MILWAUKEE — John Menard Jr., the founder of the Wisconsin home improvement store, is still the state's richest person, worth $22.5 billion, according to the Forbes 400 list of America’s Richest people.
But the state's longtime top richest person is losing his lead, per the Forbes list.
Wisconsin-based ABC Supply Co.'s Diane Hendricks grew her worth to $19.3 billion. That's just $3.2 billion less than Menard Jr.
83-year-old Menard founded his company in Eau Claire and now has more than 300 stores across the country.
76-year-old Hendricks is co-founder and owner of ABC Supply Co. Inc., a building products distributor based in Beloit.
Menard and Hendricks are a bit ahead of the other billionaires in Wisconsin.
Judy Faulkner, owner of Epic Systems Corp. in Verona, is the third-richest person in Wisconsin, worth $7.4 billion. She's followed by James Cargill II, Wisconsin resident and heir to the Cargill fortune, who is worth $5 billion, according to Forbes.
New to the Forbes 400 list are Richard and Elizabeth Uihlein, owners of Uline Inc. in Pleasant Prairie. They made the list with estimated fortunes of $4.9 billion each, according to the Milwaukee Business Journal.
According to the list's introduction:
America's superrich are riding high again. After losing a collective $500 billion last year, the nation’s 400 wealthiest people have gained it all back. This elite set is now worth $4.5 trillion in aggregate, tying a record set in 2021, and it takes $2.9 billion to make The Forbes 400, another tied record. Half the gains came from rebounding technology stocks. Eight tech moguls added $10 billion or more to their fortunes. One name you won’t see: Donald Trump. The ex-president’s fortune fell 19% to $2.6 billion. Net worths were calculated using stock prices from September 8, 2023. For more details on the list see here; for the methodology see here.