What is Joe Hardy's net worth?
Joe Hardy is an American businessman and entrepreneur who has a net worth of $1.2 billion. Joe earned his fortune as the founder of 84 Lumber. He also owns the popular Pennsylvania resort, Nemacolin Woodlands Resort.
Early Life
Joseph A. Hardy III was born on January 7, 1923. He was raised during the Great Depression and sold fruit door-to-door during college. After graduating with a degree in industrial engineering from the University of Pittsburgh Hardy opened up the Green Hills Lumber Company.
84 Lumber
In 1956 Joe, his brothers and some partners invested in a lumber yard in Eighty Four, Pennsylvania. They called the business "84 Lumber" and soon expanded into selling building materials and home improvement supplies. After a few years Joe and his brothers bought out the other partners.
Over the next several decades 84 Lumber grew into one of the largest home improvement chains in the United States. It is currently the largest privately-owned building supplier/home improvement chain in the US. As of this writing, 84 Lumber operates more than 250 stores in 30 states with annual revenue topping $4 billion.
In 1992, after more than three decades at the company's helm, Joe appointed his daughter Maggie President of the firm. At this time he also transferred 40% of the company's equity to his daughter. He upped the amount to 80% in 1993.
When the housing market crashed in 2008, 84 Lumber was brought to the brink of bankruptcy. With some restructuring and cost-cutting, the company was brought back from the brink within several years.
Nemacolin Woodlands Resort
In 1984, Joe bought a 400-acre resort/hotel complex in Farmington, Pennsylvania called Nemacolin. He renovated the property and re-opened as a luxury resort. Over time he expanded the property to more than 2,000 acres.
Today Nemacolin Woodlands Resort features three hotels, a spa, an off-road driving academy, a shooting academy, skiing, a golf course, a museum and multiple restaurants. The resort is home to the Mystic Rock golf course which was part of the PGA Tour from 2002 to 2006.
Personal Life
Joe has donated millions to renovate Uniontown, PA.
He has been married three times and has seven children. His daughter Maggie is still the President of 84 Lumber.
