Was Joe Hardy a billionaire?

Publish date: 2024-06-06

On January 7, 1923, Joseph A. Hardy III was born. He grew up during the Great Depression and sold fruit door-to-door while attending college.

Hardy founded the Green Hills Lumber Company after graduating from the University of Pittsburgh with a degree in industrial engineering.

Joe, his brothers, and some partners bought a lumber yard in Eighty Four, Pennsylvania, in 1956. They named their company “84 Lumber” and quickly expanded into the sale of building materials and home improvement supplies. Joe and his brothers eventually bought out the other partners.

84 Lumber grew into one of the largest home improvement chains in the United States over the next several decades.

It is now the largest privately held building supply/home improvement chain in the United States. As of this writing, 84 Lumber has over 250 stores in 30 states and an annual revenue of more than $4 billion.

Joe named his daughter Maggie President of the company in 1992, after more than three decades at the helm. At the same time, he gave his daughter 40% of the company’s equity. In 1993, he increased the amount to 80%.