⬅ # 778 Mark Leonard|# 780 Frank Wang

# 779 Maggie Hardy 

$4.11B

Real Time Net Worth
as of 5/27/2024

# 779 Maggie Hardy 

$4.11B

Real Time Net Worth
as of 5/27/2024
OccupationCEO and Owner, 84 Lumber
Source of WealthBuilding Materials
Age58
ResidenceBelle Vernon, Pennsylvania
Marital StatusDivorced
Children1
EducationDrop Out, West Virginia University
Age-Adjusted Net Worth$4.70B
Maggie Hardy
Maggie Hardy
United States
Net worth: $4.11B

Self-Made Score 

Wealth History

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Biography

Overview

Maggie Hardy, born on December 7, 1965, is an American billionaire businesswoman renowned as the owner of 84 Lumber and Nemacolin Woodlands Resort, both founded by her father, Joseph A. Hardy III.
In 1992, she assumed control of 84 Lumber at the age of 26, propelling it to over $1 billion in sales the following year.
Today, 84 Lumber boasts nearly 310 facilities across 35 states, generating approximately $8 billion in revenue annually.

Early Life and Education

Maggie Hardy was the youngest of five children, born into the household of Joseph Hardy, the founder of 84 Lumber.
She maintained a close bond with her father, who played a pivotal role in her upbringing.
Hardy attended West Virginia University but left after completing two years of studies.

Career

Joined the family business in 1987, undertaking the development of Nemacolin Woodlands into a luxury resort.
Took over ownership and management of 84 Lumber in 1992 at the age of 26, achieving $1 billion in sales the following year.
Led 84 Lumber through expansions, including the opening of its 400th store in 1997 and its first '84 Plus' retail store in 1999.

Business Expansion and Challenges

Under Maggie Hardy's leadership, 84 Lumber grew steadily, exceeding $2 billion in annual sales in 2002 and opening new stores even during market downturns.
Faced challenges during the 2009 housing market crash, preventing bankruptcy through personal investments and strategic store closures.
Continued expansion with a major west coast expansion plan in 2016 and opening the company's largest store in Richmond, Virginia, in 2019.

Personal Life

Married Peter J. Magerko in 1992, with whom she has a son. Filed for divorce in September 2017.
Remarried Shawn Knox in March 2019 in Aspen, Colorado, and currently resides in Pittsburgh.
Acquired a $16 million mansion in Boca Raton, Florida, in 2020.

Notable Activities and Interests

Advocated for President Trump's U.S.-Mexico border wall.
Passionate art collector, displaying her collection within Nemacolin Woodlands Resort, some of which was featured on The Bachelor.
Purchased the Immaculate Reception ball from Jim Baker as a gift for her father's 100th birthday in 2022.

How long would it take you to become as rich as Maggie Hardy?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Maggie Hardy's net worth of $4.11B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

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Maggie Hardy is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Maggie Hardy, Building Materials is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey