

• What is Diane Hendricks' net worth?
• How many times was Diane Hendricks named the richest self-made woman by 'Forbes'?
• Diane Hendricks is self made, but what does that mean?
• How did Diane Hendricks get rich?

A decade and a half after roofing billionaire Ken Hendricks fell through a roof and died, Forbes recognized Diane Hendricks as the richest self-made woman in the world for five years in a row. Despite losing her husband, Hendricks has gone on to amass a major fortune. So, just how rich is Diane Hendricks today?

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According to Forbes, a self-made woman didn't come from inherited wealth. Get the scoop on Hendricks’ net worth, plus how she made her fortune before and after her husband’s early death.

DIANE HENDRICKS

Founder of ABC Supply

Net worth: $12.2 billion

Diane Hendricks' wealth fluctuates, but Forbes has kept her in the number one spot of the world's richest self-made women for five years running as of 2022. The pandemic-era housing and constriction boom has propelled her roofing business to new heights.

Birthplace: Wisconsin

Birth year: 1947

Spouse: Ken Hendricks (died 2007)

Education: Osseo-Fairchild High School

Number of Children: 7

What is Diane Hendricks' net worth?

SOURCE: HENDRICKS FAMILY FOUNDATION

In 2012, Hendricks had an estimated net worth of $2.8 billion. In 2021, that number had ballooned to $11.1 billion. Today, it’s even higher. According to Forbes methodology, Hendricks has a self-made score of nine out of 10, meaning she is primarily self-made but circumstantially received a helping hand. As of February 2023, Hendricks is reportedly worth $12.2 billion.

How many times was Diane Hendricks named the richest self-made woman by 'Forbes'?

In its 2022 iteration of America’s Richest Self-Made Women list, Forbes has put Henricks at the top for the fifth year running. During that same year, Hendricks found company in other major players, including Reese Witherspoon, who sold her production company Hello Sunshine to a Blackstone-backed group last year.

Hendricks founded roofing and building materials company ABC Supply in 1982 with her late husband. She continues to reside in Wisconsin, her home state.

Diane Hendricks is self made, but what does that mean?

Hendricks was born in 1947 to a pair of dairy farmers. One of nine sisters in her family, she eventually earned a high school diploma and got married, but divorced her first husband and married Ken 10 years later. For Hendricks, what started as a career selling custom-built homes turned into a fast-growing business venture on the backs of two married people.

Hendricks and her late husband launched ABC Supply on their own lines of credit. Today, ABC Supply is the largest wholesale roofing distributor in the U.S. (and one of the leading siding distributors, too).

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How did Diane Hendricks get rich?

Hendricks isn't a stranger to the Forbes list of wealthiest self-made women, but her net worth has grown a lot in recent years. In addition to ABC Supply, Hendricks also owns Hendricks Holding Co., whose portfolio includes companies in transportation, recycling, industrial, real estate, healthcare, and other sectors.

As for the husband's wealth, he had a net worth of $3.5 billion when he passed away and was the 91st richest person in the U.S. However, he was notoriously thrifty and retained his midwestern values. Hendricks has seven children with her late husband.

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Despite leading a somewhat frugal lifestyle, Hendricks has been known to donate to Republican political campaigns, including Rep. Marjorie Taylor Greene, who incorrectly blamed the tampon shortage on transgender people.

Hendricks is also a philanthropist, supporting WisconsinEye, Beloit College, Stateline Boys & Girls Club, and more. She has poured a lot of money into Beloit, rebuilding entire blocks and bringing business into the state of Wisconsin, but maintains a philanthropy score of just one out of 10 according to Forbes.

The ABC Supply founder maintains her wealth despite past tax controversies, including failing to pay state income taxes for four years during the early 2010s. She also underpaid property taxes on a fraudulently assessed multi-million dollar home.

The above is from:  https://marketrealist.com/p/diane-hendricks-net-worth/

E-fuels the other answer to zero carbon producing cars

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Explainer: What are e-fuels, and can they help make cars CO2-free?

By Victoria Waldersee and Kate Abnett

March 22, 20233:10 AM CDTUpdated 6 months ago

Benz Group AG

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BERLIN/BRUSSELS, March 22 (Reuters) - Germany has declared last-minute opposition to a landmark European Union law to end sales of CO2-emitting cars in 2035, demanding that sales be allowed of new cars with internal combustion engines after that date if they run on e-fuels.

The EU rules would require all new cars sold from 2035 to have zero CO2 emissions, making it effectively impossible to sell new fossil fuel-powered cars.

The law - which Germany, alongside a majority of EU countries and lawmakers, previously supported - would not ban internal combustion engines (ICEs).

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But it is seen as a death knell for the technology because of a dearth of options that could enable ICE cars to operate without producing CO2.

Here's what you need to know.

WHAT ARE E-FUELS?

E-fuels, like e-kerosene, e-methane, or e-methanol, are made by synthesizing captured CO2 emissions and hydrogen produced using renewable or CO2-free electricity.

The fuels release CO2 into the atmosphere when used in an engine. But the idea is that those emissions are equal to the amount taken out of the atmosphere to produce the fuel - making it CO2-neutral overall.

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Germany and Italy want clearer assurances from the EU that sales of new ICE cars can continue beyond 2035, if they run on CO2-neutral fuels.

WHO MAKES THEM?

Most major carmakers are betting on battery-electric vehicles - a technology that is already widely available - as the main route to cut CO2 emissions from passenger cars.

But suppliers and oil majors defend e-fuels, as well as a number of carmakers who don't want their vehicles weighed down by heavy batteries.

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E-fuels are not yet produced at scale. The world's first commercial plant opened in Chile in 2021, backed by Porsche and aiming to produce 550 million litres per year. Other planned plants include Norway's Norsk e-Fuel, due to begin producing in 2024 with a focus on aviation fuel.

CAN E-FUELS CLEAN UP CARS?

E-fuels can be used in today's ICE vehicles and transported via existing fossil fuel logistics networks - good news for ICE component makers and companies which transport petrol and diesel.

Supporters say e-fuels offer a route to cut the CO2 emissions of our existing passenger car fleet, without replacing every vehicle with an electric one.

Critics highlight that manufacturing e-fuels is very expensive and energy-intensive. Using e-fuels in an ICE car requires about five times more renewable electricity than running a battery-electric vehicle, according to a 2021 paper in the Nature Climate Change journal.

Some policymakers also argue that e-fuels should be reserved for hard-to-decarbonise sectors such as shipping and aviation - which, unlike passenger cars, cannot easily run on electric batteries.

WHAT NEXT FOR THE EU LAW?

Days before the final vote on the EU law, which was scheduled for March 7, German Transport Minister Volker Wissing called into question Germany's support for it.

That has put one of Europe's core climate change policies on hold - and surprised other policymakers, because EU countries and lawmakers had already agreed the law last year.

Alongside Germany and Italy, countries including the Czech Republic and Poland have expressed concerns about the law, raising the possibility of enough support to block it.

But other EU lawmakers and diplomats warn that allowing one country to torpedo an already-agreed law would endanger other carefully negotiated deals on EU policies.

Free Democratic Party member Wissing said the use of e-fuels should remain possible after 2035, and a promised European Commission proposal on this was still missing.

In response, the European Commission has drafted a proposal, seen by Reuters, to allow carmakers to register new cars in the EU that can run on climate neutral e-fuels only. That could be a first step towards allowing their sale after 2035.

The draft proposal said vehicles must use technology that would prevent the car from starting if it used non-carbon-neutral fuels.

The International Council on Clean Transportation said it was doubtful technologies would be able to sense whether a vehicle is operating on pure e-fuels or a blend with fossil fuels - since e-fuels have very similar properties to the fossil fuels they are designed to replace.

An EU official told Reuters any new proposal would be made only after countries approve the combustion engine phaseout. Germany's Transport Ministry said it was examining the draft proposal.

WHAT DO COMPANIES WANT?

Big auto component suppliers in Germany such as Bosch, ZF and Mahle are members of the eFuel Alliance, an industry lobby group, as are oil and gas majors from ExxonMobil to Repsol.

Carmakers such as Piech, Porsche and Mazda are broadly supportive of the technology. Porsche holds a stake in e-fuel producer HIF Global.

BMW (BMWG.DE) has invested $12.5 million in e-fuel startup Prometheus Fuels, while also investing billions in battery-electric technology.

Other carmakers including Volkswagen (VOWG_p.DE) and Mercedes-Benz (MBGn.DE) are betting on battery-electric vehicles to decarbonise. Volvo and Ford this week urged EU countries not to row back on the 2035 phaseout of new

Above is from:   https://www.reuters.com/business/autos-transportation/what-are-e-fuels-can-they-help-make-cars-co2-free-2023-03-07/